The Phoenician Fund Corporation I to commence trading

    TSX Venture Exchange Symbol: PO.P

    TORONTO, Oct. 4 /CNW/ - The Phoenician Fund Corporation I (the
"Corporation") is pleased to announce that its common shares will begin
trading on the TSX Venture Exchange (the "TSX-V") on October 5, 2007 under the
trading symbol of "PO.P".

    The Corporation is the second capital pool company ("CPC") formed by
Phoenician. Phoenician is engaged in the creation of publicly listed special
purpose vehicles administered in Canada under the TSX Venture's Capital Pool
Company program. Members of the board and management of Phoenician I are
experienced members of the Canadian and international financial community. The
board and management team also bring a wide array of industry and geographic
experience and will be exploring opportunities across these sectors and
regions. More information can be found on SEDAR by reviewing the final
prospectus, on or by contacting Edwin Lee, President
and CEO of the Corporation.

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

    Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict. Actual
results might differ materially from results suggested in any forward-looking
statements. The Corporation assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results could
differ from those reflected in the forward looking statements unless and until
required by securities laws applicable to the Corporation. Additional
information identifying risks and uncertainties is contained in the
Corporation's filings with the Canadian securities regulators, which filings
are available at

For further information:

For further information: Edwin S. Lee, CA - President and Chief
Executive Officer, T: (416) 358-8181,,

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