Haynes Capital Corp. Opens Office in Tanzania, East Africa

TORONTO--(BUSINESS WIRE)--Feb. 27, 2006--Haynes Capital Corp. announced today the opening up of its Tanzania office. Haynes' decision to open an office in Africa comes as Tanzania is experiencing a boom in interest from foreign investors eager to develop the continent's oil and mineral reserves. The Haynes Tanzania office will cover East Africa and will identify investment opportunities, assist local companies to raise funding, provide local contacts for clients and identify acquisition targets for listed companies, initially in the mining and minerals sector.

"Having more presence on the ground by recruiting local representatives not only fits into our own emerging market investment strategy, but will also help our clients manage risk when developing projects," commented Richard Gallo, Managing Director, Haynes Capital Corp.

“Having more presence on the ground by recruiting local representatives not only fits into our own emerging market investment strategy, but will also help our clients manage risk when developing projects”

One of the most stable political climates in the region, Tanzania is emerging as a top gold producer in Africa, and is now the continent's third-largest source of gold after South Africa and Ghana. Along with opening an office, Haynes' plans include the development of an East African Online Business Portal designed to promote the investment opportunities and ongoing developments that exist in resource-rich East Africa.

About Tanzania gold mining:

Modern Mining was introduced by Samax Resources Ltd with the opening of the Golden Pride deposit in 1998. Since then Anglo Gold Ashanti (NYSE:AU), Barrick Gold (NYSE:ABX) and Placer Dome (NYSE:PDG) have arrived.

Recent developments in Tanzania include the December 21st peaceful handover of power from ex-president Benjamin Mkapa to a newly-elected President, Jakaya Kikwete. Mr. Mkapa's policies stimulated development in the Tanzanian mineral resource sector. In five years, the value of the country's gold production increased more than 20-fold to $650 million a year. His successor, President Jakaya Kikwete, himself a former mining minister, has pledged to continue his policies.

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Haynes Capital Corp. assists clients in accessing capital and investment opportunities. Services include corporate finance strategies, investor awareness programs, strategic business development and financial market intelligence. More information can be found at www.haynescapitalcorp.com