#3507 – 1033 Marinaside Crescent

ESCUDO CAPITAL CORPORATION

#3507 – 1033 Marinaside Crescent Vancouver, British Columbia V6Z 3A3

FOR IMMEDIATE RELEASE TSX-V: EDO.P

ESCUDO CAPITAL CORPORATION TERMINATES LETTER AGREEMENT WITH PACIFIC POLAR ENERGY GROUP

Vancouver, British Columbia – March 5, 2012 – Escudo Capital Corporation (“Escudo”) announces that it has terminated the Letter Agreement with Pacific Polar Energy Group Corp. as described in its news release of December 7, 2011.

Escudo is a “capital pool company” under the policies of the TSX Venture Exchange and will continue the process of identifying and evaluating businesses and assets with a view to completing a Qualifying Transaction in accordance with the policies of the TSX Venture Exchange.

For additional information, please contact:

John Boddie, Chief Executive Officer, Secretary and Director Telephone: (604) 893-8784

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Escudo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Escudo’s management on the date the statements are made. Escudo undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.