News Release

Released: March 3, 1997  Contact: Doug Hyndman or Barbara Barry 660-4800 or (BC only) 1-800-373-6393

Vancouver -- British Columbia Securities Commission Chair Doug Hyndman announced today that Finance Minister Andrew Petter has appointed eleven members to the Securities Policy Advisory Committee (SPAC), effective immediately.

The Securities Policy Advisory Committee (SPAC) is a committee appointed by the Minister of Finance under the BC Securities Act to provide independent advice and recommendations from the investment community and general public to the BC Securities Commission on regulatory, administrative, and legislative matters affecting the operation of the securities market in the Province. Seven of the members have been reappointed. Four are newly appointed.

B.C. Securities Commission Chair Hyndman welcomed the new and returning SPAC members and said, "The Commission is grateful for the valuable contribution of SPAC members and looks forward to receiving their continued input as we address the complex challenges of regulating a rapidly evolving securities market".

Reappointed for three year terms are:

Kenneth G. Hanna (Chair of SPAC)
President, Aber Resources Ltd.

John Webster
Partner, Price Waterhouse

Michael Goldberg
Dean, University of British Columbia Faculty of Commerce

Reappointed for a two year term is:

Michael M. Ryan
Vice President, Leith Wheeler Investment Counsel Ltd.

Appointed for two year terms are:

Valerie J. MacLean
General Manager, Better Business Bureau of Mainland BC

R. Michael Jones
President, Cathedral Gold Corporation

Reappointed for one year terms are:

Michael J. Brown
President, Ventures West Management Ltd.

George C. Stevens, Q.C.
Vice President, Corporate and Legal Affairs, Teck Corporation

Marty Reynolds
Chairman, Pacific International Securities Inc.

Appointed for one year terms are:

S.R. (Bob) Munroe
President, FPC Investments Inc.

Judy Rothwell
Partner and National Director, KPMG Chartered Accountants

The British Columbia Securities Commission is the independent provincial agency responsible for regulating trading in securities and exchange contracts.