WSC West Street Capital Corp.

West Street Capital Corporation ("West Street" or the "company") (TSX VENTURE: WSC)(TSX VENTURE: WSC.PR.A) reported net income for the quarter ended March 31, 2011 of $0.6 million compared to $0.5 million in the comparative quarter in 2010. After providing for unpaid preferred share dividend obligations of $0.7 million (2010 - $0.7 million), the net loss per common share was $0.01 compared with a net loss of $0.02 per common share during the period ended March 31, 2010.

Dividends, interest and other income totalled $0.8 million for the period ended March 31, 2011, in comparison to $0.7 million in the same period in 2010 and consisted principally of dividends and interest earned on the company's securities portfolio. The increase in investment income is primarily the result of additional securities acquired during 2010 and 2011.

                          Statements of Operations
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THREE MONTHS ENDED MARCH 31

(thousands, except per share amounts)                      2011        2010
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Investment income                                       $   809     $   681
Operating and legal expenses                                 18          26
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Net income before investment losses and taxes               791         655
Investment losses                                          (236)          -
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Net income before taxes                                     555         655
Current taxes                                              (337)       (178)
Future taxes                                                405           -
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Net income                                              $   623     $   477
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Net loss per common share                               $ (0.01)    $ (0.02)
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The company recorded comprehensive income for the quarter ended March 31,
2011 of $3.1 million compared to $1.2 million in the comparative period in
2010, which accrued to the preferred shares and reduced the common share
deficit to $35.3 million.

                               Balance Sheets
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(unaudited)                                        March 31,   December 31,
(thousands)                                             2011           2010
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Assets
  Cash and equivalents                            $    3,513     $    5,592
  Securities                                          60,221         54,274
  Interest receivable and other                          712          1,147
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                                                  $   64,446     $   61,013
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Liabilities
  Accounts payable and other provisions           $      922     $      572
Shareholders' equity                                  63,524         60,441
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                                                  $   64,446     $   61,013
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                                                   March 31,   December 31,
(thousands, except per share amounts)                   2011           2010
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Shareholders' equity                              $   63,524     $   60,441
Less: amounts attributable to preferred shares
  Stated value                                       (42,160)       (42,160)
  Unpaid dividends(1)                                (56,666)       (55,932)
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Common share deficit(2)                           $  (35,302)    $  (37,651)
  Per common share                                $    (3.23)    $    (3.45)
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(1) Represents dividends in arrears on preferred shares that are unaccrued
    for IFRS purposes.
(2) The above table presents the significant common share deficit resulting
    from the net book value of the company being attributed to the preferred
    shares.

Contacts: West Street Capital Corporation Sachin G. Shah President (416) 363-9491