Tri-White Corporation announces strategic initiative

Stock Symbol: (TWH  TSX)

TORONTO, Sept. 28 /CNW/ - The Board of Directors of Tri-White Corporation
today announced a strategic initiative to address the future of its
significant investment in its wholly-owned subsidiary, White Pass & Yukon
Route. The investigation of the potential for the asset could include the sale
of all or part of this business, a strategic alliance or partnership or other
restructuring of the asset within Tri-White.
The Company is in the process of retaining a financial advisor to assist
with the strategic planning activities and expects to move forward with a
recommendation in 2006.
K. Rai Sahi, Chairman and Chief Executive Officer, stated:
"Since Tri-White's inception in 1997, White Pass has been a cornerstone
of the Company's portfolio. With it's world class rail excursion and highly
rated port facilities in Skagway, Alaska, this business unit has built on its
blue chip customer base, delivering unparalleled growth and generating
substantial cash flow for our shareholders.
As with all of our investments, we periodically examine the stage of
development within each company to assess the value created and to define a
program to meet the Tri-White business objectives".

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 34 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.