BluMont Capital and Man Investments Extend Strategic Alliance

Date: Thursday, November 4, 2004

BluMont Capital Inc. ("BluMont") (TSXV: BCC) is pleased to announce that its wholly-owned subsidiary, BluMont Capital Corporation and Man Investments Inc. ("Man"), the US member of the asset management division of London-based Man Group plc (LSE:EMG - News; "Man Group"), are extending their strategic alliance to market and distribute co-branded retail alternative investment products in Canada. Under the terms of the current strategic alliance, BluMont continues to offer Canadian investors structured products managed by Man, including the BluMont Man IP 220 Notes and BluMont Man Multi-Strategy Note Series. BluMont has raised over C$342 million in all BluMont Man offerings since March 2003. "We are extremely excited about our continued alliance with Man Investments and the products we can develop together for Canadian investors as a result" says Toreigh Stuart, President and CEO of BluMont. "It represents a real competitive advantage to be able to meet investor needs by offering products with different risk and reward profiles, including products with capital guarantees." "Man has been extremely pleased with the strategic alliance we have with BluMont, which has been very successful and continues to strengthen over time," declares John M. Kelly, President and CEO of Man Investments Inc. "Given our plans to extend our product range in Canada, we believe that this is the right time to formally extend our alliance with BluMont even though it was not to expire until the latter half of next year." The agreement will be discussed in further detail shortly at an investor/press conference which will be held by BluMont and Man.