News Release

Vancouver – The B.C. Securities Commission has imposed a five-year trading ban on a day trader who acted as an unregistered portfolio manager for 16 investors.

Michael Conn Enns, of Kelowna, admitted to day trading for the 16 investors who gave him $650,000. Enns began day trading about July 2001 after completing a short course on day trading. By October 2002, he had entered into written agreements with the investors to share in the net profits and losses from his day trading. He lost $550,000 of the investors’ money and $170,000 of his own money.

The commission investigated the matter after inquiries were made about the background of Enns.

Enns has never been registered under the Securities Act in B.C. or in any other jurisdiction.

Under the settlement agreement, Enns is also prohibited from being a director or officer of any issuer and from engaging in investor relations activities on behalf of any issuer for five years.

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 settlement agreement can be viewed in the documents database of the commission’s website www.bcsc.bc.ca or by contacting Andrew Poon, Media Relations, 604-899-6880.