BC Advantage Sells Out of 2004 Tax Credits

Sales of 2005 Tax Credits begin Tuesday, January 4, 2005

Vancouver, December 9, 2004 - BC Advantage Funds (VCC) Ltd. ("Advantage") announced today that it has sold out its $10 million 2004 tax credit allocation and will halt sales of its shares for the remainder of the year.

"We are very pleased with the enthusiastic response Advantage has received from investors and investment advisors in British Columbia," stated Frank Holler, CEO of Advantage. "Over the past 13 months, investors have subscribed for more than $22 million of Advantage shares. Furthermore, we have been allocated additional tax credits by the B.C. government for each of the 2005 and 2006 tax years. This will allow Advantage to continue its rapid growth in coming years."

Advantage will begin sales of its 2005 tax credit shares through FundSERV on Tuesday, January 4, 2005. Investors purchasing Advantage shares on or after January 4, 2005 will receive tax credits toward their 2005 income taxes.

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 an early-stage life sciences and technology fund that offers anyone in BC the opportunity to participate in returns from some of our Province's most promising young technology and life science companies and to receive a 30% refundable tax credit from the BC Government. 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, 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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