Strategem Settles Litigation with Altek

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NEWS RELEASE FOR:
STRATEGEM CAPITAL CORPORATION.

CONTACT:
Ken Morgan
1-604-692-0073
Email: info@strategemcapital.com or visit
www.strategemcapital.com

VANCOUVER, BRITISH COLUMBIA – June 24, 2002 – Strategem Capital Corporation (the “Company” or “Strategem”) (CDNX: SCX) announced today that the litigation between Altek Power Corporation and Altek Independent Power Corp. V. Strategem Capital Corporation and Kenneth W. Morgan has been settled, subject to certain conditions being met. The Plaintiffs, Altek Power Corporation and Altek Independent Power Corp., have agreed to withdraw all allegations against Kenneth W. Morgan.

Strategem has also agreed to purchase 1,680,000 common shares of Altek Power Corporation and 500,000 share purchase warrants exercisable at $0.20 per share, for $336,000. The purchase is subject to completion of the settlement and is subject to TSX approval.

About Strategem Capital

Strategem Capital Corporation is a publicly-traded merchant bank focused on the development of emerging companies with growth potential. The Company invests in
debt and/or equity positions in these companies.

This release and prior releases are available on the Company’s Internet web site located at www.strategemcapital.com.

BY ORDER OF THE BOARD OF DIRECTORS

“Kenneth W. Morgan”
Kenneth W. Morgan, CA, CPA
President, CEO and Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.