Tri-White Corporation announces normal course issuer bid

Stock Symbol: (TWH  TSX)

TORONTO, Sept. 16 /CNW/ - Tri-White Corporation ("Tri-White") today
announced that the Toronto Stock Exchange (the "TSX") has accepted a notice
filed by Tri-White of its intention to make a normal course issuer bid through
the facilities of the TSX.
The notice provides that Tri-White may, during the twelve-month period
commencing September 20th, 2005 and ending September 19th, 2006 purchase up to
1,146,322 common shares ("Common Shares") in total, being approximately 5% of
the issued and outstanding Common Shares. The price that Tri-White will pay
for any such Common Shares will be the market price at the time of
acquisition. Management of Tri-White will determine the actual number of
Common Shares that may be purchased and the timing of any such purchases.
Tri-White purchased 32,500 Common Shares for cancellation during the last
twelve months at an average cost per share of $7.00. As of August 31, 2005
there were 22,926,449 Common Shares outstanding.
Tri-White believes that its Common Shares have been trading in price
ranges which do not adequately reflect their value in relation to the business
of Tri-White and its future business prospects. As a result, depending upon
future price movements and other factors, Tri-White believes that its
outstanding Common Shares may represent an attractive investment. Furthermore,
the purchases are expected to benefit all persons who continue to hold Common
Shares by increasing their proportionate interest in Tri-White. All Common
Shares purchased by Tri-White under the normal course issuer bid will be
cancelled.
Tri-White Corporation holds a diverse merchant-banking portfolio.     
Tri-White is presently the largest shareholder of ClubLink, Canada's leading
owner, operator and developer of high quality member golf clubs, daily fee
golf clubs and golf resorts with 33 properties in Canada. As well, Tri-White
is the largest shareholder of Clearlink Capital Corporation ("Clearlink").
Clearlink provides customized financing, asset management and equipment
trading services to large organizations through the acquisition of technology
and related equipment. In addition, Tri-White owns a 100% interest in the
historic White Pass & Yukon Route Railway, with strategic holdings in the port
operations and supporting excursions, based in Skagway, Alaska.