TORONTO, ONTARIO–(Marketwire - March 10, 2008) - Counsel Corporation (”Counsel”) (TSX:CXS) and Knight’s Bridge Capital Partners Inc. (”Knight’s Bridge”) announced today that Knight’s Bridge Capital Partners Fund I (the “Fund”) has closed on capital commitments in excess of $62 million. The Fund will make equity and equity-oriented investments of up to $10 million in small to mid-market businesses in Canada and the United States.

“The Fund will look to create value for its investors in businesses that can benefit from Knight’s Bridge’s extensive strategic, financial and operational expertise,” said Kenny Finkelstein, the President and Chief Executive Officer of Knight’s Bridge. Mr. Finkelstein continued, “We are currently reviewing several exciting opportunities which we believe will make excellent investments for the Fund.”

Knight’s Bridge had targeted for the Fund to raise between $50 and $80 million, requiring one or more secondary closings; however, as a result of the rapid and overwhelming support by investors, the Fund does not anticipate any additional closings.

Allan Silber, the Chairman and Chief Executive Officer of Counsel commented, “We are gratified by the support we have received by investors, which underscores their collective confidence in Knight’s Bridge’s strategy, Kenny Finkelstein and the rest of the management team.” Mr. Silber continued, “The establishment of the Fund continues to build on the significant progress that Counsel has made during the past year in its various business initiatives.”

Knight’s Bridge Capital Partners Inc.(“Knight’s Bridge”) are pleased to announce that the owner and the managers of Knight’s Bridge have acquired the general partner’s interest in 2007 Fund I LLP (formerly Biltmore Ventures LP) (the “Fund”), from BVP Management LLC. The Fund has been renamed as Knight’s Bridge Capital Partners Internet Fund No. 1 LP.

To date, the Fund has completed a number of investments in companies requiring venture financing including Lifelock Inc., V:social Inc., AdaptiveBlue Inc., MyTrade.com and CopperKey Inc.

The new general partner of the Fund will manage the Fund and its current investee companies.“We are excited about managing these leading edge investments for the Fund,” said Kenny Finkelstein CEO of Knight’s Bridge. Mr. Finkelstein added that, “We believe that the financial, operational and investing experience of our management team will help bring value to the Fund, its portfolio companies and the Fund’s investors”.

As a component of the transaction, Mr. Howard Lindzon, a principal of Knight’s Bridge and a co-owner of the new general partner, will form part of the Fund management team. Mr. Finkelstein commented that “Howard’s vast experience in the new media and internet business sectors will be invaluable to us as we look to create value for the investors in the Fund”.