BC Advantage Funds Awarded Venture Capital "Deal of the Year"

Vancouver, September 21, 2006 - BC Advantage Funds (VCC) Ltd., a Vancouver-based life science and technology venture capital fund, announced today that it has received this year's Deal of the Year Award from the Canadian Venture Capital Association.

BC Advantage Funds won the award, given each year for the venture capital deal that achieves the highest realized return over the last 12 months, for its investment in Aspreva Pharmaceuticals. Advantage's Aspreva investment yielded an internal rate of return (IRR) of 272% per annum to the fund and a return multiple of 23.4 times capital invested.

"As a relatively young fund, we're delighted to receive this recognition from Canada's national venture capital association", said Frank Holler, Chief Executive Officer of BC Advantage Funds. "We faced some pretty stiff competition from well established venture funds all across Canada so we're pleased to come out on top of the group for 2006".

The award-winning Aspreva deal was made in the Advantage Life Science Venture Fund. This fund has out performed virtually every other venture capital fund in Canada since its inception, having the highest one year, three year and five year annual returns for all funds tracked by the Globe Fund Labour Sponsored Venture Capital Index.

Jim Heppell, BC Advantage Funds' President and Fund Manager for the Advantage Life Science Venture Fund said, "We are very pleased with the returns generated on the Aspreva investment and on the overall investment portfolio. We expect to begin redemptions on this fund next year and it's gratifying to provide our shareholders with a strong return, especially during a period which was very challenging for life science and technology companies".

Heppell added that two of the key reasons behind the success of the fund are that it invests early and maximizes returns by employing a formal mentoring program. Under the mentoring program, a network of experienced, successful entrepreneurs and business people provide its portfolio companies with experience, vision and guidance.

About Advantage

Advantage offers everyone in BC the opportunity to invest in some of the Province's most promising life science, technology and clean-technology companies. Advantage investors receive a 30% refundable tax credit from the BC government on investments of up to $200,000 per year.

For more information about Advantage, please review our prospectus, visit our website at www.bcadvantagefunds.com or contact our Vice President, Sales and Marketing, Ray Matthews at rmatthews@lionscapital.com or 604.818.7778.

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