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CALGARY, ALBERTA - Solium Capital Inc. ("Solium") today announced that it has signed an agreement with Group Retirement Services, a division of The Great-West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company, for Solium to deliver an enhanced level of service to the capital accumulation plan clients of Group Retirement Services. This agreement finalizes the strategic alliance previously agreed to in principle and announced on July 30, 2003. The arrangement brings together the strength of Group Retirement Services' leadership for administering capital accumulation plan products in Canada with Solium's industry-leading applications for administering corporate incentive plans. Under the terms of the arrangement Group Retirement Services will utilize Solium's stock option platform and new share purchase platform as part of its service delivery to clients in Canada. Group Retirement Services will continue to market its products and provide its clients with on-site and back office sales and service including call centre support and administrative processing. Solium will continue to market its products and service its clients on a direct basis, in addition to supporting the business activities of Group Retirement Services. Under the terms of the arrangement, a revenue sharing model is established between Solium and Group Retirement Services. Group Retirement Services currently manages share entitlement programs for 55 corporate clients and approximately 100,000 plan participants. Solium's share of revenue from this arrangement is guaranteed at a minimum of $2.2 million per year during the first two years of the relationship, before any associated costs. Group Retirement Services and Solium will migrate these corporate clients to Solium's stock option and share purchase platforms, with full migration expected to be complete during the first quarter of 2004. Solium will take steps to appoint a representative of The Great-West Life Assurance Company to its Board of Directors, to hold the position until the next Annual General Meeting in 2004. About Great-West Life Assurance Company: Great-West and its subsidiaries, Canada Life and London Life, serve the financial security needs of more than 11 million Canadians. Group Retirement Services has a significant presence in the Canadian capital accumulation plan marketplace. About Solium Capital Inc. (SUM-TSX Venture Exchange): Solium specializes in the administration of equity-based incentive and savings programs. Through its web-based applications, Solium is focused on redefining the service standard for public corporations and their employees. For more information, please visit www.solium.com. -30 - FOR FURTHER INFORMATION PLEASE CONTACT:
Solium Capital Inc. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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