VANCOUVER, BRITISH COLUMBIA -- Reservoir Capital Corp. (TSX VENTURE:REO) ("Reservoir" or the "Company") is pleased to announce that it has formed a new subsidiary Renewable Energy Ventures Italia S.r.l. ("REV Italia") with offices in Rome. REV Italia will assist the Company with negotiations with the Italian government on bilateral agreements, importing energy into the Italian market and support the development of the Company's hydroelectric projects in Serbia and the region. REV Italia will also seek to develop its own renewable energy projects in Italy and engage in energy trading and sales.

The Board of the new company comprises Mr. Antonio Mazza, Mr. Donatello Bertozzi and Ms. Miljana Vidovic, (President and CEO of Reservoir).

Mr. Mazza is an engineer and power industry veteran, currently engaged in developing and operating various renewable energy and biofuels projects in Italy, through his family business Part.En.One S.r.l. Previously Mr. Mazza was Chief Executive Officer of Rome-based utility ACEA Electrabel Energia S.p.A.

Mr. Bertozzi is Head of General Secretariat and Assistant to the Secretary General of the Confederazione Italiana Sindicati Lavoratori (CISL), Italy's second largest trade workers union with over 4.4 million members, and a member of the Supervisory Board and a Trustee of the Instituto Nazionale Previdenza Sociale (INPS) which provides pensions and other welfare benefits to 35 million people a year.

Miles Thompson, Chairman of the Company, commented: "We are very happy to be taking this step to engage more directly with the Italian market in support of our hydroelectric development projects in Serbia and Bosnia, but also to be looking at new business opportunities in the country. We are very lucky to be able to count on the support of Antonio and Donatello and look forward to consolidating and further building our renewable energy business with them."

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