Freeze order renewed against Groupe Financier Fides inc. and Fiducie Fides

Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) issued, on September 6, 2006, a decision to renew the initial freeze order of June 14, 2006 against Groupe financier Fides inc., La Fiducie Fides and 9166-6198 Québec inc.

The president of Groupe financier Fides inc. and of 9166-6198 Québec inc. as well as the trustee of La Fiducie Fides is André Lacombe; Groupe financier Fides inc. is headquartered in Drummondville.

In June 2006, the BDRVM froze funds and issued cease trading orders because the Respondents distributed loan agreements without obtaining a receipt from the AMF in accordance with section 11 of the Securities Act. Investors were notified by Groupe financier Fides inc. and La Fiducie Fides that capital and interest could not be reimbursed.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.

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