SVI Storagevault Canada Inc

STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) is pleased to
announce that it has entered into a credit agreement (the "Credit Agreement")
with Bank of Montreal ("BMO"), pursuant to which BMO has agreed to make
available to StorageVault credit facilities in the amount of up to $24 million.
Such credit facilities are comprised of: (i) a $20 million revolving credit
facility for re-financing of existing term debt and for future acquisition of
self storage facilities; (ii) a $2 million revolving credit facility for
expansion of PUPS portable storage facilities; (iii) a $1 million revolving
credit facility for the purchase of equipment associated with the operation of
PUPS; and (iv) a treasury risk management facility subject to a limit of $1
million.


Financing under the terms of the Credit Agreement is subject to a number of
customary and usual conditions for this type of transaction, including but not
limited to: (i) satisfactory completion of loan, security and account
documentation, and lender due diligence; (ii) satisfactory compliance by
StorageVault with financial and non-financial covenants normally applicable to
transactions of this nature; and (iii) compliance by StorageVault with all
material laws, including environmental regulations. There is no assurance that
StorageVault will be able to satisfy all terms and conditions of the Credit
Agreement that are required in order to be eligible to drawdown funds under the
credit facilities. Furthermore, even if StorageVault does satisfy such terms and
conditions, there is no assurance that StorageVault will take advantage of the
credit facilities under the Credit Agreement and drawdown any funds.


About StorageVault Canada Inc.

StorageVault currently owns and operates Trans Can Mini-Stor in Regina, Kenaston
Self Storage in Winnipeg, B&B Self Storage in Cambridge, Parksville Mini Storage
in the Regional District of Nanaimo and Canadian PUPS in Saskatoon. Trans Can
Mini-Stor, Kenaston Self Storage, B&B Mini Storage and Parksville Mini Storage
are fixed unit storage facilities operating in conjunction with high margin
Canadian PUPS portable storage franchises at each location. StorageVault
operates Canadian PUPS in Saskatoon as a stand-alone portable storage franchise.
StorageVault also manages five self-storage facilities in southern Ontario and
intends to continue to grow its business through the acquisition of additional
self-storage properties, and organically as master franchisee through the
development of Canadian PUPS portable storage facilities in Canada.


Forward-Looking Information: This news release may contain certain
forward-looking information. All statements included herein, other than
statements of historical fact, is forward-looking information and such
information involves various risks and uncertainties. There can be no assurance
that such information will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such information. A
description of assumptions used to develop such forward-looking information and
a description of risk factors that may cause actual results to differ materially
from forward-looking information can be found in StorageVault's disclosure
documents on the SEDAR website at www.sedar.com.

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