MPI Mpvc (Tier2)

VenGrowth Private Equity Partners Inc. and its affiliates ("VenGrowth"), a
leading private equity firm with over $1 billion in assets under management,
today announced that VenGrowth investee company MPI Packaging Inc. ("MPI") has
repaid all of the capital originally invested by VenGrowth. At the same time,
VenGrowth continues to hold a minority equity stake in MPI, enabling
participation in potential future growth of the manufacturer of customized PET
plastic bottles.


In June, 2005, The VenGrowth Traditional Industries Fund Inc., The VenGrowth III
Investment Fund Inc. and VG Mezzanine I Limited Partnership provided a $4.3
million subordinated loan to MPI, which has now been repaid two and a half years
ahead of schedule. MPI has enjoyed revenue growth of around 40% per year as it
continues to win new clientele and expand operations.


"The earlier than expected payment is a testament to MPI's experienced
management team," said Graham McBride, Managing General Partner, VenGrowth. "We
are very pleased that VenGrowth will continue to hold equity in MPI, which
continues to strengthen its balance sheet while focusing on building its unique
business."


Based is Mississauga, Ontario, MPI specializes in the design and manufacturing
of custom Polyethylene Terephthalate ("PET") plastic bottles, which hold a range
of liquids such as wine, milk, and personal care products.  MPI serves a
distinct niche by providing superior quality and service to its customers, which
are not typically prioritized by larger bottle manufacturers.


"We are delighted that we've been able to repay all of the capital owed to
VenGrowth sooner than anticipated," said Ron O'Brien, President, MPI Packaging
Inc. "VenGrowth's hands-on involvement has been a key factor in the success of
MPI."


"We look forward to continuing to work together with the shared goal of building
an even more successful provider of innovative customized packaging solutions,"
added O'Brien. "Led by both consumers and businesses, demand for PET plastic
packaging is escalating, since PET is the most flexible and recycled plastic in
the world."


About VenGrowth Traditional Industries Group

VenGrowth Traditional Industries Group specializes in financing solutions for
mid-market Canadian companies in traditional manufacturing and services
industries that are expected to generate sustainable cash flows. The Group
primarily invests using debt instruments with the objective of generating
interest and dividend income to participating VenGrowth Funds. In addition, the
Funds will typically hold equity interests alongside the loans with the
intention of generating long-term capital appreciation. Formed in 2003, the
Group had invested over $130 million into 18 companies as at January 1, 2008.
The Group is led by Graham McBride, a highly regarded mezzanine financing expert
with over 20 years of experience.


About VenGrowth

With over $1 billion in assets under management, VenGrowth is Canada's largest
private equity and venture capital firm managing both retail and institutional
assets. Since 1982, VenGrowth's accomplished private equity managers have
invested over $1.3 billion in almost 200 companies, building a strong track
record of successful portfolio transactions. These investments have been made on
behalf of over 180,000 individual investors and leading pension funds, banks,
insurance companies and family foundations. Portfolio companies benefit from
VenGrowth's substantial experience, resources, and hands-on investment style.
VenGrowth's offices are located in Toronto (Corporate Headquarters) and Ottawa.
For more information, please visit www.vengrowth.com.


About MPI Packaging Inc.

MPI specializes in the design and manufacturing of Polyethylene Terephthalate
("PET") plastic bottles, in various sizes capable of holding a broad range of
liquids such as; wine, milk, personal care products, liquor, motor oil etc. MPI
focuses on providing superior quality and service in support of customers that
are not typically prioritized by larger bottle manufacturers. MPI also develops
custom injection tools and blow moulds to create unique features that allow
customers to differentiate their products. With facilities in both Toronto,
Ontario and Riverside, California, MPI is able to transport cost effectively
anywhere in North America. For more information, please visit www.mpi-pet.com.

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