Correcting...In the news release transmitted earlier today, there was an error in the first line of the first paragraph. The correct and complete news release is as follows. CORRECTION: Blond Bear Announces Agreement with LTC Group Purchasing.

CALGARY, ALBERTA--(BUSINESS WIRE)--June 6, 1997--Blond Bear (Alberta Stock Exchange BB.) Blond Bear Holdings Inc., a JCP listed for rading on the ASE (symbol "BB"), has been advised by Mainchan Communications Group Inc. ("Mainchan") that an agreement has been signed with LTC Group Purchasing ("LTC"), of Ontario, whereby Mainchan provides long distance voice services to LTC, it's facilities and residents, and employees of the facilities ("subscribers"). Mainchan offers a program to the subscribers called DialSave whereby subscribers can receive substantial discounts off direct dial long distance calls in Canada. LTC, a division of Extendicare (Canada) Inc., provides services in the nursing home environment.

Alice Chan, Purchasing Agent for LTC said, "During the term of this agreement, the subscribers have benefited from the substantial discounts received through the use of DialSave".

On March 14, 1997, Blond Bear announced an agreement to purchase the issued and outstanding shares of Mainchan which acquisition will constitute its Major Transaction. Mainchan is a registered long distance switchless reseller and sharing group administrator.

This agreement is subject to regulatory and shareholder approval. On May 13, Blond Bear submitted Major Transaction documents to the ASE for review. A shareholders meeting will be held as soon as regulatory approval of the acquisition has been received. -0- THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN.

CONTACT: Blond Bear Holdings Inc.

Brent Mainwood, 403/262-7762

403/262-7738 (FAX)

or

Mainchan Communications Group Inc.

Stephen Chan, 905/940-8331

905/940-8332 (FAX)