Peninsula Merchant Syndications Corp. acquires position in Pacific Harbour
Capital Ltd.

VANCOUVER, June 10 /CNW/ - Peninsula Merchant Syndications Corp. ("Peninsula") is issuing this press release pursuant to the early warning requirements of applicable securities laws in Canada with respect to Pacific Harbour Capital Ltd. (the "Issuer" or "PCF-V").

Pursuant to a private placement, Peninsula has acquired 4,700,000 Units of the Issuer, with each Unit consisting of one common share and one common share purchase warrant (the "Warrants") exercisable at a price of CAD$0.10 per share until June 9, 2012. The Units were acquired at a purchase price of CAD$0.075 per Unit, representing an aggregate purchase price of CAD$352,500.00.

Following the private placement, the common shares owned by Peninsula represented 9.95% of the issued and outstanding common shares of the Issuer. Assuming the exercise of the Warrants, Peninsula will own 9,400,000 common shares, or 18.10% of the issued and outstanding common shares of the Issuer.

Peninsula acquired the securities for investment purposes. Peninsula may, depending on market and other conditions, acquire additional securities of the Issuer or dispose of all or any of its securities of the Issuer through market transactions, private agreements or otherwise.

Peninsula Merchant Syndications Corp. is a private merchant bank controlled by Sam Magid.

A copy of the early warning report being filed by Peninsula with the applicable securities regulators regarding the transaction will be available on SEDAR (www.sedar.com).

For further information: or for a copy of the early warning report filed in respect of the above transaction, please contact: Rahim Rajwani, Executive Vice-President, Peninsula Merchant Syndications Corp., Suite 1068, 550 Burrard Street, Vancouver, BC, V6C 2B5, Tel: [phone]