News Release

Vancouver – The British Columbia Securities Commission has reached a settlement with a former company director who admitted to taking part in issuing a news release that contained false and misleading information.

Under the settlement, David Lynn Hunter cannot be a director or officer of any issuer for five years except in limited circumstances.

Hunter was a director of Nano World Projects Corp., a Delaware corporation that was quoted on the NASD Over-the-Counter Bulletin Board. Hunter admitted that he reviewed and approved a news release that was publicly issued on April 20, 2000 that stated Nano World had negotiated a $15-million (U.S.) private financing deal with Voyager Securities Ltd. At the time of the news release, Hunter ought to have known that Voyager had only agreed to solicit subscriptions for the financing and not agreed to provide the financing as the release falsely stated. He admitted that his conduct was contrary to the public interest.

Nano World was delisted from the NASD OTC in April 2001 for failing to file mandatory reports.

A commission decision into allegations of securities law violations against Nano World and its chief executive officer is pending after a hearing was held this March.

The B.C. Securities Commission is an independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement on our website www.bcsc.bc.ca by typing in the search box, David Lynn Hunter or 2005 BCSECCOM 260. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.