Eurogas Notes New Board Director Appointment, Officer Changes

Eurogas Corp.

Eurogas has announced the appointment of Michael R. Smith, BA, LL.B, to the board of directors of the Corporation.

Smith obtained his law degree from Osgoode Hall Law School in 1967 and is a founding member of Smith & Zoldhelyi, a legal firm which specializes in franchising, leasing and corporate work. Smith has been a member of the board of several large public companies. Smith has also been legal counsel with the Ontario Securities Commission.

"Mr. Smith brings a wealth of business and legal experience and we are very pleased to have him join the Board of Eurogas." said Jaffar Khan, President and Chief Executive Officer.

The Board is also pleased to announce the appointment of Joanne Ferstman as Executive Vice President and Chief Financial Officer replacing Andrew Constantinidis. Ferstman is currently Executive Vice President and Chief Financial Officer of Dundee Corporation and DundeeWealth Inc. The Board thanks Constantinidis for his contributions and has arranged for him to remain as a consultant to the Corporation for a period of time.

The Board has accepted the resignation of Bruce Sherley, Executive Vice President and Chief Operating Officer of the Corporation. Sherley and his team will become full-time employees of Dundee Resources Limited, a wholly-owned subsidiary of Dundee Corporation and will assist Dundee in their resource merchant banking activities.