WCSB 2008-II FUND ANNOUNCES RESULTS OF SPECIAL MEETING

October 24, 2011

VANCOUVER, BRITISH COLUMBIA: WCSB Holdings Corp. is pleased to announce the results of the special meeting of the limited partners of WCSB Oil & Gas Royalty Income 2008-II Limited Partnership (the “Partnership”) held on Thursday, October 20, 2011. The meeting was held to consider and, if thought appropriate, approve a transaction involving a restructuring of the Partnership and its assets and the sale, on a tax deferred basis, of its portfolio of oil and natural gas gross over-riding royalties to Caledonian Royalty Corporation (“CRC”) in exchange for royalty units of CRC, a private Alberta-based corporation (the “Transaction”).

The Transaction, and all necessary actions to give effect to the Transaction were approved by 100% of the units of the Partnership represented at the meeting.

About WCSB Royalty Investment Programs
WCSB Royalty Investment Programs are jointly owned and operated by CADO Bancorp Ltd. and Brickburn Asset Management Inc. CADO Bancorp Ltd. specializes in structuring, distributing and managing high quality tax-assisted investments. WCSB Royalty Income Investments are energy focused funds with a mandate to provide Canadian investors with income, capital appreciation, liquidity and up to a 100% tax deduction through the ownership of royalties on producing oil & natural gas companies.

FOR FURTHER INFORMATION

This press release contains forward-looking statements that involve known and unknown risks, uncertainties, assumptions and other factors, some of which are beyond the control of WCSB Holdings Corp., which may cause actual results or events to differ materially from those anticipated in such forward-looking statements. WCSB Holdings Corp. believes that the expectations reflected in those forward-looking statements are reasonable at the time made by no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of such information, as the case may be, and may be superseded by subsequent events. Except as required by law, WCSB Holdings Corp. does not intend, and does not assume any obligation, to update these forward-looking statements