(Toronto, ON, May 8, 2007) – On March 15, 2007 Front Street Capital 2004 (“Front Street Capital”) announced that an annual and special meeting of shareholders of Front Street Special Opportunities Canadian Fund Ltd. (“SOF”), a mutual fund corporation that it manages, would be held on May 10, 2007. In addition to the election of directors of SOF and the re-appointment of its auditors, the special business proposed to be considered by shareholders at this meeting was (i) a reorganization of the capital structure of SOF to convert it into a “capital class fund”; (ii) the approval of the merger of certain funds managed by Front Street Capital into SOF; and (iii) a change to the investment objectives, strategy and restrictions of SOF to convert it from a conventional mutual fund to a fund subject to National Instrument 81-104.

Front Street Capital has determined not to proceed with the special business proposed to be considered at this meeting, and accordingly the meeting has been postponed. The annual meeting of shareholders of SOF, to elect directors and reappoint auditors, will be held later this year.

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For further information:

Front Street Capital
Investor Relations
1-800-513-2832
or www.frontstreetcapital.com