The Ontario, Alberta and British Columbia Securities Commissions today announced that they have approved orders requiring the Toronto Stock Exchange and the TSX Venture Exchange to consolidate all trades that are marked for the accounts of insiders of each listed company and to publicly disseminate the information in summary form at the end of each trading day.

With public access to an end-of-day summary of insider trades, retail investors will have better access to trading information that they may consider material, providing further transparency of the Canadian capital markets.

In September 2002, the Insider Trading Task Force was established by the OSC, BCSC and ASC, the former Commission des valeurs mobilières du Québec, the Investment Dealers Association of Canada, the Bourse de Montréal and Market Regulation Services Inc. to evaluate how best to address illegal insider trading in the Canadian capital markets.

In November 2003, the Insider Trading Task Force released a report entitled Illegal Insider Trading in Canada: Recommendations on Prevention, Detection and Deterrence(the Report) which outlined a number of recommendations. One of the recommendations was to disclose a marker for insiders of an issuer. Although insider markers are required under the Universal Market Integrity Rules, they are currently available only for regulatory purposes and are not publicly disclosed.

The Report of the Insider Trading Task Force is available on the Canadian Securities Administrators website at www.csa-acvm.ca and the OSC web site at www.osc.gov.on.ca.

The TSX Order is also available on the OSC web site.