P.M. Bull Holdings Ltd.: News Release

Holdings acquired control over 75,000 Class A Units, representing approximately 0.5% of the issued and outstanding Class A Units on April 25, 2008. As a result of the acquisition of the Class A Units, the offeror owned 1,779,300 Class A Units, representing 12.35% of the issued and outstanding Class A Units after giving effect to the transaction. The Class A Units were acquired through the Toronto Stock Exchange at a price of $5.55 per Class A Unit. The offeror acquired the Class A Units for investment purposes only and it may increase or decrease its ownership position in the future.

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