Miramare Capital Inc. - Completion of initial public offering

    TSX Venture Exchange: MZY.P

    VANCOUVER, March 23 /CNW/ - Miramare Capital Inc. (the "Company") is
pleased to announce that on March 23, 2007 it completed its initial public
offering as a capital pool company of 2,000,000 common shares at a price of
$0.15 per share for gross proceeds of $300,000. Blackmont Capital Inc. acted
as agent in respect of the offering and received a cash commission of $30,000
and an Agent's Option entitling it to purchase up to 200,000 common shares at
a price of $0.15 per share exercisable for a period of two years.
    The Company anticipates that the common shares will commence trading on
the TSX Venture Exchange on April 3, 2007 under the trading symbol "MZY.P".

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of the content of this news release.

For further information:

For further information: William E. Smith, President, Chief Executive
Officer and a director of the Company at (250) 598-6652

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