BluMont Capital Launches BluMont Man Multi-Strategy Series 4 Notes

Date: Tuesday, September 28, 2004

BluMont Capital Inc. (“BluMont”) (TSXV: BCC) is pleased to announce that its wholly-owned subsidiary, BluMont Capital Corporation, has launched the fourth series of the BluMont Man Multi-Strategy Notes (“Multi-Strategy Series 4 Notes”) – a multi-manager/multi-strategy investment product from Man Investments with a principal repayment guarantee from Citibank Canada. With the aim of delivering double-digit annual returns with lower than equity market volatility, the Multi-Strategy Series 4 Notes are modeled upon the original Man Multi-Strategy Guaranteed Limited fund, which has an impressive four-year track record of positive returns each year since its July 2000 inception and a compound annual rate of return (net of fees) of 9.6% as of June 30, 2004. To date, Man Investments, a global leader in alternative investment solutions, has raised over US$3 billion worldwide in the Man Multi-Strategy Guaranteed Limited series through six global and nine private launches (as of December 31, 2003). In Canada, BluMont has raised over C$195 million through its previous offerings of the BluMont Man Multi-Strategy Notes and over C$342 million in all BluMont Man offerings since March 2003. Capital invested in the Multi-Strategy Series 4 Notes will be initially allocated to a wide range of alternative investment strategies that can be categorized into six broad styles – managed futures, arbitrage, fund of hedge funds, equity hedge, long/short equities and directional. These strategies have low correlation to each other and to traditional equity and fixed income investments, meaning the Multi-Strategy Series 4 Notes have the potential to enhance portfolio returns, reduce overall risk and provide valuable diversification benefits irrespective of how equity and fixed income markets perform. In addition to providing a principal repayment guarantee by Citibank Canada that guarantees the return of an investor’s initial investment at maturity, the Multi-Strategy Series 4 Notes provide C$150 of investment exposure for every C$100 of initial capital invested, are 100% RSP eligible as Canadian content and are available to investors until November 30, 2004 for a minimum investment of only C$5,000. S E P T E M B E R 2 8 , 2 0 0 4 Press Release : “The C$76 million raised in our most recent Multi-Strategy Notes offering this past July reinforces investors’ strong and continuing interest for products with principal protection and attractive return potential” said Toreigh Stuart, President and CEO of BluMont Capital. “We are pleased to offer investors this latest opportunity to access a proven and highly diversified investment product structure from one of the world’s leading alternative investment firms — Man Investments”. About BluMont Capital : BluMont Capital is a leading provider of alternative investment products to Canadian retail clients and investors. Specializing in hedge funds, the firm offers investors innovative investment solutions that provide enhanced diversification and robust return potential. Established in 2000, BluMont employs more than 47 people nationwide and has approximately C$550 million in assets under management as of July 30, 2004. BluMont is 46.1% owned by Toronto-based Integrated Asset Management Corp. (TSXV:IAM), a leading alternative asset manager with approximately C$1.7 billion in assets under management. Further information on BluMont Capital can be found at www.blumontcapital.com. About Man Investments : Man Investments (“Man”), the asset management arm of Man Group plc, is an independent and global leader in alternative investments, providing innovative products and tailor-made solutions for private and institutional clients. Through its core investment managers, Man has succeeded in developing specialized strengths in different alternative asset classes – hedge funds, private equity, leveraged finance and convertible bonds. Established in 1983, Man has launched around 450 products worldwide, many of them with leading financial institutions. It manages approximately US$38.5 billion (as of March 31, 2004) and employs more than 1000 people worldwide. Man has offices in Chicago, Switzerland, London, Hong Kong, the Middle East, Montevideo, New York and Tokyo. Further information on Man Investments can be found at www.maninvestments.com.