Shareholders of Newport Inc. Approve Change of Name to Tuckamore Capital

TORONTO, ONTARIO--(Marketwire - June 29, 2011) - Newport Inc. (TSX:NP) is pleased to announce that its shareholders have approved a name change to the company at its Annual Meeting of Shareholders held on June 29, 2011 in Toronto, Canada. The company will be named Tuckamore Capital Management Inc. to be marketed under the name Tuckamore Capital.

Accompanying the name change to Tuckamore Capital the new trading symbol is anticipated to be (TSX:TX). The company's shares will continue to trade on the Toronto Stock Exchange and all other attributes of the company remain unchanged.

"Over the past 24 months, our new team has faced its fair share of challenges and we've faced them head on", says Dean Macdonald, Chief Executive Officer, Tuckamore Capital. "We have worked hard to restructure our balance sheet, moved to a more focused investment strategy and divested companies not fitting our core competencies and growth expectations. We are now in a position to restore trust and build shareholder value and our team and shareholders deserve a name that truly reflects who we are and where we are going."

The Tuckamore tree is a remarkable part of Canada's natural landscape and its attributes were the inspiration for the name change. It grows and flourishes despite harsh conditions and unforeseen obstacles that try to stand in its way.

"Like the Tuckamore tree, we have faced the obstacles and persevered. We are strong, resilient and adaptable," added MacDonald. "Now our name matches our people and our future."

For more information on Tuckamore Capital visit www.tuckamore.ca.

About Tuckamore Capital

Tuckamore Capital (Newport Inc.) is a publicly traded diversified fund that invests in successful Canadian private businesses. We have invested over $700 Million in successful private businesses since our inception in 2004. As of June 29, 2011 there were 71,631,431 total shares outstanding.