Connaught Capital Inc. Announces Signing of Letter of Intent.

SALT LAKE CITY -- Connaught Capital Inc. (the "corporation"), a Delaware corporation, approved for trading on the OTC (Pink Sheets: CNNU), announced that it has entered into a preliminary agreement to acquire ExchangeBlvdCorp.com, a private Delaware corporation ("Exchange Blvd."). The acquisition is expected to be closed within the next two months, but is subject to due diligence review and other matters including the raising of at least $1 million at $0.50 per share. Subject to such closing, of which there is no assurance, the transaction is expected to involve on behalf of the corporation, a name change, change of management, change of corporate office and a 1-for-2 reverse stock split. The reverse stock split will not be effective until further announced after 10-day notice. Furthermore, the corporation is expected to have approximately 33 million common shares outstanding after the closing, however any of the terms of the acquisition could change prior to the closing. Discussion between the parties could terminate at any time.

Exchange Blvd. provides consumers, manufacturers, and retailers with an innovative solution for liquidating specialty products by integrating proprietary auction marketplace technology with more traditional merchandising. This innovative process is open ended, extremely scalable, and can be customized to meet the needs of individual consumers or businesses of any size.

The primary business model is focused on designing, planning, developing, managing and operating industry specialized online trading environments through an Internet-based community in which buyers and sellers are brought together to buy and sell merchandise. Currently the company owns and operates two subsidiary entities, GolfClubExchange.com, which focuses on golf clubs and golf equipment, and InstrumentExchange.com, which concentrates on musical instruments and related musical equipment and gear.

Exchange Blvd.'s online service permits sellers to list items for sale, buyers to bid on items of interest, and all users to browse through listed items in a fully-automated, industry-specific, product-arranged service that is available online seven days a week. Additionally, Exchange Blvd., through it subsidiaries, provides shipping assistance, credit card processing and other merchant service-related transactions, a guaranteed inspection period for all products, as well as secure payment and fund remittance services.

This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein.