TSX Group Inc. has appointed Kevan Cowan to the position of president of the TSX Venture Exchange, effective April 30, 2007, following the departure of current president Linda Hohol, who has decided to retire after five years at her position.

“We’re thrilled Kevan has agreed to take on this key position in the organization. He is someone with the stock exchange experience, strategic vision and enthusiasm to lead this important national exchange,” said TSX Group CEO Richard Nesbitt. Added Hohol: “I know I am leaving TSX Venture Exchange in very good hands with Kevan.”

Cowan, who will be based out of Calgary, is currently a member of TSX Group’s senior management team in his role as senior vice president, TSX Venture Exchange and vice president, business development, TSX Group. As president of the TSX Venture Exchange, Cowan will lead the day-to-day operation of Canada’s public venture capital marketplace.

TSX Venture Exchange companies are active in the mining, oil and gas, manufacturing, technology, biotechnology, financial services and other sectors. Cowan will continue to build and enhance this market while managing the regulatory model governing public issues in the junior market and continue to work to ensure the exchange is viewed as a business partner to emerging issuers.

Cowan joined the Canadian Dealing Network in 1997 as General Counsel. In 2000 he became a vice president of the Canadian Venture Exchange and in 2002 was promoted to the role of senior vice president, TSX Venture and vice president, TSX Group.

Under Hohol’s leadership, TSX Venture Exchange has grown into a unique, high-quality, national junior market that allows small issuers an opportunity to raise public venture capital at early stages and grow and develop. “We mentor companies, work with them and share in their success,” said Hohol. “We now have a strong national model and we are poised to market our model internationally and attract even more new listings.”

Through the end of October, more than $6.4 billion in new equity financing has been raised by TSX Venture Exchange issuers. Fifty-four issuers have graduated to Toronto Stock Exchange — an increase of 50% over the same period in 2005.

“Linda has been tireless in her work heading up the junior market and is well known and respected in the community,” said Nesbitt. “She has been a strong leader and vocal advocate of TSX Venture Exchange since her appointment in 2002 and her efforts have helped build the market into a world-class exchange for emerging issuers. We are grateful for all that she has done to bring TSX Venture Exchange to where it is today and we wish her all the best as she heads into the next phase of her life.”