Corvus Capital reports £10.7m profits

Preliminary Results - For the eighteen month period ended 30 September 2006

26 February 2007, Corvus Capital Inc (AIM: CVS), the international investment company based in Geneva, announces its preliminary results for the eighteen month period ended 30 September 2006.

Summary:

• Total profits over the period of £10.7 million. Basic return per share of 4.13p, diluted return per share of 3.98p
• £29.5 million of unrealised gains at 30 September 2006
• £10.6 million of cash realised from disposals during the period
• Post balance sheet placing to new institutional shareholders raising £3.04m to satisfy demand for shares
• Skill set and financial resources in place to acquire larger cash-flow based assets

Commenting, Andrew Regan, Chief Executive of Corvus Capital Inc, said:
“During the period under review we have made significant progress on key fronts. We have continued to increase the capital base of the Company and have established a strong network of funding partners from the international financial community, both key factors in securing a lower cost of capital. We have also built a team with the requisite skill set to take the Company forward to achieve our objective to acquire assets of size where we can unlock significant value for shareholders
“Our investment strategy has delivered nearly £38.5 million of cash and unrealised gains from our investments in the smaller cap growth companies in the last 30 months. Corvus will continue to pursue further dynamic growth from investment in the small cap market, locking-in cash gains when it is appropriate.”

Summary of Investment Activity:
During the period the Company has continued to trade its investments and build value in investee companies through strategic and transactional support:

• Over £10.6 million cash has been realised from disposals of investments – principally the investments in Lodore Resources Inc and Techpacific Capital Limited.
• Corvus provided transactional support to Commoditrade in its £24.4 million acquisition of an interest in the largest trading team on the London Metal Exchange. Commoditrade has recently announced record income and initial profits, prior to amortisation of intangible assets, of £13 million and has recently announced that it has received approaches from a number of parties regarding a potential offer for the company. Corvus, which has a 20% stake in Commoditrade is providing assistance to Commoditrade in assessing these approaches.
• Corvus Capital’s 17% shareholding in Gable Holdings Inc, an FSA regulated European Insurance company, was recently placed with institutional investors raising £1.89 million cash.
• The Company is pleased to see continued progress at Nanoscience Inc, which acquired Toumaz Technology Limited for £17.1 million and at Raven Capital Inc (re-listed as Upstream Marketing and Communications (Inc) which recently acquired a fast growing Asia PR agency for £15.94 million. In addition, Global Structured Finance Inc recently acquired a 13.4% stake in Darcy Energy Holdings UK Limited for US$18 million.

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