News Release

Vancouver -- Doug Hyndman, Chair of the British Columbia Securities Commission, is pleased to announce the appointment of Brenda M. Leong to the position of Executive Director of the Commission effective October 1, 2004. She will replace Stephen J. Wilson, who will be retiring on that date after more than five years as Executive Director.

Ms. Leong has been with the BCSC for 12 years. Since 2001, she has been Director of Legal and Market Initiatives. In that role she is responsible for advising the Commission on securities regulatory matters, exercising powers under the Securities Act, and managing legal and regulatory issues related to mergers and acquisitions. During her tenure with the Commission, Ms. Leong has successfully initiated and delivered results for the operating divisions she has managed and implemented customer service enhancements. She has built strong relations with securities regulators in other provinces through the Canadian Securities Administrators.

As Executive Director, Ms. Leong will be the chief operating officer of the Commission, responsible for overseeing the financial, administrative, and technical affairs of the Commission and directing the activities of staff to effectively enforce the Securities Act.

Ms. Leong holds a Bachelor of Commerce in Finance from the University of Alberta, Edmonton, and a Bachelor of Laws from Osgoode Hall Law School, Toronto. Before joining the Commission, she practiced corporate and securities law in Vancouver.

The British Columbia Securities Commission is the independent provincial government agency responsible for regulating trading in securities in British Columbia and administering the Securities Act.