Pinetree Capital Ltd. acquires common shares of Treat Systems Inc.

TORONTO, Oct. 18 /CNW/ - Pinetree Capital Ltd. ("Pinetree") announces
that on October 17, 2005 it acquired ownership pursuant to a private placement
of 1,621,541 common shares of Treat Systems Inc. ("Treat"), or approximately
30.5% of the issued outstanding common shares of Treat. As a result of this
purchase, Pinetree and its joint actors held, as at October 17, 2005, an
aggregate of 3,735,469 common shares of Treat and rights to acquire an
aggregate of 1,066,362 common shares of Treat upon exercise of convertible
securities. If Pinetree and its joint actors were to exercise all of these
convertible securities, their combined ownership would represent a total of
4,801,831 common shares of Treat, or approximately 75% of such shares issued
and outstanding, calculated on a partially diluted basis assuming the exercise
of the securities convertible into 1,066,362 common shares only.
These transactions were made for investment purposes and Pinetree and
each of its joint actors could increase or decrease their respective
investments in Treat depending on market conditions or any other relevant
factor.

About Pinetree

Pinetree was incorporated under the laws of the Province of Ontario and
is publicly traded on the Toronto Stock Exchange ("TSX") under the symbol
"PNP". Pinetree develops and manages a portfolio of equity securities of
private and public issuers engaged in growth businesses in the following
sectors: (i) Mining and Oil & Gas; (ii) Biotechnology; and (iii) Technology
and Other. Pinetree's investment focus among these three sectors changes over
time, depending on changing investment opportunities. As well, Pinetree takes
advantage of special situations and merchant banking opportunities.
For more details about Pinetree and its investments, please visit our
website at www.pinetreecapital.com.

This news release contains forward-looking statements within the meaning
of the "safe harbour" provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to risks and
uncertainties and other factors that may cause Pinetree's results to differ
materially from expectations. These include risks relating to market
fluctuations, investee performance and other risks. These forward-looking
statements speak only as of the date hereof. Pinetree disclaims any intent or
obligation to update these forward-looking statements.