FCC sells minority equity interest in Houweling’s Nurseries Ltd.

Calgary, Alberta, July 14, 2006 – FCC Ventures (FCCV), a division of Farm Credit Canada, has successfully exited its minority equity investment in Houweling’s Nurseries Ltd. (“Houweling’s”), following the repurchase of a warrant position acquired by FCCV upon closing the original transaction on April 23, 2003. 

Houweling’s, based in Delta, British Columbia, is one of North America’s leading producers of hothouse vegetables. FCCV participated as a quasi-equity investor in a C$60 million syndicated financing round to facilitate the successful restructuring. 

“FCC Ventures’ involvement and diligence during the restructuring was critical to our emergence from creditor protection,” said Houweling’s Chief Executive Officer Casey Houweling.  “Their active involvement on our Board post restructuring has been extremely beneficial in strengthening the balance sheet, improving the profitability and positioning the company for continued growth.”

The FCC Venture Capital Fund, launched in 2002, invests in Canadian businesses that are dedicated to advancing agriculture in Canada and throughout the world.  The fund, which has a total capitalization of C$90 million, has completed equity and quasi-equity investments in 19 Canadian based companies representing approximately $50 million of invested capital.

For more information please visit our website at www.fccventures.ca or contact:

Jim Taylor
Vice President
FCC Ventures
(905) 465-4330

Aki Georgacacos
Managing Director
FCC Ventures
(403) 292-8616