WCM.B Wilmington Capital Management

Wilmington Capital Management Inc. (TSX: WCM)(TSX: WCM.A)(TSX: WCM.B) today announced a net loss of $135,000 compared to $249,000 in 2008. Net loss per Class A and Class B share for the year ended December 31, 2009 was $0.02, compared to $0.03 per share for the year ended December 31, 2008.

Net income for the three months ended December 31, 2009 was $86,000 or $0.01 per Class A and Class B share, compared with net income of $45,000 or $0.01 per share for the same period in 2008.

Wilmington holds an 8% fully diluted interest in Parkbridge Lifestyle Communities Inc. (PRK.TO), an owner operator of manufactured home and recreational communities. During the third quarter, Parkbridge completed an equity offering of 5,000,000 common shares at a price of $4 per common share. The company acquired 250,000 common shares of this equity offering. Wilmington also owns land leased to commercial property owners which is located at 370 Third Street in San Francisco, California. Wilmington is considering alternatives to maximize the value for shareholders of its real estate investment, which could include the sale or restructuring of this holding.

The company's objective is to generate appreciation in value from its existing investments as opposed to current income. Accordingly, net income is expected to be minimal. In this regard, as at December 31, 2009, the fair value of the company's investment in Parkbridge of $28.1 million reflects unrealized capital gains of $11.1 million.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)                             Three months ended      Years ended
                                               December 31      December 31
$ thousands, except per share amounts        2009     2008     2009    2008
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Income
 Investment and other                      $   10   $   20  $   17  $   103
 Foreign exchange gain                         19       65       -       65
 Income producing property                    310      360   1,334    1,573
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                                              339      445   1,351    1,741
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Expenses
 Operating                                     22       21     165      139
 Foreign exchange loss                          -        -      23        -
 Interest                                     350      436   1,490    1,372
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                                              372      457   1,678    1,511
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Net (loss) income before income taxes         (33)     (12)   (327)     230
 Income tax recovery (expense)                119       57     192     (479)
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Net income (loss)                          $   86   $   45 $  (135) $  (249)
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Net income (loss) per Class A
 and Class B share                         $ 0.01   $ 0.01 $ (0.02) $ (0.03)
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CONSOLIDATED BALANCE SHEETS

As at December 31 ($ thousands)                          2009          2008
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Assets
 Cash and cash equivalents                          $   1,569     $   3,542
 Investment in Parkbridge Lifestyle Communities Inc.   28,109        13,344
 Income producing property                             19,013        22,088
 Other assets                                             143           414
 Future income taxes                                        -            78
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                                                    $  48,834     $  39,466
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Liabilities & Shareholders' Equity
 Accounts payable and other liabilities             $     700     $   1,269
 Future income taxes                                    1,933             -
 Secured debt                                          19,962        23,153
 Loan payable                                          10,501        10,694
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                                                       33,096        35,116
 Shareholders' equity                                  15,738         4,350
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                                                    $  48,834     $  39,466
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

                                   Three months ended           Years ended
(unaudited)                               December 31           December 31
$ thousands                          2009        2008       2009       2008
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Net income (loss)                 $    86    $     45    $  (135) $    (249)
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Other comprehensive income (loss)
 Foreign currency translation         (28)        (37)       (72)        44
 Available-for-sale securities      6,624     (11,961)    13,765    (18,576)
 Future income taxes on
  above items                        (997)      2,027     (2,170)     3,135
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                                    5,599      (9,971)    11,523    (15,397)
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Comprehensive income (loss)       $ 5,685    $ (9,926)  $ 11,388  $ (15,646)
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Executive Officers of the Company will be available at 416-867-9370 to answer any questions on the company's financial results.

This news release contains forward-looking statements concerning the company's business and operations. The company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the company's actual results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Information Form for a description of the major risk factors.

Contacts: Wilmington Capital Management Inc. Joseph F. Killi President and Chief Executive Officer 416-867-9370