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TORONTO, ONTARIO--(Marketwire - June 2, 2010) - C.A. Bancorp Inc. ("C.A. Bancorp" or the "Company") (TSX:BKP) today announced that it has entered into an agreement to sell all of its units ("Units") in the capital of Charter Real Estate Investment Trust ("Charter") (TSX VENTURE:CRH.UN) to IGW Public Limited Partnership ("IGW"), an affiliate of League Assets Corp. at a sale price of $1.45 per Unit (the "Sale"). C.A. Bancorp holds 6,047,095 Units, representing approximately 33% of the outstanding Units of Charter. The Sale is expected to close on June 3, 2010 and to yield gross proceeds to C.A. Bancorp of approximately $8.77 million.

In connection with the Sale, the management agreement dated March 27, 2007 between Charter and C.A. Realty Management ("CARM"), a wholly owned subsidiary of the Company, will be terminated and Charter will enter into a new management agreement (the "Management Agreement") with LAPP Global Asset Management Corp. ("LAPP"), a subsidiary of IGW, in a form mutually acceptable to Charter and LAPP. In addition to the Management Agreement, the Company and CARM have agreed to provide certain transitional services (the "Transitional Services") to LAPP to assist LAPP in performing its obligations under the Management Agreement. LAPP will pay to C.A. Bancorp an amount necessary to cover the Company's reasonable expenses in carrying out its duties in respect of the Transitional Services. The Company's direct costs of the termination of the Management Agreement, including severance payments, total approximately $686,000.

Century Services LP ("Century"), which is party to a previously disclosed pre-acquisition agreement dated May 12, 2010 with the Company, consented to the proposed Sale.

About C.A. Bancorp Inc.

C.A. Bancorp is a publicly traded Canadian merchant bank and alternative asset manager that provides investors with access to a range of private equity and other alternative asset class investment opportunities. C.A. Bancorp is focused on investments in small- and middle- capitalization public and private companies, with emphasis on the industrials, real estate, infrastructure and financial services sectors.

Forward Looking Statements

This release includes certain forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or the negative thereof or variations thereon or similar terminology. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will provide to be correct. These forward-looking statements are subject to a number of risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements.