Qwest Energy 2008 Flow-Through $50 Million Prospectus Filed

On December 21, 2007, Qwest Investment Management Corp. filed a preliminary prospectus for the initial public offering of units of the Qwest Energy 2008 Flow-Through Limited Partnership.

Available funds from the $30,000,000 Partnership will be used to purchase flow-through shares of resource issuers. Investors in the Partnership are expected to receive tax deductions of 100% of the amount invested for the 2008 tax year.

The Partnership has been organized to provide investors with a tax-assisted investment in a diversified portfolio of flow-through shares of resource issuers whose shares are publicly traded and, to a lesser extent, flow-through shares of private resource issuers, with a view to achieving capital appreciation for investors. The principal business of the resource issuers will be: (i) oil and gas exploration, development and production; (ii) mineral exploration, development and production; or (iii) certain energy production that may incur certain start-up phase costs of renewable energy and energy efficient projects.

Dundee Securities Corporation, CIBC World Markets, RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Berkshire Securities Inc., Canaccord Capital Corporation, GMP Securities L.P., HSBC Securities (Canada) Inc., Raymond James Ltd., and Wellington West Capital Inc.

A preliminary prospectus relating to the Partnership has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. This news release shall not constitute an offer to sell or a solicitation to purchase, nor shall there be any sale or any acceptance of an offer to purchase units of the Partnership in any province or territory of Canada prior to the receipt for the final prospectus or other authorization is obtained from a securities commission or similar authority.