News Release

Released: 12/19/00 Contact: Dean Pelkey
NR 00-54 (604) 899-6880 or
(BC only) 1-800-373-6393

Vancouver -- The British Columbia Securities Commission is warning Surrey and Coquitlam investors about an unregistered investment that may be promoted in their communities.

The commission extended a temporary order December 14 halting trading in securities of Davis and Davis Professional Development Seminars Ltd. (PDSL), Lauron Enterprises Ltd. and 3021310 Nova Scotia Ltd.

The commission also prohibited the investment's promoters, Laurie Davis, Ronald Davis and Betty MacArthur from trading in securities, acting as officers or directors of any issuer or engaging in investor relations activities. The orders came after the commission received reports that the trio recently made presentations in Surrey and Coquitlam about a promotion marketed as the Personally Empowered People program (PEP).

The PEP program recruits potential participants through newspaper ads seeking people who want to work from home or who are interested in careers in "human development." Recruits are sold membership packages that include workbooks, videos, training manuals and other miscellaneous support tools that allegedly enable them to sell PEP packages to others.

Once they become a "PEP member," recruits are offered "investment blocks" in one of the Davis' private companies -- PDSL, Lauron Enterprises or 3021310 Nova Scotia Ltd. Recruits are told the companies have huge growth potential and are close to signing lucrative TV contracts for a program promoting PEP. Recruits who invest are promised returns of up to 25 per cent annually.

The PEP companies have also run afoul of securities regulators in Atlantic Canada. The Prince Edward Island Attorney General's department has issued charges under the Securities Act against Laurie and Ronald Davis for trading in an unlicensed investment product and the Nova Scotia Securities Commission has issued a cease trade order against the couple.

Regulators in Atlantic Canada estimate as many as 80 people have lost more than $850,000 investing in PEP and the related companies.

Anyone approached by individuals claiming to be associated with PEP or Davis and Davis Professional Development Seminars should contact the BCSC at 899-6600 or 1-800-373-6393.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.