Clarke Inc. announces increased investment in Somerset Entertainment Income Fund

TSX: CKI; CKI.DB; CKI.DB.A

HALIFAX, April 28 /CNW/ - Clarke Inc. ("Clarke") announces that it has acquired 600,000 units of Somerset Entertainment Income Fund ("Somerset") bringing its total holdings in Somerset to 3,585,600 units representing approximately 24.74% of the total outstanding units of Somerset, and approximately 20.13% of the voting rights attached to all issued and outstanding securities of Somerset. The acquisition was made pursuant to an exemption from the takeover bid requirements under applicable securities laws.

The Somerset units held by Clarke and Michael Andlauer, a director of Clarke, together total 3,783,251 units, representing approximately 26.10% of the total outstanding units of Somerset and approximately 21.24% of the voting rights attached to all issued and outstanding securities of Somerset.

The purchase of the Somerset units by Clarke was made through the facilities of the Toronto Stock Exchange for investment purposes. Clarke may, from time to time, acquire additional units of Somerset, dispose of some or all of the existing or additional units of Somerset, or continue to hold the units of Somerset in the normal course of Clarke's investment activities.

The issuance of this news release does not constitute an admission by Clarke that it is acting jointly or in concert with Mr. Andlauer with respect to units of Somerset.

About Clarke

Halifax-based Clarke Inc., led by an entrepreneurial team of investment professionals, is an activist and catalyst investment company that creates shareholder value by identifying businesses with the potential for improved performance, and working actively to uncover the value.

Clarke's securities trade on the Toronto Stock Exchange (CKI, CKI.DB, CKI.DB.A); for more information about Clarke Inc., please visit our website at www.clarkeinc.com.

Contacts

Melinda Lee
Vice President Investments
Clarke Inc.
(902) 442-3420
Fax: (902) 423-4001