Sherman Kreiner, President and Chief Executive Officer of Crocus Investment Fund today announced a number of important changes to the Fund's organizational structure. Principal among the changes is the appointment of Paul Soubry Jr., President of Standard Aero Limited, to the Crocus Board of Directors, Laurie Goldberg to the position of President of Crocus Capital Inc., and John Pelton as Chief Investment Officer.

At the Crocus Annual General Meeting in July, Mr. Kreiner advised shareholders that the company was active in raising institutional capital. Today's announcement is the outcome of that work and aligns the organizational structure with the positioning of Crocus as both a retail and institutional fund management company.

"It is a key step in work we have been doing for the past year to add depth and experience in the company and build a platform to provide a broader range of investment management services to local businesses", said Kreiner."

Part of the repositioning plan included expanding the Crocus board. The larger board facilitated the addition of Mr. Soubry who will serve on the Fund's Investment Committee effective immediately. "Paul brings a wealth of experience and a wide range of international business contacts to the Fund," said Kreiner. "He also has an extensive understanding of the Fund's ethical practices and non-financial objectives, and we are all looking forward to working with Paul and to benefiting from the perspective that he will provide."

In addition to his new responsibilities with Crocus Capital, Laurie Goldberg will continue to serve as the Chief Operating Officer. Before coming to Crocus, Laurie held the position, Chief Operating Officer and Office of the President with Assante Corporation. Laurie brings substantial financial services, strategic and operational leadership to Crocus.

John Pelton joined Crocus several months ago and is well known in Winnipeg as Chairman and CEO of Russel Metals Inc. (formerly Federal Industries Ltd.), and throughout the country as Managing Director of Greystone Partners Ltd., a private merchant bank that has invested in, and provided management expertise to entrepreneurial-led growth businesses.

James Umlah who was responsible for bringing both Mr. Pelton and Mr. Goldberg to Crocus, will be leaving the Fund to acquire Canadian Tool and Die Limited, a sixty year old Manitoba business. Mr. Umlah was instrumental in the Fund's growth, serving as Chief Investment Officer and President of Crocus Capital Inc. for more than a decade, and will maintain a consulting relationship with Crocus during the transition period.

"The opportunity to start the next phase of my career with an established company like Canadian Tool and Die was too good to pass up", said Umlah. "After twelve years with Crocus it was a difficult decision that was easier to make knowing the team that is now in place. The portfolio is in solid hands and I believe the future will be very positive."

"James made pivotal contributions to Crocus in the last twelve years", said Kreiner. "He has the opportunity to start the next phase of his career and we wish him well. I am confident however that the team we have assembled gives Crocus the depth and experience necessary to move forward to the next level."

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