Mr. George Wentworth reports

DELPHX ANNOUNCES GRANT OF STOCK OPTIONS

Delphx Capital Markets Inc.'s board of directors has approved the grant of 1.1 million stock options to eligible participants under its stock option plan. The options have a two-year maturity and are exercisable for common shares of Delphx at an exercise price of 20 cents per common share, all in accordance with the plan.

About Delphx Capital Markets Inc.

Delphx is a technology and financial service company focused on developing and distributing the next generation of structured products. Through its special-purpose vehicle Quantem LLC, the company enables fixed-income dealers to offer new private placement securities that provide mitigation of spread and capital charge losses when downgrades occur, while allowing for attractive returns. The new Delphx securities will enable dealers and their qualified institutional investors' accounts to competitively structure, sell and make markets in:

• Collateralized put options that provide secured rating downgrade protection for underlying corporate bonds;
• Collateralized reference notes that enable investors to take on a capped rating downgrade exposure of an underlying security in exchange for attractive returns.

All CPOs and CRNs are fully collateralized and held in custody by BNY Mellon. CPOs and CRNs are proprietary products created and owned by Delphx Capital Markets.