West Face Capital to Oppose ACE Liquidation Plan

    TORONTO, Jan. 14 /CNW/ - West Face Capital Inc., one of the largest
shareholders of ACE Aviation Holdings Inc., announced today that, on the basis
of the information that has been publicly disclosed by ACE Aviation to date,
it intends to oppose the plan of arrangement for which ACE announced it would
seek court and shareholder approval in its press release of December 10, 2008
and to pursue the replacement of ACE Aviation's board of directors at the
shareholder meeting requisitioned by West Face on December 4, 2008.
    West Face believes that a liquidation of ACE Aviation's assets in the
manner proposed by ACE is not in ACE's best interests and that there are
alternatives that would better maximize value for the company and its

For further information:

For further information: Gregory Boland, 2 Bloor Street East, Suite 810,
Toronto, ON, M4W 1A8, Tel: (647) 724-8900

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