News Release

Toronto –Following the successful May 5, 2003 launch of the System for Electronic Disclosure by Insiders (SEDI), all SEDI issuers were required to file issuer profile supplements by May 30, 2003. Issuers who have not filed issuer profile supplements have not met their legal obligations and may be subject to regulatory action. They should file the required documents immediately or their insiders will be unable to meet their filing requirements that begin June 9. As well, starting June 9, issuers will be required to file issuer event reports on SEDI within one business day of events such as mergers, amalgamations, stock splits and consolidations, among other events.

To have accurately filed the issuer profile supplement, an issuer would have registered as a SEDI user and then filed insider affairs contact information and a complete list of the securities the company issues to insiders. To ensure that this information is complete, log in to SEDI (www.sedi.ca) and view the details of the issuer profile supplement. Click “Issuer profile supplement” in the top right navigation bar, and then click “View issuer profile and supplement” in the left navigation bar to view the issuer profile supplement. Click “View security designation” to view a list of all security designations that have been added to the issuer profile supplement.

Insiders will begin filing insider profiles and insider reports in SEDI June 9, 2003. The Canadian Securities Administrators Staff Notice 55-309, which sets out the SEDI filing requirements, is available at www.csa-acvm.ca or from securities commissions at the web sites listed below. Additional information about registering, creating accounts and profiles, and filing issuer event and insider reports, is available in the SEDI User Guide also accessible from these web sites or from the SEDI online Help. Issuers are encouraged to remind their insiders of the requirement to file reports online.

SEDI, an initiative of the CSA, an umbrella organization of the 13 provincial and territorial securities regulators, will bring faster and better public access to data on insider trades by making the information available electronically, within moments of filing.

The SEDI system was developed for the CSA by CDS INC., a subsidiary of the Canadian Depository for Securities Limited, which also operates SEDAR and the National Registration Database (NRD).

Joni Delaurier Alberta Securities Commission 403-297-4481 www.albertasecurities.com	Andy Poon B.C. Securities Commission 604- 899-6880 1-800-373-6393 (B.C. & Alberta only) www.bcsc.bc.ca
Ainsley Cunningham Manitoba Securities Commission 204-945-4733 1-800-655-5244 (Manitoba only) www.msc.gov.mb.ca	Éric Pelletier Ontario Securities Commission 416-595-8913 www.osc.gov.on.ca
Barbara Timmins Commission des valeurs mobilières du Québec 514-940-2176 1-800-361-5072 (Quebec only) www.cvmq.com