Decisions and Freeze and cease trade orders Securities

Montréal – On August 30, 2004 and at the request of the Agence nationale d’encadrement du secteur financier (also known as the “Autorité des marchés financiers” or “AMF”), the Bureau de décision et de révision en valeurs mobilières (“BDRVM”) extended for 90 days the initial freeze order issued against Enviromondial on December 9, 2003 by the Commission des valeurs mobilières du Québec (la “Commission”).

These conservatory measures are intended to ensure that investors are protected while the AMF pursues its investigation.

On December 9, 2003, the Commission had issued a freeze order on an amount totalling $69,500. The BDRVM renewed the order on March 4, 2004 and May 26, 2004. The funds are frozen in the trust account of Me Alain Houle, the company’s lawyer. He may not dispose of the funds without BDRVM’s consent.

To read the BDRVM decision, please consult the appendix to the press release posted on the AMF website, under Media Centre/The Autorité’s Latest Press Releases.

Created under the Act respecting the Agence nationale d'encadrement du secteur financier, the Bureau de décision et de révision en valeurs mobilières (BDRVM) is a tribunal which exercises certain powers prescribed by the Securities Act. The BDRVM is independent of the AMF.

Established on February 1, 2004, the Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector. The AMF consists of the Commission des valeurs mobilières du Québec, the Bureau des services financiers, the Régie de l'assurance-dépôts du Québec, the Fonds d'indemnisation des services financiers and the Inspector General of Financial Institutions.

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