BC Advantage Funds invests in Allon Therapeutics

The BC Tech Fund will be capped at $10 million.

BC Advantage Funds has sold 80% of 2004 tax credits, $2 million in tax credits still available.

Vancouver, November 10, 2004 - BC Advantage Funds (VCC) Ltd. ("Advantage"), announced today that it has invested $500,000 into Allon Therapeutics (TSX:NPC) and that its CEO, Frank Holler, has been appointed to the board of Allon. Allon is developing compounds that have demonstrated potent neuroprotective capabilities in pre-clinical studies in a wide range of chronic and acute neurodegenerative conditions including Alzheimer's, multiple sclerosis, stroke and traumatic brain injury. Allon is expected to commence Phase I clinical trials in humans in 2005.

Separately, Advantage announced that its technology fund, the BC Tech Fund, will soon be fully funded at $10 million (representing approximately $6 million of 2003 tax credits and $4 million of 2004 tax credits) and will be capped at this amount. Dr. Basil Peters will continue to manage the BC Tech Fund and to invest its funds into emerging technology companies.

As approved by Advantage's shareholders at its AGM earlier this year, the name of the Advantage life sciences fund has been changed to the Advantage Venture Fund. The Advantage Venture Fund will serve as Advantage's diversified investment fund for new investments, investing in both technology and life science companies. Once the BC Tech Fund has reached its cap, all future funds raised by Advantage will be deposited into the Advantage Venture Fund. This includes the approximately $2 million in remaining 2004 tax credits which continue to be offered.

For more information about Advantage, please review our prospectus, visit our website, access our one page introductory brochure, or contact our Vice President, Sales and Marketing, Ray Matthews at ray@bcadvantagefunds.com or 604.818.7778.

About Advantage

Advantage is a life sciences and technology fund that offers anyone in BC the opportunity to participate in returns from some of our Province's most promising emerging technology and life science companies and to receive a 30% refundable tax credit from the BC Government on investments of up to $200,000 per year. Advantage was co-founded by Dr. Don Rix, Chairman of the Board; Frank Holler, CEO and Chairman of the Investment Committee; Jim Heppell, President and Life Sciences Fund Manager; Dr. Basil Peters, The BC Technology Fund Manager; and David Raffa, COO and Investment Manager.

This press release does not constitute an offering of securities. The prospectus of Advantage dated November 14, 2003 contains important information pertaining to an investment in Advantage, including management fees, expenses and commissions associated with Advantage and risk factors. To obtain further information and a copy of the Advantage prospectus, please contact a registered investment advisor, or visit SEDAR or the BC Advantage Funds website.

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