Rym Announces Update to Proposed Qualifying Transaction With 1141931 Ontario Ltd.

TORONTO -- Rym Capital Corp. (TSX VENTURE:RYM.P) ("Rym" or the Company) wishes to announce that further to its press release dated June 30, 2005, the Company continues to pursue its planned acquisition of 1141931 Ontario Ltd. ("Inkas"). Pursuant to the Letter of Intent dated June 22, 2005 and amended on August 21, 2005, the Company will acquire all of the issued and outstanding securities of Inkas on the basis of 1.207442 common shares of Rym for each outstanding common share of Inkas and one (1) common share of Rym for each outstanding Series A Preferred Share of Inkas (the "TOB"). Inkas currently has 47,621,248 common Shares, and 4,525,000 Series A Preferred Shares outstanding. The Series A Preferred Shares were issued on the completion of a private placement in September of 2005 pursuant to which Inkas raised gross proceeds of $905,000. In conjunction with this placement, Inkas has agreed to issue a total of 446,000 warrants to acquire Series A Preferred Shares at a price of $0.20 per share. Rym will also acquire these warrants in consideration for warrants to acquire 446,000 common shares of Rym on the same terms.

Pursuant to an agreement dated August 17, 2004, a finder's fee will be paid to Y&R Investment Capital Inc. equal to 2,300,000 common shares of Rym for services provided to Inkas including sourcing a public vehicle and providing advice on the structuring and business plan for Inkas.

Please see the press release of June 30, 2005 for details of the transaction and the business carried on by Inkas.

Research Capital Corporation has been retained to act as sponsor with respect to this transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.

Completion of the transactions are subject to a number of conditions, including but not limited to, approval of the Exchange. The transactions cannot close until the required approval is obtained. There can be no assurance that the transactions will be completed as proposed or at all. The TOB is not a "non-arm's length qualifying transaction" within the meaning of Policy 2.4 of the Exchange and as such shareholder approval is not required for the purposes of the TOB.

Investors are cautioned that, except as disclosed in the Filing Statement to be prepared in connection with the TOB, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Rym should be considered highly speculative. The trading in common shares of Rym will remain halted pending review of the transaction by the TSX Venture Exchange and the preparation of a Sponsor Report to the Exchange.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Rym Capital Corp. (TSX VENTURE:RYM.P)