Overlord Financial Announces the Launch of Catapult Limited Partnership I

Calgary, December 6, 2004 - Overlord Financial Inc. (TSXV: OFI) is pleased to announce the launch of the Catapult Energy Limited Partnership I ("Catapult Energy"). Catapult Energy brings the exclusive junior oil and gas investments typically available to only the very wealthy to all levels of investors.

Catapult Energy will apply its opportunistic value methodology to invest shares of emerging, rapidly growing oil and gas companies to create significant capital appreciation over the 3 year life of the partnership. Catapult Energy is unique amongst its peers in that it is the only one with a prospectus level disclosure and a minimum $2500 investment. It is also the only investment manager to have a dedicated, in-house, multi-disciplinary oil and gas team to conduct the technical and operational due diligence on investment candidates.

Catapult Energy has engaged Research Capital Corporation to be the lead agent for the prospectus issue of up to 2.5 million partnership units at $10 per unit. Catapult Energy has also granted Research Capital Corporation the right to purchase up to an additional 500,000 units for total maximum gross proceeds of $30 million.

The General Partner, Catapult Energy 2004 Inc. will be responsible for the day-to-day operations and investment decisions of the partnership. The principals of Catapult Energy 2004 Inc. are Ms. Joanne Hruska, CFA and Ms. Melanie van den Berge, CFA. Catapult Energy 2004 Inc. is a wholly-owned subsidiary of Overlord Financial Inc. Marcel Tremblay will be overseeing this team and providing his 40+ years of oil and gas investing and operating experience to contribute to the success of Catapult Energy.

Ms. Hruska is a Chartered Financial analyst who has spent the last ten years successfully investing in the Canadian junior oil and gas sector. Ms. Hruska brings strong analytical skills from her position as an analyst at a large independent brokerage firm where she covered both the junior oil and gas sector and income trusts. She also spent several years as an Investment Advisor working for both a major bank-owned firm and a local oil and gas boutique firm. Ms. Hruska graduated from the University of Calgary with a Bachelor of Commerce degree in 1994 and obtained her Chartered Financial Analyst Designation in 1999.

Ms. van den Berge is a Chartered Financial Analyst with ten years of diverse financial and investment experience. She brings the skills necessary to evaluate and negotiate private transactions from due diligence through to closing. Ms. van den Berge also spent several years working for major bank-owned investment houses where she advanced to progressively senior roles concluding as an Investment Advisor for CIBC Wood Gundy. Much of this time was spent focused on investing in the junior resource market. Ms. van den Berge graduated from the University of Calgary with a Bachelor of Arts degree (Economics) in 1995 and completed the Chartered Financial Analyst program in 2001.

Overlord Financial Inc. is a Canadian specialty fund manager focused on providing all classes of investors in Canada and throughout the world with a new generation of investment vehicles offering superior rates of return, preservation of capital, liquidity and capital appreciation.

For further information concerning this press release, please contact:

Marcel Tremblay
Chairman, President and CEO
Overlord Financial Inc.
(403) 770-4805

Larry Titley
Chief Financial Officer
Overlord Financial Inc.
(403) 770-4808

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