News Release

Vancouver - The British Columbia Securities Commission has reached settlements with a sanctioned individual who contravened a Commission order issued on February 16, 2000, and two brothers who assisted him in doing so.

Under the terms of the separate settlements, Francis (Frank) Jason Dean Biller cannot become or act as a director or officer of any issuer in British Columbia in his lifetime. Biller also received a permanent ban from engaging in investor relations activities, and purchasing or trading securities in B.C.

It was also determined Biller's conduct warranted a $250,000 sanction, but because he has liabilities in excess of $30 million and he is bankrupt, the Executive Director determined he did not have any prospect of paying the BCSC, so the sanction was not imposed.

In the other two settlements, Richard Norman Jeffs will not engage in investor relations activities in B.C. for a period of five years. His brother, Robert Leigh Jeffs (commonly known as Leigh Jeffs), has agreed to pay $75,000 to the BCSC, and he is to ensure both Fairtide Capital Corporation and Bayshore Management Corporation are stricken from the B.C. corporate registry.

The Executive Director also ordered Leigh Jeffs to resign any position he holds as a director or officer of a public issuer, and he cannot become a director or officer of a public issuer, or engage in investor relations for 15 years.

In their settlements, the Jeffs brothers admitted to enabling Biller to violate his order between June 2002 and November 2002. The BCSC issued the Biller order on February 16, 2000, which prohibited Biller from trading in securities and engaging in investor relations for ten years. By admitting to promoting securities and engaging in investor relations activities in a phone room in his settlement, Biller agreed that he had violated his order.

In May 2002, Richard Jeffs assisted Biller to relocate from Costa Rica to Vancouver to work in a phone room operated by Bayshore, a company his brother, Leigh Jeffs, sat on as a director. At the time, Leigh Jeffs also acted as director and president of Fairtide, and was sole director and president of Gibraltor Consulting Corporation.

In his settlement, Leigh Jeffs admitted to failing to be aware of the provisions of the Securities Act and to ensure the phoners, as employees of Bayshore, did not breach it.

From June 2002 to November 2002, Gibraltor employed Biller to manage Bayshore's phone room. During this time, Bayshore's phoners made thousands of calls to people living both inside and outside of B.C., violating the Securities Act by repeatedly calling people and pressuring them to purchase the investments they were promoting. Phoners also contravened the Act by trading in the securities they promoted.

In November 2002, BCSC staff executed a search warrant on the premises, and the phone room ceased operation shortly thereafter.

As the phone room manager, Biller supervised approximately 16 phoners. His activities included assigning specific tasks and responsibilities to phoners, training them to deal with objections from call recipients, and writing scripts for them to read to possible investors.

Bayshore, Leigh Jeffs, Biller and the phoners were not registered under the Securities Act at the time.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlements on our website www.bcsc.bc.ca by typing in the search box, Robert Leigh Jeffs, Richard Norman Jeffs, Francis (Frank) Jason Dean Biller or 2007 BCSECCOM 192, 194 and 200. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.