News Release

Released: 06/23/00 Contact: Dean Pelkey
(604) 899-6880 or
(BC only) 1-800-373-6393

Vancouver -- The British Columbia Securities Commission will be monitoring Kathryn Gannon's trading activity and has prohibited her from acting as a director, officer or providing management services to publicly traded companies.

Gannon signed a settlement agreement with the BCSC that calls for all her securities trading to be done through a single registered dealer. She must also provide the BCSC with the name of the dealer and copies of her monthly account statements.

Gannon currently lives in Vancouver and is facing extradition hearings to the U.S. where she has been named in criminal and civil actions related to insider trading.

The BCSC has limited Gannon's ability to participate in the securities market under a 1988 notice that calls for the BCSC to review cases and impose restrictions on individuals when they face criminal charges relating to securities trading.

The policy represents an attempt by the BCSC to balance the rights of individuals who are the subject of criminal or civil litigation with the public interest of B.C. investors.

The conditions imposed by the BCSC will remain in place until 30 days after the allegations against Gannon are resolved.

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

Copies of the agreement can be viewed on the commission’s website at www.bcsc.bc.ca or by contacting Media Relations Officer Dean Pelkey at 899-6880.