Avenue to Provide Access to S&P Hedge Fund Index.

TORONTO -- Avenue Financial Corporation ("Avenue")(TSX VENTURE:AFC) is pleased to announce that it has entered into a non-binding letter of intent dated April 6, 2005 with PlusFunds Group Inc ('PlusFunds') concerning investment products that can provide access to the Standard & Poor's Hedge Fund Index for both retail and institutional investors through Avenue Global Asset Management Inc. ('AGAM").

The S&P Hedge Fund Index reflects diversified exposure to over nine major hedge-fund strategies across 40 portfolio managers. On average, constituent managers have in excess of 8 years' experience and $864 million under management within the investment strategy each represents in the Index.

PlusFunds has been at the forefront of providing innovative products and services to hedge-fund investors and managers since it was founded. By virtue of its advanced managed accounts platform, and its alliance with leading global industry partners, PlusFunds has improved hedge-fund accessibility, as well as the quality of information, risk management and oversight in the hedge-fund marketplace. PlusFunds and its strategic partners select highly qualified hedge-fund managers based on documented quantitative techniques, extensive quantitative and qualitative due diligence, and stringent operational reviews.

Colin Berrie, President of Avenue commented, "We are extremely excited to be working with PlusFunds. This is the fastest growing investible index program of its kind in the world with assets in excess of $2.9 Billion. The S&P Hedge Fund Index has demonstrated huge investment appeal to both the institutional and high-net-worth markets. We believe that the infrastructure and design of our offerings can be optimally combined with PlusFunds' investment program to serve the needs of these demanding markets."

Avenue's Special Share Offering (AGAM) for accredited investors is currently being sold through qualified Investment Advisors, Counselors and Planners in select jurisdictions within Canada. These distinctive Special Shares offer high net worth Canadian investors and select institutions access to product managed by top-performing global hedge-fund managers, together with an unique value-added capability to "switch" their initial capital amongst multiple managers on a tax-deferred basis.

About Avenue Financial Corporation

Avenue Financial Corporation is a TSX Venture listed company which designs, develops, and distributes innovative investment products for high net worth investors and institutions. Through its international affiliates Avenue Financial plans to be a global administrator of both segregated and pooled managed fund products and services.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.

Avenue Financial Corporation (TSX VENTURE:AFC)