BC Advantage Funds Portfolio Company Goes Public

Protiva Biotherapeutics Completes Reverse Merger with Tekmira Pharmaceuticals

Vancouver, June 4, 2008 - BC Advantage Funds (VCC) Ltd. announced today that one of its portfolio companies, Protiva Biotherapeutics went public on June 2, 2008 by way of a reverse merger with Tekmira Pharmaceuticals (TSX:TKM). The reverse merger was carried out concurrently with a $10 million financing of the merged entity by Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY) and the Roche Venture Fund - the investing arm of F. Hoffman-La Roche Ltd. (SWX: ROG).

As a result, the net asset value of ALSFI - already the top performing retail venture capital fund in Canada over the last five years - increased by $3.90 to $16.36 per share. This increases the overall gain on investment to ALSFI shareholders to 163%, which includes the $10 special dividend per share that they received at the end of 2006. Including the 30% tax credit, the overall gain on investment to ALSFI shareholders increases to 277%.

Prior to the completion of the reverse merger, Protiva and Tekmira were deeply involved in litigation regarding intellectual property matters and, for that reason, BC Advantage had fully written off its investment in Protiva. Jim Heppell, President and Partner of Advantage remarked ?We are very pleased with this favorable outcome for Protiva and its shareholders. Protiva and Tekmira were involved in substantial litigation and it is a credit to both of their management teams that they found their way to a successful settlement."

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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