C.A. Bancorp Canadian Realty Finance Corporation

C.A. Bancorp Inc. (TSX: BKP) Provides Windward Telecom Ltd. Investment Update

TORONTO, ONTARIO -- (MARKET WIRE) -- 05/27/08 -- Launch of Telecom Network

C.A. Bancorp Inc. ("C.A. Bancorp") (TSX: BKP) is pleased to announce that its portfolio investment, Windward Telecom Ltd. ("Windward"), has successfully launched its international telecommunications network in Trinidad and Tobago. Effective May 13, 2008, Windward's network began carrying its first commercial phone traffic to the nation.

"Expatriates and foreigners calling into Trinidad will be the initial beneficiaries of Windward's wholesale services," said Douglas Cunningham, CEO of Windward. "We are now able to provide material price reductions, improved call quality and enhanced call completion rates to our international carrier partners serving customers in over 230 countries."

Currently, the majority of Windward's revenue is being generated by incoming calls to Trinidad. "The absence of carrier pre-selection, often referred to as "long distance equal access", precludes Trinidadians from directly benefiting from Windward's presence at this juncture," said Cunningham. However, Windward Telecom and other competitive carriers have been notified by the national Trinidadian regulator that the long distance equal access issue will be addressed in the third quarter of this year.

"We are excited by Windward's initial results generated by this successful launch. The investment in Windward is part of the approximately $322 million of C.A. Bancorp's assets invested or under management. This investment forms part of our private equity portfolio where each investment has a targeted rate of return designed to double the money invested," said Mark MacDonald, Managing Director, Private Investments at C.A. Bancorp. "Windward is on track to meet or exceed our return expectations."

TOFFE Project
Moving forward, Windward is in various stages of negotiations with several major oil and gas companies, government agencies and a number of domestic and international carriers to construct the Trinidad Offshore Fibre Electronics ("TOFFE") project. The TOFFE project consists of two self-healing fibre optic rings which would link upwards of 30 gas drilling rigs and production platforms to landing stations situated at Chaguaramas, Crown Point, Tobago and Galeota Point, Trinidad . Windward anticipates making further announcements about the timing of TOFFE project by the end of June.

Additionally, Robert Stauble, Commercial Director of Offshore Technology Solutions Limited has been appointed to Windward's Board of Directors. "Robert will bring value to the Board through his strong network and deep experience in Trinidad's offshore marine industry, especially as we look towards the construction of the TOFFE project," said James Meenan, Chairman of Windward.

Future Growth
Looking ahead to future growth, Windward also intends to file for additional licenses throughout the Caribbean Islands in the months ahead to expand its regional hub from its premises in Port of Spain and Miami thereby reducing the cost of intra- Caribbean calls.

C.A. Bancorp Inc.
C.A. Bancorp Inc. 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. C.A. Bancorp holds a 10% interest in Windward Telecom Ltd. which can be increased to 35% on a diluted-basis.

Windward Telecom Ltd.
Windward Telecom Ltd. provides international telecommunications services to and from the Republic of Trinidad and Tobago . Using a combination of existing and newly-constructed telecommunications fiber optic networks which will land in Trinidad , Windward intends to provide its customers with high quality service, lower pricing, and fast deployment of emerging technologies. For more information on Windward visit www.windwardtelecom.net.

This news release contains forward-looking statements with respect to matters concerning the business, operations, and strategy of C.A. Bancorp. These statements relate to anticipated future events, results, circumstances, performance or expectations that are not historical facts but instead represent the C.A. Bancorp's beliefs regarding future events. Often, but not always, forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe" or "continue", similar words or the negative thereof, or variations of such words and phrases that certain actions, events or anticipated outcomes "may", "would" or "might" be taken, occur or be achieved. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. The future business, operations and performance of C.A. Bancorp discussed herein could differ materially from those expressed or implied by such statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of assumptions which may prove to be incorrect. Additional, important factors that could cause actual results to differ materially from expectations include, among other things, the ability to obtain government and regulatory approvals, High Fidelity's performance and general economic and market factors. C.A. Bancorp cautions that risk factors discussed in applicable continuous disclosure filings required by law that C.A. Bancorp has made and filed on SEDAR including its MD&A and annual information form, should also be considered carefully and that undue reliance not be placed on forward-looking statements as events and results could differ materially from those expressed or implied by forward-looking statements made by C.A. Bancorp. The cautionary statements qualify all forward-looking statements attributable to C.A. Bancorp and persons acting on its behalf. Unless otherwise stated, all forward looking statements speak only as of the date of this news release. C.A. Bancorp does not undertake, and specifically disclaims, any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.