News Release

Vancouver - The Executive Directorof the British Columbia Securities Commission has issued a notice of hearing alleging that Richard Norman Jeffs, Robert Leigh Jeffs and Francis Jason Dean Biller operated a Vancouver-based phone room to encourage and pressure people to purchase the securities of issuers billed for this service.

The notice of hearing says that, from May 2002 to November 2002, the three men along with three corporate entities, contravened the Securities Act through their operation and management of the phone room: They each allegedly traded securities without proper registration; engaged in cold calling; made prohibited undertakings as to future prices of securities; and, engaged in unfair practices.

Biller, who is alleged to have managed the phone room, hired callers, organized the room and drafted caller scripts, is already under a 10-year ban from trading securities and engaging in investors relations as ordered by the commission in February 2000.

These allegations have not been proven. Counsel for the Executive Director will apply to set dates for a hearing into the allegations before a panel of commissioners.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view notices of hearings on our website www.bcsc.bc.ca. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.