Counsel RB Capital Expands North American Capabilities with Appointment of Seasoned Senior VP Dave Phillips to Spearhead Canadi

WHITE PLAINS, N.Y. & TORONTO--([ BUSINESS WIRE ])--Counsel RB Capital Inc. (OTCBB: CRBN) (the aCompanya), a leader in distressed and surplus capital asset transactions, today announced that financial industry veteran, Dave Phillips, has been named Senior Vice President with responsibility for managing the Companya�s Canadian new business development efforts.

aAs a fast-growing organization uniquely focused on the distressed asset space, we believe the Canadian market represents a great opportunity for diversifying our geographic reach. Our research and market knowledge indicates that Canada has a growing number of surplus capital asset opportunities for Counsel RB to leverage given our industry expertise,a stated Adam Reich Counsel RB Capital Inc. Co-CEO. aAfter a comprehensive search for a qualified senior executive to lead this initiative it became evident that Dave was an excellent fit given his range of relevant experience and key relationships built over three decades in Canadian business development, commercial finance and banking. We are very pleased to welcome Dave to our team and look forward to the benefit of his contributions.a

Mr. Phillips recently served as Senior Vice President, New Business at Wachovia Capital Finance Corporation Canada (f/k/a Congress Financial Corporation Canada), a leading asset based lender. Prior to that, at GE Capital Commercial Finance he was Vice President, Originations. His banking experience includes a combined 20 years at Scotiabank and Continental Bank of Canada (predecessor to HSBC Canada). Dave is a Fellow to the Institute of Canadian Bankers (FICB), Past President of the Canadian Chapter of the Commercial Finance Association and a member of the Turnaround Management Association.

About Counsel RB Capital ([ www.counselrb.com ])

Counsel RB Capital Inc. (CRBN) is a value-driven, innovative leader in distressed and surplus capital assets transactions. The Company focuses on identifying, acquiring and monetizing distressed and surplus capital assets. It specializes in acquiring turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, accounts receivable portfolios and related intellectual property.

Forward-Looking Statements

The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address the Company's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of the factors listed herein, as well as other factors beyond the Company's control, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to, obtaining necessary approvals and other risks detailed from time to time in the Company's securities and other regulatory filings.

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Counsel RB Capital Expands North American Capabilities with Appointment of Seasoned Senior VP Dave Phillips to Spearhead Canadi