Rockwater Capital Corporation announces management change

    TORONTO, April 4 /CNW/ - Rockwater Capital Corporation ("Rockwater" or
the "Company"), (TSX: RCC), announces that effective immediately, Gerald C.
Throop, Executive Vice President of Rockwater and President and Head of
Capital Markets for Blackmont Capital Inc. ("Blackmont"), is relinquishing his
role as the Head of Capital Markets. Wayne D. Adlam, currently Executive Vice
President of Capital Markets at Blackmont, has been appointed to this
    In a separate press release also issued today, Rockwater and CI Financial
Income Fund ("CI") announced that pursuant to CI's previously announced offer
(the "Offer") to acquire Rockwater, in excess of 90% of Rockwater's
outstanding shares have been deposited under the Offer and taken up by CI. To
assist in the transition to CI ownership, Mr. Throop will continue as
President of Blackmont Capital Inc. until June 30, at which time he will
resign to pursue other interests.
    Mr. Adlam has held the position of EVP Capital Markets since May 2006,
and is an accomplished capital markets executive with a track record for
growth and success. Prior to joining Blackmont, Mr. Adlam spent 18 years at
CIBC World Markets, where he held senior positions as the Head of Equity
Capital Markets and the Co-Head of Merchant Banking.
    Since the announcement of the CI bid, Wayne has worked with CI and
members of Blackmont management on a strategy for the firm's next phase of
growth under the CI umbrella. These new initiatives will build on the platform
and strategy that continues to drive Blackmont's success.

    Rockwater Capital Corporation (TSX: RCC) is an independent financial
services company in three related businesses: investment counseling and
portfolio management (KBSH Capital Management Inc.), retail investment
management (Lakeview Asset Management Inc.) and a full service investment
dealer (Blackmont Capital Inc.). For more information on Rockwater, please

    This press release may contain forward-looking statements relating to
expected future events and financial and operating results of Rockwater that
involve risks and uncertainties. Actual results may differ materially from
management expectations as projected in such forward-looking statements for a
variety of reasons, including market and general economic conditions and the
risks and uncertainties detailed in Rockwater's most recent Management
Discussion and Analysis, Annual Report, Annual Information Form and other
continuous disclosure documents filed by Rockwater with the Canadian
securities regulatory authorities which are available on SEDAR at or upon request from Rockwater. Due to the potential impact of
these factors, Rockwater disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, unless required by applicable law.

For further information:

For further information: Bruce Kagan, Executive Vice President, Head of
Wealth Management, Blackmont Capital Inc., (416) 864-2123,; Wayne Adlam, Executive Vice President, Head of Capital
Markets, Blackmont Capital Inc., (416) 864-3590,

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