News Release

FOR IMMEDIATE RELEASE September 11, 2001

Vancouver -- The following statement was issued today by Douglas Hyndman, Chair of the Canadian Securities Administrators (CSA), which represents Canada’s 13 provincial and territorial securities commissions:

“In light of the tragic events in the U.S. today, Canadian securities regulators have been in close contact with exchanges, self-regulatory and clearing organizations and trade associations.

We strongly support the action taken by the Investment Dealers Association of Canada to close the domestic bond and money markets, the members of the Investment Funds Institute of Canada to stop purchases, sales, redemptions and switches in the securities of a mutual fund, and Canada’s stock exchanges to stop trading earlier today.

The CSA are continuing to monitor the situation. It is expected the disruption in markets will be temporary and that trading will resume as soon as practicable.

The CSA will keep the public advised.”