Firstfund to acquire land and settle debt

Trading Symbol: FFP

VANCOUVER, June 8 /CNW/ - Consolidated Firstfund Capital Corp. (the "Company") has entered into an agreement to purchase 5.17 acres of land situated in Whatcom County, Washington from Vitality Products Inc. ("Vitality") for a total consideration of $400,000, subject to regulatory approval. Vitality is a related company managed by common directors and officers and controlled by a common director, and the proposed sale has been approved by the Company's independent Board members and is considered by the Company to be at fair market value for said land. Vitality will use the proceeds of the sale to reduce the amount of share subscriptions outstanding received from Firstfund.

The Company has also entered into a debt settlement agreement with Vitality to settle aggregate indebtedness in the amount of $150,000 by way of the issuance of 750,000 common shares of Vitality to the Company at a deemed settlement price of $0.20 per share, subject to regulatory approval.

On behalf of the Board of

CONSOLIDATED FIRSTFUND CAPITAL CORP.

William N. Grant (signed)

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William N. Grant, President & CEO

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.

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