Attention Business Editors:

Nominees of Jaguar appointed to Board of Directors of Blue Note

    TORONTO, Nov. 21 /CNW/ - Jaguar Financial Corporation (TSX: JFC)
("Jaguar") today announced that Messrs. Vic Alboini and Richard Pinkerton,
nominees of Jaguar, and Mr. Jean Mayer were appointed to the Board of
Directors of Blue Note Mining Inc. ("Blue Note") in replacement of Messrs.
Peter D. Watson, Gordon Ulrich, Peter G.M. Cox and Sir Nicholas Bonsor. Mr.
Alboini has been appointed as Chairman of the Board of Directors. Mr. Michael
Judson, Blue Note's President and Chief Executive Officer, remains a Director
of Blue Note.
    As a result of these changes to Blue Note's Board of Directors, Jaguar
has revoked its previously announced requisition for a special meeting of
shareholders of Blue Note.

    About Jaguar Financial Corporation

    Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors.

    The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may contain
certain forward looking statements which involve known and unknown risks,
delays, and uncertainties not under Jaguar's control which may cause actual
results, performances or achievements of Jaguar to be materially different
from those implied by such forward looking statements.