Re: ARC Energy Fund 5's Holdings in Profound Energy Inc.

    CALGARY, Sept. 11 /CNW/ - ARC Equity Management (Fund 5) Ltd. (as the
general partner of ARC Energy Fund 5 Canadian Limited Partnership, ARC Energy
Fund 5 United States Limited Partnership and ARC Energy Fund 5 International
Limited Partnership, collectively "ARC Energy Fund 5") of Calgary, Alberta
announced that, by way of a private acquisition from a single seller, ARC
Energy Fund 5 has acquired 1,580,800 common shares ("Common Shares") in the
capital of Profound, representing an aggregate of approximately 4.23% of the
outstanding Common Shares for cash consideration of $3.13 per Common Share.
    ARC Energy Fund 5, together with ARC Energy Venture Fund 4, now exercises
control or direction over an aggregate of 11,284,149 Common Shares,
representing approximately 30.22% of the current outstanding Common Shares.

    ARC Energy Fund 5 is an investment fund specializing in the energy
sector. Its general partner is ARC Equity Management (Fund 5) Ltd., of the ARC
Financial Group of companies. Although ARC Energy Fund 5 may make further
purchases of common shares of Profound through private purchases or through
the facilities of the Toronto Stock Exchange, such purchases will be made for
investment purposes.
    This press release has been issued in order to comply with applicable
securities legislation.

For further information:

For further information: or a copy of the securities report contact:
Lauchlan Currie, President, ARC Equity Management (Fund 5) Ltd., 4300, 400 -
3rd Avenue S.W., Calgary, Alberta, Telephone: (403) 292-0680, Fax: (403)

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