OPTI Canada Inc. says that its Board of Directors has retained Lazard Freres & Co. LLC (Lazard) to assist in its ongoing review of strategic alternatives. Strategic alternatives may include capital market opportunities, asset divestitures, and/or a corporate sale, merger or other business combinations. Lazard will supplement the strategic review by providing advice on capital structure alternatives to address the Company's overall leverage position.

Scotia Waterous Inc. and TD Securities Inc, engaged as financial advisors to OPTI in November of 2009, will work with Lazard in a coordinated manner to review the full range of strategic options open to the Company. OPTI's Board of Directors remains committed to pursuing all available strategic options in the best interests of the Company.

Tags: OPTI Canada Inc.