TORONTO, Oct. 27, 2005 (Canada NewsWire via COMTEX) --
Academy Capital Corp. ("Academy") (TSX Venture: ACY) is pleased to announce that its wholly owned subsidiary Baymount Corporation ("Baymount" or "the company") continues to make steady progress on the development of the new Quinte Exhibition and Raceway. With the sewer and water servicing now completed, the company has begun removing trees and clearing the development lands. The company has submitted a preliminary site plan to the city and continues to move the development forward in preparation for the planned construction of the new facility.

Concurrently, Baymount, its subsidiary Belleville Racetrack Development Corporation ("BRDC"), and its Directors and Officers have been working to complete their respective registrations with the Alcohol and Gaming Commission of Ontario and their preliminary license approvals with the Ontario Racing Commission. The company does not anticipate any material delays to the completion of the registration and licensing processes.

Graham Simmonds, President of Baymount, stated, "We continue to make progress on the development of the new Quinte Raceway in anticipation of the required regulatory approvals. We remain confident we can maintain our construction schedule and this is demonstrated by our continued preparation of the site and of the engineering and planning components of the project." He added, "The project is a significant development for the City of Belleville and we are enthused by the support we have received from all stakeholders. This development will provide a significant economic stimulant to the area and particularly to the agricultural industries."

Baymount is also continuing to make strong progress on its other major projects, including Wheat City Horse Park, Instant Racing and the FasTrack product. Baymount recently responded to a request for proposals (RFP) issued by the Quebec government for the privatization of the province's four racetracks. Baymount submitted its bid through its Quebec subsidiary, Renaissance Hippique du Quebec, Inc.

About Baymount and Academy

Baymount, a wholly owned subsidiary of Academy, has made strategic investments within the horseracing industry. Baymount has an agreement with the Belleville Agricultural Society to build a facility to relocate the Quinte Exhibition and Raceway in Belleville, Ontario.

Baymount is also pursuing a standardbred racing license for the development of a new racetrack and gaming facility in Brandon, Manitoba. The company recently amended its agreement to purchase 530 acres of land located in the R.M. of Elton. The amendment calls for an extension of the purchasers' waiver of conditions to February 15th, 2006, with closing now occurring no later than March 15th, 2006.

Baymount has the exclusive license to market Instant Racing throughout Canada. Instant Racing is a patented electronic horseracing and pari-mutuel wagering system that emulates the very successful slot machine experience. The product has been successful in generating significant pari-mutuel revenue to racetracks in the United States.

Baymount owns the FasTrack information product, a proprietary horseracing information product with an easy-to-use design that can be used to introduce new fans to the sport of horseracing. FasTrack is now deployed in a pilot test at Grand River Raceway in Elora, Ontario.

SOURCE: Academy Capital Corp.

SOURCE: Baymount Corporation

Graham Simmonds, President and Chief Executive Officer, Academy Capital Corp. and Baymount Corporation, (416) 979-2881 x223, (416) 979-6708 (fax), graham@baymountcorp.com

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