Xceed Mortgage Corporation announces new appointment to its Board

TORONTO, May 16, 2012 /CNW/ - Xceed Mortgage Corporation [TSX: XMC] ("Xceed" or the "Company") is pleased to announce that Mr. Jordan Kupinsky has joined Xceed's Board of Directors (the "Board").

Mr. Kupinsky is a Managing Director with Windsor Private Capital, a merchant bank headquartered in Toronto. Prior to joining Windsor and its predecessor, JJR Capital Corp., Mr. Kupinsky was a Vice President at Greenhill & Co., an independent global investment banking firm listed on the NYSE focused on mergers & acquisitions and financial restructuring.  Mr. Kupinsky held the positions of Vice President Corporate Development and General Counsel at Minacs Worldwide Inc., a business process outsourcing company, formerly a Toronto Stock Exchange listed company. Mr. Kupinsky began his career practicing corporate and securities law at Torys LLP and was an associate at Houlihan Lokey Howard and Zukin, a mid-market focused US investment bank.  Mr. Kupinsky received a BA Economics degree from York University in 1993 and a Joint MBA/JD from the Schulich School of Business and Osgoode Hall Law School in 1997.

Mr. Kupinsky is also considered an independent board member and as such, he will also join the existing Special Committee the formation of which was announced on March 29, 2012.

"Jordan will bring a wealth of experience to Xceed's Board and its Special Committee as the latter determines the best future path for Xceed and its shareholders," noted Michael Jones, President and CEO.

The Company's Board now includes the following members:

	Ivan S. Wahl		Chairman
	Michael R. Jones		President and CEO
	Thomas R. Alton, FCA		Independent Director
	Dr. William Mulvihill		Independent Director
	W. James Taylor		Independent Director
	Jordan Kupinsky		Independent Director

About Xceed Mortgage

Xceed Mortgage Corporation, based in Toronto, is a Canadian provider of residential mortgages that it originates in Canada.  The company has approximately $1.0 billion of mortgages and other assets under administration.  The company's shares are traded on the Toronto Stock Exchange (TSX: XMC).  To find out more about Xceed Mortgage Corporation, visit our website at www.xceedmortgage.com.