Octavian Advisors, LP, the largest shareholder of EnerCare Inc. (TSX: ECI), which owns approximately 13% of EnerCare's outstanding common shares and has been a shareholder for more than two years, today issued the following statement commenting on the results of EnerCare's annual and special meeting of shareholders:

"We are grateful to and encouraged by the significant number of our fellow shareholders - including at least three of the company's top five shareholders and a large number of retail investors - who voted for Octavian's director nominees at today's meeting and sent a strong message to Chairman James Pantelidis and the current Board. Serious concerns about the Board's oversight - including its exorbitant director fees and its refusal to engage constructively to appoint minority shareholder representation on the Board - were clearly articulated at the meeting by other shareholders. Despite the fact that EnerCare's Board appears to have been able to escape this time by a narrow margin, close to half of the shareholders who attended the meeting voted against the current Board. Clearly a significant number of EnerCare shareholders are disturbed by the current state of affairs at the company and only in the most technical sense could today's meeting be deemed an endorsement of the current Board."

"The Board has repeatedly abused its power and its every move has been the antithesis of good corporate governance practices - including unconscionably using shareholder money to buy votes and flagrantly breaching a written agreement that would have allowed Octavian to review all proxies and related materials prior to the meeting. We call upon the current Board to disclose the amount of money that was wasted on trying to prevent the innocuous proposition of minority shareholder representation in the Boardroom."

"Octavian remains seriously concerned that EnerCare will continue to be hostage to a Board that is only concerned with protecting its own interests. As a long-term investor in the company, we are committed to getting EnerCare's governance back on the right path and working to position the company for future value creation. We will work with our fellow shareholders and will continue to take all actions necessary to protect their interests and to hold the Board accountable for its actions."

About Octavian Advisors, LP

Octavian Advisors, LP is a global investment firm with offices in New York and London. The firm focuses on special situations and distressed investments in international markets, and has successfully invested in over 40 countries on six continents. Octavian currently manages approximately $1 billion for leading endowments, foundations, pension funds, family offices and institutions.

Cautionary Statement Regarding Forward-Looking Information

Certain information in this press release may constitute "forward-looking information", as such term is defined in applicable Canadian securities legislation, about the objectives, views and actions of Octavian as they relate to EnerCare, Octavian's investment in EnerCare and EnerCare's current board of directors, the potential impact of certain initiatives on EnerCare, the continued management of EnerCare by the current board, and other matters. All statements other than statements of historical fact may be forward-looking information. Forward-looking information is often, but not always, identified by words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "would", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. Material factors or assumptions that were applied in providing forward-looking information, include, but are not limited to, EnerCare's future growth potential, its results of operations, future cash flows, the future performance and business prospects and opportunities of EnerCare, the ability of the Octavian to effect positive change at EnerCare, and the current general regulatory environment and economic conditions remaining unchanged.

Forward-looking information contained in this press release reflect current expectations of Octavian regarding future events and operating performance of EnerCare, and speak only as of the date of this press release. Such forward-looking information is based on currently available competitive, financial and economic data and operating plans and are subject to known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of EnerCare, or general industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Recent events in global financial and credit markets have resulted in abnormally high market volatility and a level of uncertainty not seen in decades. Such uncertainty may continue to impact the global, North American and Canadian economies in unpredictable ways and may impact the results of EnerCare in a manner which is currently impossible to ascertain. Many other factors could also cause EnerCare's actual results, performance or achievements to vary from those expressed or inferred herein, including without limitation, the possibility that the anticipated benefits from the Octavian's objectives and actions cannot be fully realized or may take longer to realize than expected; the impact of legislative, regulatory, competitive and technological changes; the state of the economy; credit and equity markets; availability of credit and other financing; and the financial markets in general. Many of these risks and uncertainties could affect EnerCare's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking information provided by Octavian. The impact of any one factor on a particular piece of forward-looking information is not determinable with certainty as such factors are interdependent upon other factors, and Octavian's course of action would depend upon its assessment of the future considering all information then available.

Should any factor affect EnerCare in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking information reflected in this press release is qualified by these cautionary statements. There can be no assurance that the results or developments anticipated by Octavian will be realized or, even if substantially realized, that they will have the expected consequences. Forward-looking information is provided and forward-looking statements are made as of the date of this press release and except as may be required by applicable law, Octavian disclaims any intention and assumes no obligation to publicly update or revise such forward-looking information or forward-looking statements whether as a result of new information, future events or otherwise.

Investor:
Mackenzie Partners, Inc.
Larry Dennedy, 212-929-5239
ldennedy@mackenziepartners.com
Mackenzie Partners, Inc.
Charlie Koons, 212-929-5708
ckoons@mackenziepartners.com
or
Media:
Sard Verbinnen & Co
Jonathan Doorley, 212-687-8080
jdoorley@sardverb.com