phoneguide.

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com) and
Halyard Capital Fund (www.

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About EastLink

A truly Maritime company, EastLink is the fifth largest cable
company in Canada and was the first to offer customers local telephone
service over a state-of-the-art digital network.

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About ypOne Publishing, LP

ypOne Publishing, LP (www.com), a member of BMO
Financial Group., Fieldstone Investment
Corporation (Nasdaq: FICC) announced today that Mr. Michael Sonnenfeld, its
President and Chief Executive Officer, will be speaking on a panel on the
subprime mortgage market at the Friedman Billings Ramsey 2006 Financial
Services Industry Conference at 10 a.m.

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"
Other unique features of the new PhoneGuide will include
easy-to-search government pages, coupons, postal codes, larger print,
golf and restaurant guides, and electronic yellow pages, which can be
found at www.ca) has been published in
Southwestern Ontario since 1997.S. (ET) on February 3, 2006 at the
Fairmont Scottsdale Princess, Scottsdale, Arizona.

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ypOne Publishing, LP continues to actively seek
expansion opportunities in both the U.

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To hear the replay of the panel
discussion, you may dial 800-642-1687 and enter 5014112 as the conference
identification number. Fieldstone is
headquartered in Columbia , Maryland.

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Business Editors/Arts/Entertainment Editors/Community Editors

HALIFAX, NS- ---EastLink announced
today it has partnered with ypOne Canada Ltd to produce an EastLink
branded telephone directory in the Halifax Regional Municipality
titled EastLink PhoneGuide.frontenac.FieldstoneInvestment .

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A replay of
the panel discussion will be available shortly after the conclusion of the
panel discussion until February 13, 2006.

About Fieldstone Investment Corporation
Fieldstone Investment Corporation, a real estate investment trust for
federal income tax purposes, owns and manages a portfolio of non-conforming
mortgage loans originated primarily by its mortgage origination subsidiary,
Fieldstone Mortgage Company.

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"We are pleased to be working with ypOne on the new directory who
have a proven track record in producing a high-quality, easy-to-use
directory," said Dan McKeen , Co-CEO, EastLink.
currently publishes 16 directory titles, and following this
announcement, that number will rise to 22.

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EastLink provides a
range of communication, entertainment + advertising services to
business and residential customers across the Maritimes.

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"Halifax is an especially exciting region for us
and is just the beginning of our expansion into Atlantic Canada.

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phoneguide. currently
distributes 994,000 directories with distribution expected to increase
to 1,800,000. There are currently 109 Canadian employees. Those wishing to hear the
panel discussion live may listen by dialing 800-452 -1324 and entering 5014112
as the conference identification number.

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In addition to management, ypOne Publishing, LP enjoys
equity sponsorship from Frontenac Company (www.

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Eastlink and ypOne Canada Ltd Partner to Publish Eastlink Phoneguide

yponepublishing.8 million directories in the United States
and Canada.

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YpOne Canada Ltd.

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"The EastLink
PhoneGuide will offer customers several features and benefits
including full colour city and area maps and community pages that
contain points of interest , community events, easy-to-find school
pages, and stadium seating charts.ca
"Our partnership with EastLink enables us to combine the strength
of our product with the recognition of the EastLink brand and strong
community presence," said Gary Campbell, Director of Canadian
operations for ypOne .
To find out more about Fieldstone, please visit
http://www.

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com) is a rapidly
growing mid -size North American publisher currently publishing 53
titles and distributing 3.

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It is distributed by ypOne Canada
Ltd. The first London area PhoneGuide took on traditional phone
directories in late 1997 by offering unique features such as large
print, postal codes beside listings, community information, maps, and
talking pages.

com.

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"
The EastLink PhoneGuide will be distributed to every business and
residence in the Halifax Regional Municipality in early 2006. and Canada.

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, a London-based company formerly known as Southwestern
Publishing. The PhoneGuide acquired Access Pages in 2004.halyardcapital.

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About the PhoneGuide/ Access Pages

The PhoneGuide (www. COLUMBIA, Md. It is recommended that you dial in at
least 10 minutes prior to the beginning of the panel discussion.

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About ypOne Canada Ltd

Doing business as Phone Guide/Access Pages , ypOne Canada Ltd.

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Fieldstone Investment Corporation Announces President to Speak on Panel on Subprime Mortgage Market

Founded in 1995, Fieldstone Mortgage Company is a
nationwide residential mortgage banking company that originates non-conforming
and conforming residential mortgage loans through over 4,700 independent
mortgage brokers serviced by regional wholesale operations centers and a
network of retail branch offices located throughout the country.

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---

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