BC Advantage Funds Receives Second Additional Tax Credit Allocation

NAV increase of $1.16 or 13.5% since January 1, 2007

Vancouver, February 27, 2007 - BC Advantage Funds (VCC) Ltd. announced today that, based on strong demand for its shares, it has applied for and received a second additional equity authorization of $2 million. Advantage can now raise a total of $15 million on or before the close of business on March 1, 2007, all of which will provide its investors with a 30% refundable tax credit in relation to their 2006 taxation year. Investors interested in purchasing Advantage 2006 tax credits should contact their investment advisors immediately.

Advantage CEO and Partner, Frank Holler, noted "The strong performance of our investment portfolio has definitely had an impact on our sales this year. We are very pleased to see the interest the market has in our shares, and are grateful to the Investment Capital Branch for providing us with this second additional equity authorization to help meet demand."

The Net Asset Value of the Advantage Venture Fund (BCA100) has increased $1.16 or 13.5% since January 1, 2007. A further increase in the Venture Fund NAV is expected as it does not currently reflect any increase in value from the anticipated initial public offering of OncoGenex Technologies Inc. As previously reported, if OncoGenex completes its initial public offering within the expected pricing range, the Venture Fund will experience an unrealized gain of 300-400% on its $900,000 investment in OncoGenex. This would provide another significant increase to the Advantage Venture Fund NAV. The OncoGenex initial public offering is expected to be priced on or about February 27, 2007. Lions Capital Corp., manager of BC Advantage Funds, is also pleased to announce that it has now surpassed $50,000,000 of assets under management.

About Advantage

Advantage offers everyone in BC the opportunity to invest in some of the Province's most promising life science, technology and clean-technology companies. Advantage investors receive a 30% refundable tax credit from the BC government on investments of up to $200,000 per year.

For more information about Advantage, please review our prospectus, visit our website at www.bcadvantagefunds.com or contact our Vice President, Sales and Marketing, Ray Matthews at rmatthews@lionscapital.com or 604.818.7778.

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