Tally-Ho Ventures Announces Planned Acquisition of Protrust Private Clients; Newly Organized Firm Will Have $1.75 Billion in Assets Under Management.

NEW YORK -- Tally-Ho Ventures, Inc., (OTCBB: TLYH), today announced that it has signed an agreement on the principal terms of the acquisition of Switzerland-based Protrust Private Clients S.A. ("PTPC") for $8 million in cash and stock subject to certain closing transactions and draw down of the funding. The transaction, which is expected to be finalized and completed within 14 working days, will see the addition of PTPC, which provides asset management services for high net worth individuals, corporations and trust funds, to Tally-Ho's expanding portfolio of businesses.

PTPC, A Swiss fiduciary company, which manages more than $1.0 billion in assets for investors internationally, will be absorbed into the operations of Tally-Ho. As a result of the Protrust acquisition and the recent acquisition of Master Finance Europe (MFE), Tally Ho will have $1.75 billion under its management.

"A significant opportunity exists in Europe for the roll up and integration of quality wealth management organizations and it is our intention to pursue this in a vigorous but disciplined way," stated Peter Smith, President and Chief Executive Officer of Tally-Ho. "The addition of Protrust adds tremendous earnings, stability and organic growth potential."

"The intergration of Protrust will be a valuable asset to our group," stated Tally-Ho Chief Operating Officer Nigel Gregg. "Protrust is effectively a product provider and Master Finance is a distribution arm that can market its products. It is a perfect match that can lead to an anticipated acceleration in revenues. Tally-Ho will continue to concentrate on acquisitions with growth opportunities in Europe, as evident by the acquisition of PTPC. Switzerland is Europe's No. 1 banking center and holds the largest percentage of the world's offshore funds."

In the first quarter ended March 31, 2006, Tally-Ho reported revenues of $1.7 million and a net profit of $315,000, or $0.04 per share, a trend which is expected to accelerate sharply with the combination of ProTrust and Master Finance, two well-established and well regarded European wealth managers

About Protrust

Protrust Private Clients S.A. (Protrust), originally established in 1992, transformed itself into an authorized Fiduciary (Trust) in August 1996 as Protrust Switzerland SA. The name changed to Protrust Private Clients SA in February 2001 as part of a group re-branding exercise. Protrust was set up specifically to manage leveraged with-profits investments for high net worth investors, under the terms of a Discretionary Management Agreement. Over the last nine years, Protrust has built up a significant portfolio of funds under management, which generates a substantial ongoing revenue stream. Protrust is a fully authorized Fiduciary company, subject to the regulatory control of the Swiss Cantonal Government. As such Protrust is able to offer the full range of services to clients including: full discretionary management, holding clients assets in Protrust's name, and trading for clients over a wide range of assets including investments and real estate.

Protrust has been subject to regular regulatory inspections by KPMG on behalf of the OAD - FCT and no regulatory issues have been raised.

Protrust has successfully acted as an interface between UK and Offshore life offices and independent intermediaries in Italy, Switzerland and the Far East and is regarded as one of the founders of leveraged With-Profits business. Protrust has managed this type of business successfully for over a decade. Success has come through specialization and concentration on a niche product and by providing services for investors and distributors.

Having been established for some years in the market the management and support team is extremely competent and very experienced. Protrust is very cost effective, as it is able to manage a large portfolio without the need for large numbers of staff. Under the terms of the letter of intent, the operations of Protrust are expected to become an operating subsidiary of Tally-Ho Ventures, with key members of the Protrust management team entering into long-term employment contracts. Completion of the transaction is subject to final negotiation of a share purchase agreement, completion of due diligence and satisfaction of customary conditions to closing.

About Master Finance

The Master Finance Europe (MFE) group is a private wealth management organization focused on serving the needs of mid wealth families and individuals in Luxembourg, Belgium and France. MFE only markets products through its proprietary sales force of 20 people and its network of 200 Insurance Brokers. The products, which are marketed by MFE, are done so on an exclusive basis in the regions in which they operate, i.e. there are no other providers of the same products in these regions.

The original model for the company was developed in 1980 selling American mutual funds and American Canadian real estate investments. The business grew successfully over this period and was incorporated in its current model by the purchase of Merchant Capital S.A. After various capital restructures it became Master Finance.

In 1991 MFE diversified its products base into offering with profit investment funds from high profile providers and sales peaked in the year 2001 at (euro) 231M in total sales.

In 2003, MFE negotiated with the Prudential to offer a with profits based fund on an exclusive basis and, with the upturn in the stock market, sales began to recover and since 2003 sales have improved by 20% year on year.

MFE operates on an "initial commission" basis because of the nature of the products that are sold. No monthly payment products exist, although there is a development in the pensions and the mortgage area being developed presently. With initial commission MFE is not susceptible to any claw back commissions. There are a small amount of renewal commissions amounting to (euro) 150,000 per annum.

MFE had a geographically diverse shareholding which management felt, was over complicated and required restructuring prior to a sale. This has been achieved by a new vehicle being formed called Master Finance Europe. This vehicle has purchased all the outstanding shares and the business of Master Finance S.A, leaving behind a certain amount of cash and ring fencing the ongoing situation with the leverage funds.

About Tally-Ho Ventures, Inc.

Tally-Ho Ventures is an independent international private wealth management organization focused on serving the needs of small institutions and high net-worth individuals throughout the world.

Forward-Looking Statements 

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, the independent authority of the special committee to act on the matters discussed, the successful negotiation of the potential acquisition and disposal of transactions described above, successful implementation of the company's business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission.