Start of Trading

Toronto, Ontario - October 4, 2007 - The Phoenician Fund Corporation I (the "Corporation") is pleased to announce that its common shares will begin trading on the TSX Venture Exchange (the "TSXV") 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.

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 WWW.SEDAR.COM.

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