IBEW LU 353 Member Appointed CEO of Retrocom Growth Fund Inc.

Press Release Source: Retrocom Growth Fund Inc.

Retrocom Growth Fund Inc. Announces New Chief Executive Officer
Wednesday May 26, 5:39 pm ET

MISSISSAUGA, Ontario--(BUSINESS WIRE)--May 26, 2004--At its Annual General Meeting, Michael Steplock, Chairman of the Fund, was pleased to announce that the Board of Directors of Retrocom Growth Fund Inc. ("Fund") have appointed Joseph Fashion as Chief Executive Officer.

Joseph Fashion has been a director of the Fund since its inception and brings with him over 48 years of experience in business management and the construction industry. Mr. Fashion has been the Business Manager and Financial Secretary for Local Union 353 of the International Brotherhood of Electrical Workers for the last 16 years and is a member of the Electrical Trades Joint Board of the Construction Council of Ontario. He is also President of the IBEW Construction Council of Ontario.

"I look forward to serving the shareholders of Retrocom Growth Fund as CEO," said Mr. Fashion. "Having been with the fund for almost 10 years, I can confidently say that I have never been more excited about our growth prospects than I am this year."

At the same Annual General Meeting, Mr. Neil McCormick was appointed as a director of the Fund. Since 2000, Mr. McCormick has been the Business Manager of the Ontario Pipe Trades Council of Plumbers and Steamfitters and is currently the Vice President of the Ontario Building and Construction Trades Department. Prior to 2000, Mr. McCormick was the Business Manager of the United Association of Plumbers and Steamfitters, Local 67, in Hamilton, Ontario.

The re-elected directors at this year's Annual General Meeting included the following individuals: Michael Steplock, Joseph Fashion, Patrick Dillon, Robert Blakely, Robert Nash, Ralph Tersigni, Eryl Roberts, Primo Fantin and James Henley.

About Retrocom Growth Fund Inc.

Retrocom Growth Fund Inc. is a leading labour-sponsored investment fund which primarily makes subordinated and mezzanine investment loans to small and medium sized companies for the construction and development of real estate projects. To date, the Fund's investments have created or will create more than 3 million man-hours in Canada. The Fund has consistently met labour-sponsored investment fund requirements. Please see www.retrocom.ca for more information.
Contact:

Retrocom Investment Management Inc.
Brett Mckinstry, 905-848-2430
bmckinstry@retrocom.ca.
www.retrocom.ca


Source: Retrocom Growth Fund Inc.