Essex Angel Capital Announces Private Placement of Units

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Essex Angel Capital Inc. (TSX VENTURE:EXC) (the "Corporation") is pleased to
announce that it has received subscriptions for 3,000,000 Units for gross
proceeds of $150,000 (the "Private Placement"). The Private Placement is
scheduled to close forthwith after receipt of the approval from the TSX Venture
Exchange (the "TSXV"). Each Unit is comprised of one common share in the capital
of the Corporation (a "Common Share") and one Common Share purchase warrant (a
"Warrant"). Each Warrant entitles the holder thereof to purchase one Common
Share (a "Warrant Share") at a price of $0.10 per share for a period of 18
months from the issuance date thereof. The Common Shares and, upon the exercise
of the Warrants, the Warrant Shares will be subject to a four month hold period
in accordance with applicable Canadian securities laws.


This news release does not constitute an offer to sell or solicitation of an
offer to sell any of the Common Shares in the United States. The Common Shares
have not been and will not be registered under the United States Securities Act
of 1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to a U.S. Person unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available. 


This press release contains certain forward-looking statements about the
Corporation's future plans and intentions. Wherever possible, words such as
"may", "will", "should", "could", "expect", "plan", "intend", "anticipate",
"believe", "estimate", "predict" or "potential" or the negative or other
variations of these words, or similar words or phrases, have been used to
identify these forward-looking statements. These statements reflect Management's
current beliefs and are based on information currently available to management
as at the date hereof. Forward-looking statements included or incorporated by
reference in this press release include statements with respect to proposed
terms of the Private Placement and the anticipated closing of the Private
Placement. 


Forward-looking statements involve significant risk, uncertainties and
assumptions. Many factors could cause actual results, performance or
achievements to differ materially from the results discussed or implied in the
forward-looking statements. These factors should be considered carefully and
readers should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in this press release are
based upon what management believes to be reasonable assumptions, the
Corporation cannot assure readers that actual results will be consistent with
these forward-looking statements. These forward-looking statements are made as
of the date of this press release, and the Corporation assumes no obligation to
update or revise them to reflect new events or circumstances, except as required
by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Essex Angel Capital Inc.
Richard Galdi
Chief Executive Officer
519-969-0129
[e-mail]