Ceres Capital Corp. Terminates Letter of Intent to Acquire Mavix Inc.

CALGARY, ALBERTA--(Marketwire - Feb. 12, 2008) - CERES CAPITAL CORP. ("Ceres") (TSX VENTURE:SRS.P), a capital pool company, announces the termination of the letter of intent dated June 27, 2007 (the "Agreement") pursuant to which Ceres had conditionally agreed to acquire all of the issued and outstanding shares of Mavix Inc. ("Mavix") as its qualifying transaction. The Agreement expired without a definitive acquisition agreement having been signed and without certain conditions having been met. Accordingly, Ceres has decided not to renew or extend the Agreement.

Ceres is of the opinion that it has adequate funds to pursue other Qualifying Transaction opportunities. As a result, Ceres will resume its process of identifying and evaluating businesses and assets with a view to completing a potential Qualifying Transaction.

Ceres remains impressed with the Mavix technology and wishes to thank the principals of Mavix for their efforts in attempting to complete a transaction.

It is expected that trading will resume in the common shares of Ceres on the TSX Venture Exchange on February 14, 2008.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.