Broadcaster,  11/16/2006

NewCap Receives CRTC Approval for Ft. McMurray

Newfoundland Capital Corporation announced today that its wholly-owned subsidiary, Newcap Inc., has received approval from the Canadian Radio-television and Telecommunications Commission to operate a new FM
radio licence in Fort McMurray, Alberta (CRTC Decision No.2006-628).

Rob Steele, President and Chief Executive Officer of NCC said "We are extremely pleased to receive CRTC approval for a new licence in Fort McMurray.
Newcap's new FM station will add significantly to the choices available to Fort McMurray residents. We look forward to providing service as quickly as
possible to this vibrant, fast growing community."

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