Norrep Opportunities Corp. completes rollover of partnership assets

    CALGARY, Sept. 13 /CNW/ - Norrep Opportunities Corp. (the "Fund") is
pleased to announce that it has completed the distribution of Norrep G Class
mutual fund shares (the "Mutual Fund Shares") to the Norrep Global Small
Capitalization Limited Partnership (the "Partnership"). The Fund distributed
the Mutual Fund Shares on September 13, 2007 in exchange for all of the assets
of the Partnership (the "Rollover") pursuant to the mutual agreement of the
Fund and the Partnership and in accordance with the Partnership Agreement. The
Partnership received an aggregate of 4,895,588.881 Mutual Fund Shares with a
net asset value of $10.7233 per share in exchange for assets with a market
value of approximately $52,496,868.25. As a result of the Rollover, each
limited partner of the Partnership received 1.2633960339 of a Mutual Fund
Share for each limited partnership unit based on a net asset value of $13.5478
per unit. All net asset values were calculated as at close of business on
September 12, 2007.
    Immediately following completion of the Rollover, the Partnership will be
dissolved in accordance with the Partnerships Act (Alberta).

    Norrep Inc. is the manager of the Fund. The portfolio manager is
Hesperian Capital Management Ltd., which was also the portfolio manager for
the Partnership.

    Certain information set forth in this press release, including a
discussion of future plans and operations, contains forward-looking statements
that involve substantial known and unknown risks and uncertainties. These
forward-looking statements are subject to numerous risks and uncertainties,
some of which are beyond management's control, including but not limited to,
the impact of general economic conditions, industry conditions, fluctuation of
commodity prices, fluctuation of foreign exchange rates, environmental risks,
industry competition, availability of qualified personnel and management,
stock market volatility, timely and cost effective access to sufficient
capital from internal and external sources. Actual results, performance or
achievement could differ from those expressed in or implied by these
forward-looking statements.

    %SEDAR: 00017183E

For further information:

For further information: Julie Hoban, (403) 531-1407

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