Counsel Corporation Sells Investment in CJ Apparel Group, LLC

TORONTO, ONTARIO, Apr 10 (MARKET WIRE) --
Counsel Corporation ("Counsel") (TSX: CXS) and Knight's Bridge Capital
Partners Inc. ("Knight's Bridge") announced today that Counsel has sold
its portfolio investment in CJ Apparel Group, LLC ("CJ") for proceeds of
approximately US$8 million, resulting in a cumulative profit of
approximately US$4.8 million since its original investment in December,
2006. Knight's Bridge was responsible for sourcing and managing this
portfolio investment opportunity for Counsel.

"We are very pleased about the sale of our investment in CJ. It
exemplifies our ability to create value for Counsel and its shareholders
as we continue to look for new opportunities," said Allan Silber,
Chairman and CEO of Counsel.

CJ is a designer, manufacturer and importer of casual apparel, in the
women's, men's and children's markets. CJ sells under a number of trade
names, including Caribbean Joe Island Supply Company, CJ Apparel, Havana
Jack Cafe, Jamaica Bay and Periscope, all of which are controlled by CJ.
CJ also has a well-developed licensing business under the Caribbean Joe
label, with products in such key categories as swimwear, eyewear,
footwear, and home goods.

"The sale of CJ represents a significant success for Knight's Bridge, its
investment strategy and our management team," said Kenny Finkelstein, the
President and Chief Executive Officer of Knight's Bridge. Mr. Finkelstein
continued, "We will continue to look for opportunities to build on our
successes and create value for our investors."

About Knight's Bridge

Knight's Bridge is an opportunistic and diversified financial services
provider located in Toronto, Canada and Phoenix, Arizona with a focus on
building portfolio companies into market leaders. Knight's Bridge focuses
on making investments in businesses and industries where other private
equity investors have historically lacked focus, and looks to invest in
businesses that are being operated by passionate and experienced
entrepreneurs. Knight's Bridge also provides guidance, strategic support
and access to key contacts - not just capital. Knight's Bridge is a
wholly-owned subsidiary of Counsel. For further information, please visit
Knight's Bridge's website at www.kbcpartners.com.

About Counsel Corporation

Counsel Corporation (TSX: CXS) is an international asset management firm
that actively partners with businesses to achieve shared success and to
unlock value through leveraging our relationships, our access to capital
and our strategic market experience. For further information, please
visit Counsel's website at www.counselcorp.com.

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
Counsel's expectations, should be considered as forward-looking
statements. Such statements are based on knowledge of the environment in
which Counsel currently operates, but because of the factors listed
herein, as well as other factors beyond Counsel'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 Counsel's securities and other regulatory filings.

Contacts:
Counsel Corporation
Stephen Weintraub
Executive Vice President, Secretary & CFO
(416) 866-3058
(416) 866-3061 (FAX)
Email: saw@counselcorp.com
Website: www.counselcorp.com

Knight's Bridge Capital Partners Inc.
Kenny Finkelstein
Chief Executive Officer
(416) 866-3133
Email: kf@knightsbridgecapital.ca
Website: www.kbcpartners.com

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