WINNIPEG – Crocus's Board of Directors today announced it approved a decline of approximately $46 million in the Fund's net asset value. This adjustment is a result of valuation work, including the independent valuations completed by four independent national accounting firms, at the request of the Crocus Board. When operating and other expenses incurred by the Fund since it voluntarily halted trading on December 10, 2004 are included in the financial calculation, the Fund's share value today would be slightly below $7.00.

Since the Fund is in a halt-trade situation, the Board emphasized that this announcement is for information purposes only, and a final share price cannot be set by Crocus until approval is received from The Manitoba Securities Commission.