Roundtable Capital Partners Inc.

Approval

Headnote

Clause 213(3)(b) of the Loan and Trust Corporations Act -- application by manager, with no prior track record acting as trustee, for approval to act as trustee of pooled funds to be established and managed by the applicant and offered pursuant to a prospectus exemption.

Statutes Cited:

Loan and Trust Corporations Act, R.S.O. 1990, c. L.25, as am., s. 213(3)(b).

April 21, 2006

Fasken Martineau DuMoulin LLP
66 Wellington Street West
Suite 4200, Toronto Dominion Bank Tower
Box 20, Toronto-Dominion Centre
Toronto, ON
M5K 1N6

Attention: Allan G. Beach

Dear Sirs/Medames:

RE:
Roundtable Capital Partners Inc. (the "Applicant")
Application pursuant to clause 213(3)(b) of the Loan and Trust CorporationsAct (Ontario) for approval to act as trustee
Application No. 268/06

Further to your application dated April 6, 2006 (the "Application") filed on behalf of the Applicant, and based on the facts set out in the Application, and the representation by the Applicant that the assets of Roundtable Conservative Equity Fund and Roundtable Opportunities Fund and such other funds as the Applicant may establish from time to time will be held in the custody of a bank listed in Schedule I, II, or III of the Bank Act (Canada) or an affiliate of such bank, the Ontario Securities Commission (the "Commission") makes the following order. Pursuant to the authority conferred on the Commission in clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that the Applicant act as trustee of Roundtable Conservative Equity Fund and Roundtable Opportunities Fund and such other funds which may be established and managed by the Applicant from time to time, the securities of which will be offered pursuant to a prospectus exemption.

Yours truly,

"Carol S. Perry"

"Suresh Thakrar"