Counsel Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. The 2009 third quarter loss from continuing operations was CAD 4.0 million, or CAD 0.07 per share basic and diluted, compared with income of CAD 0.1 million, or CAD 0.00 per share, basic and diluted, for the three months ended September 30, 2008. Including discontinued operations, the Company had a net loss of CAD 3.9 million or CAD 0.07 per share basic and diluted, for the three months ended September 30, 2009, compared with net income of CAD 0.1 million, or CAD 0.00 per share, basic and diluted, for the three months ended September 30, 2008. The company reported income before depreciation, amortization, interest expense, income taxes, non-controlling interest and discontinued operations of CAD 202,000 and loss before income taxes, non-controlling interest and discontinued operations of CAD 2.329 million on revenue of CAD 10.750 million compared to income before depreciation, amortization, interest expense, income taxes, non-controlling interest and discontinued operations of CAD 2.332 million and loss before income taxes, non-controlling interest and discontinued operations of CAD 0.713 million on revenue of CAD 20.840 million for the same period of last year. Income from continuing operations was CAD 0.3 million, or CAD 0.01 per share basic and diluted, for the nine months ended September 30, 2009, compared with CAD 1.8 million, or CAD 0.04 per share, basic and diluted, for the same nine months in 2008. For the nine months ended September 30, 2009, the Company had net income of CAD 0.6 million or CAD 0.01 per share basic and diluted, compared with CAD 49.7 million, or CAD 1.07 per share, basic and diluted, in the first nine months of 2008. The company reported loss before depreciation, amortization, interest expense, income taxes, non-controlling interest and discontinued operations of CAD 633,000 and loss before income taxes, non-controlling interest and discontinued operations of CAD 8.523 million on revenue of CAD 33.067 million compared to income before depreciation, amortization, interest expense, income taxes, non-controlling interest and discontinued operations of CAD 10.129 million and income before income taxes, non-controlling interest and discontinued operations of CAD 1.103 million on revenue of CAD 61.084 million for the same period of last year.

Counsel Corporation reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported loss before income taxes, non-controlling interest and discontinued operations of CAD 2,193,000, income from continuing operations of CAD 8,305,000 or CAD 0.16 diluted per share, net Income of CAD 8,326,000 or CAD 0.16 diluted per share on revenue of CAD 13,496,000 as compared to income before income taxes, non-controlling interest and discontinued operations of CAD 225,000, income from continuing operations of CAD 331,000 or CAD 0.01 diluted per share, net Income of CAD 302,000 or CAD 0.01 diluted per share on revenue of CAD 19,949,000 for the same period last year. For six months, the company reported loss before income taxes, non-controlling interest and discontinued operations of CAD 6,194,000, income from continuing operations of CAD 4,329,000 or CAD 0.10 diluted per share, net Income of CAD 4,449,000 or CAD 0.10 diluted per share on revenue of CAD 22,317,000 as compared to income before income taxes, non-controlling interest and discontinued operations of CAD 1,816,000, income from continuing operations of CAD 1,743,000 or CAD 0.04 diluted per share, net Income of CAD 49,599,000 or CAD 1.06 diluted per share on revenue of CAD 40,244,000 for the same period last year.

Counsel Corporation reported unaudited consolidated operating results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported cash used in operating activities was CAD 8,340,000 compared to CAD 4,058,000 a year ago. Purchases of property, plant and equipment were CAD 15,000 compared to CAD 100,000 a year ago. Total capital expenditures were CAD 886,000 against CAD 859,000 a year ago. For the six months, the company reported cash used in operating activities was CAD 11,315,000 compared to CAD 5,910,000 a year ago. Purchases of property, plant and equipment were CAD 77,000 compared to CAD 184,000 a year ago. Total capital expenditures were CAD 886,000. Total capital expenditures were CAD 1,196,000 against CAD 25,670,000 a year ago.