Karel Capital Corporation Announces a Re-Filing of Its Unaudited Financial Statements for the Quarter Ended December 31, 2009

Karel Capital Corporation ("Karel" or the "Company") (TSX VENTURE:KRL.P), a
capital pool company announces that it has re-filed its Unaudited Financial
Statements and accompanying Management Discussion and Analysis for the quarter
ended December 31, 2009 in connection with accounting discrepancies discovered
by the Company. Upon discovery of such discrepancies, the Company took steps to
quantify the extent of any incorrect financial reporting, to discover the cause
thereof, and to correct any problems and prevent future misstatements.


In addition to disclosure adjustments, the Company determined that there was an
error in the accrued liabilities and deposits. The correction of these errors
resulted in a decrease of operating expenses and net loss by $6,599, an increase
in cash of $6,195, a reduction of deposits by $352 and a reduction of accrued
liabilities by $45.


The previously filed interim financial statements for the quarter ended December
31, 2009 should not be relied upon.


About Karel Capital Corporation

Karel Capital Corporation is a capital pool company as defined by the Policy.
The principal business of the Company is to identify and evaluate opportunities
for the acquisition of an interest in assets of businesses and, once identified
and evaluated, to negotiate an acquisition or participation subject to receipt
of shareholder approval and acceptance for filing by the Exchange.


KAREL CAPITAL CORPORATION

Cameron Schuler

Karel Capital Corp. (TSXV:KRL.P)
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