Douglas & McIntyre welcomes new ownership

Scott McIntyre, President and Publisher of Douglas & McIntyre Ltd., announced today that a group of leading Vancouver-based private investors have acquired a majority interest in the company in a deal which closed effective April 30, 2007.

VANCOUVER, CANADA -- May 3, 2007 -- The new investors are led by Mark Scott, who becomes President of Douglas & McIntyre. Mark Scott is a former investment banker and Managing Director of investment and corporate banking operations in British Columbia for one of Canada’s major banks. The group includes two of the founders of one of Canada’s largest and most respected private equity firms. Douglas & McIntyre is now positioned for a strong future as a leading Canadian independent publisher. As a part of his role, Mark Scott will initiate efforts to identify and acquire publishing-related businesses in Canada and the United States.

“This is a watershed moment for D&M,” said McIntyre, “and an extraordinary opportunity for Canadian-owned publishing. We are now in a position to grow and plan for the future, with our entire management team remaining intact, and there will be no change to the fundamental direction and idealism of the publishing programs.”

McIntyre, who becomes Chairman in the new structure and remains CEO, added: “I’m not going anywhere. I’ve signed on for an additional five years to guide the publishing group, and am personally very excited about where we can take the company.” Rob Sanders will continue as Vice-President of the company and Publisher of the Greystone Books division, and both McIntyre and Sanders will remain shareholders.

“Quality book publishers are built by talented authors, strong publishers, and passionate editors,” added McIntyre. “Our new investors endorse this fundamental vision. Now, we have British Columbia-based capital ready to support our next generation as an important Canadian book publishing house fully engaged in the international market.”

For further information contact:

Chris Labonté

604-254-7191

chris.labonteATdouglas-mcintyre.com

www.douglas-mcintyre.com

-30-

ABOUT DOUGLAS & MCINTYRE

DOUGLAS & MCINTYRE LTD. was co-founded by Jim Douglas and Scott McIntyre, and published its first books in 1971. Based in Vancouver, but outward looking in its publishing programs, the company opened its Toronto office in 1978, and has since grown into one of the largest and most respected independent book publishers in Canada. It includes the publishing units Douglas & McIntyre, and Greystone Books, plus Canadian distribution for the New York house, Farrar, Straus, & Giroux. Its programs create 60 new titles plus 100 reprints each year, and are internationally recognized for high standards in editorial, design, and production. Since its inception, Douglas & McIntyre has originated some 3000 books. Its core publishing programs emphasize art and architecture; science, nature and the environment; Canadian biography, social and political issues; First Nations issues and culture; literary fiction; and international popular culture and sport. Its books are sold throughout North America, and into some 30 countries around the world in 10 languages.