Boulevard Capital Ltd. - Announcement.

Business Editors

VANCOUVER, B.C., Canada--(BUSINESS WIRE)--March 21, 2000

On March 10, 2000, Boulevard Capital Ltd. (CDNX:BVD), (Boulevard) signed a formal share purchase agreement with Dome Communications Inc., ("Dome") to acquire all the issued and outstanding shares of Dome. Dome is a full spectrum telecommunication and cable/fibre infrastructure contractor located in Burnaby, British Columbia, that offers specialized technical services to the major telecommunications companies in Canada. These services include design, construction, and maintenance of fibre and cable wide area networks and residential and commercial distribution systems for television, telephone and data services.

Dome's technical expertise and operating efficiency has established it as a prime contractor for Bell ExpressVu and Novus Telecom. Dome is currently completing projects for Bell ExpressVu and Novus Telecom on a daily basis and construction installation and maintenance agreements are being negotiated with AT&T, Group Telecom and other voice, internet, data and cable TV service providers and public utilities in South West British Columbia. Through acquisitions and expansion Dome intends to be a major outsourcing contractor in Canada and the U.S. Pacific Northwest for communications infrastructure projects and ongoing customer service and network maintenance.

Dome's Competitive Advantages

Dome's operational management team has performed work as primary contractor for Bell ExpressVu, AT&T, Novus Telecom, Group Telecom and MDU Communications and brings these customers with them to Dome. Effective past performance puts Dome as a leading contender for contracts from new service providers. The cable and fibre installer and service segment of the burgeoning telecommunications industry is highly fragmented. Dome's competition comes from small, undercapitalized companies and owner operators, who have neither the management team nor technical expertise nor access to capital needed to meet the demands of diverse national telecommunications providers

Dome offers a unique vertically integrated and skilled workforce that provides seamless end-to-end infrastructure construction and consistent customer service. Managements goal is to grow into a national operation to serve its major clients, which are already in the process of becoming national. Dome's management forsees consolidation and national or extra-regional service provision in the currently fragmented metropolitan cable/fibre contractor segment as inevitable in order to meet the requirements of national and international telecommunications providers.

Management Team

Dome has attracted one of the most experienced technical and administrative management teams in the Canadian cable/fibre installer business through a consolidation of the major contractors in the Lower Mainland of British Columbia.

LESLIE E. MAEROV, President and CEO, practiced corporate and commercial law for 22 years, for high tech and other business clients and acted as an advisor at the executive and director level. He was the co-managing partner of his ten lawyer Vancouver law firm for 16 years before joining Lightwave Communications Inc., a cable/fibre installer, in September 1997, as senior vice-president, developing its corporate structure and its expansion and financing strategies. He will lead Dome's growth through winning contract awards, acquiring other installers and building a superior management team.

RALPH BELLEFLEUR Chief Financial Officer, has had 25 years of progressively more responsible experience in the financial management field. He spent ten years as Chief Financial Officer of the Crown Paper Division of Fletcher Challenge and a further two years as Vice-President, Finance, of Unisource Canada-West, Crown Paper's successor. For the past four years he has provided financial management and strategic planning consulting services to venture exchange companies. Mr. Bellefleur has experience in all aspects of accounting and finance as well as a broader background in operations, facilities management, reorganization of operations, strategic planning and human resources management.

RON DEWHURST, Vice-president, Technical Services, has been in the computer and consumer electronics industry over 17 years, during which time he designed the industry accepted "Smart-Com" home electronic wiring design to accommodate emerging broadband technologies, and the Nova Scotia Power Smart wiring standard so that future broadband services could be marketed to the utility's consumer base. Mr. Dewhurst is responsible for the development of business opportunities with service bundlers, utility companies and developers.

RAY MCMILLAN, Director, Commercial Operations, has worked for all of the leading cable contractors in the Lower Mainland of B.C. over the past 17 years. Beginning as a cable installer he ultimately became operations manager at Regent Communications Inc. and then Lightwave Communications Inc., responsible for all day to day operations of a 70 person work force, including installers, foremen, warehousemen and mechanics.

Details of Acquisition

1. Purchase Price The consideration to be paid by Boulevard for

Dome Shares (the "Purchase Price") on the Closing Date will be

the sum of One Million Seven Hundred and Thirty Thousand

($1,730,000) Dollars which will be paid as follows:

(a) by the issuance at closing of two million, (2,000,000) free

trading shares of Boulevard, having a deemed value of

Eighty-five ($0.85) Cents per share and subject to a one year

hold period; and

(b) by the issuance of three million (3,000,000) common shares of

Boulevard at a deemed price of One ($0.01) Cent per share (the

Performance Shares), which Performance Shares will be subject

to the terms of an earn-out escrow agreement (the "Earn-Out

Agreement), the performance shares are released on the basis

of one (1) share for every $1.00 of pre-tax income adjusted to

add back the following expenses: depreciation, amortization,

income taxes and inter-company management fees.

2. Pooling Agreement - The shares of each Principal of Dome

receiving Trading Shares and Performance Shares will be placed

in escrow with an Escrow Agent pursuant to the following

terms:

(a) one-third (1/3) of the shares shall be released on April 1,

2001, one-third (1/3) of the shares shall be released on April

1, 2002, and one-third (1/3) of the shares shall be released

on April 1, 2003, subject to the Principal being an employee

of Dome on those dates;

(b) Trading Shares or Performance Shares, which have not been

released from escrow pursuant to the Pooling Agreement, may be

transferred to another person as may be designated by the

Board of Boulevard under conditions set forth in the Pooling

Agreement filed with the Exchange.

3. Boulevard will use its best efforts to raise up to $2.5

million dollars within one (1) year of closing by way of

private placement. These funds will be substantially applied

to the business of Dome.

4. 500,000 option shares are to be allocated to the management of

Dome upon closing.

5. Management agreements are in place with the three principals

of Dome (percentage ownership of Dome in brackets) - Leslie

Maerov (85%), Ron Dewhurst (9%), and Ray McMillan (6%). All

principals are residents of Greater Vancouver.

6. Leslie Maerov will be appointed to the board of Boulevard.

7. All documentation including a technical/evaluation report

currently being prepared will be submitted to the Canadian

Venture Exchange (The Exchange) for approval.

Annual General Meeting

Approval of the transaction will be sought at the Company's Annual General Meeting set for 2:00 p.m. April 20, 2000, at its registered offices located at 1710 - 1177 West Hastings Street, Vancouver BC. An announcement was issued in a national paper on February 18, 2000, giving notice of meeting.

Sponsorship

Global Securities Corporation Inc., (Global) subject to completion of satisfactory due diligence, has agreed to act as sponsor to Boulevard in connection with the transaction. A corporate finance fee will be paid to Global. An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.

Due Diligence

An independent technical/assessment report is in the process of being prepared for the regulatory authorities by a qualified analyst and will be submitted to the Exchange upon completion.

Funding

The Company wishes to announce that, subject to Regulatory approval, it has negotiated a non-brokered private placement of up to 2.5 million special warrants ("Special Warrants") of the Company at a price of $1.00 per Special Warrant for gross proceeds of $2.5 million dollars. The special Warrants are convertible, without further consideration, into Units of the Company. Each unit will consist of one common share in the capital of the Company and one non-transferable common share purchase Warrant ("Warrant"). One Warrant and $1.50 will entitle the holder to acquire one additional common share of the Company during the first year of the term and the One Warrant and $1.75 will entitle the holder to acquire one additional common share of the Company during the second year of the term.

A finder's fee may be payable on a portion of the funds in accordance with the Exchange Policy.

Capital Structure of Boulevard Capital Ltd.

The company's authorized capital consists of 20,000,000 common shares of which 5,570,191 common shares are currently issued and outstanding. 445,000 stock options and 400,000 share purchase warrants are currently issued.

Transfer of Debt Escrow Stock

Current principals of Boulevard will transfer 900,000 shares of debt escrow shares to incoming principals.

Following the Company completion of the acquisition, the Company's directors and officers are expected to be:

     Randy Peaker - President, Director
     Robert Chikites - Director
     Derek De Biasio - Director
     Leslie E. Maerov - Director

For further information contact Investor Relations.
Tell: [phone]
Toll Free: [phone]     Email: [e-mail]

     On behalf of the Board of Directors

     Randy Peaker
     President


Completion of the transaction is subject to a number of conditions,
including but not limited to, Exchange acceptance and shareholder
approval. The transaction cannot close until the required shareholder
approval is obtained. There is no assurance that the transaction will
be completed as proposed or at all. The Canadian Venture Exchange has
neither approved nor disapproved of the information contained herein.
This news release may contain forward looking statements.

Boulevard Capital Ltd.
720 - 475 Howe Street
Vancouver, BC V6C 2B3
Phone:  [phone]
Fax: [phone]
Email: [e-mail]

Thursday March 16, 2000
Shares issued 5,570,191
Stock Symbol  "BVD" Canadian Venture Exchange