SelectCore increases revenues, gross profits and earnings. Reports record first quarter financial results

For Immediate Release: May 29, 2008

TORONTO, ON: SelectCore Ltd., (TSX-V: SCG) announced today the company's financial results for the first quarter of 2008.

By way of brief overview, revenue was $15,356,487, an increase of 104% compared to $7,517,750 in Q1, 2007. Gross profit increased 258% over Q1, 2007. Earnings before interest, amortization and stock-based compensation was $67,048 compared to ($235,860) in Q1, 2007. Basic and diluted earnings per share was ($0.003) which takes into consideration $205,470 in amortization of capital assets and intangible assets from the recent acquisition of Canquest Communications.

The significant revenue and profit increases were due primarily to the migration of the Company’s prepaid wireless business to its new technology platform and the acquired business of Canquest Communications. The company also realized significant cost reductions from a restructuring plan that was implemented in Q4 of 2007.

The Company's unaudited interim consolidated financial statements and management discussion and analysis for the period ending March 31, 2008 are available on SEDAR at www.sedar.com.

Keith McKenzie, CEO of SelectCore stated "We are pleased to report our very first quarter of positive financial results. The numbers clearly illustrate that the Company is moving in the right direction and we expect to continue the trend of increased profitability.”

Ryan Deslippe, SelectCore’s President, further commented “Our new technology platform continues to lay the ground work for long-term, sustainable growth which will result in new revenue streams, increased margins and profits - all leading to enhanced shareholder value.”

About SelectCore:
SelectCore (TSX-V: SCG) is in the business of providing prepaid telecommunication solutions to the credit-challenged consumer market across Canada. The offerings, which include wireless, home telephone, long distance and broadband internet are marketed through private-label partnerships as well as company’s own nation-wide distribution channel of independent and corporate chain retailers. SelectCore’s technology division maintains its own telecom network infrastructure servicing many of Canada’s largest incumbent phone companies. Profit 100 ranked SelectCore one of Canada’s fastest-growing companies in 2006 and again in 2007.


This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information contact SelectCore Media & Investor Relations: Website: www.selectcore.com / Email: investor@selectcore.com Phone: 1.800.584.8819 / Fax: 1.866.730.2835

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