Securities Decisions and Freeze and cease trade orders

Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM), in a decision dated July 4, 2006, has extended for a further 90 days as of this decision the initial freeze order issued against Productions Action Motivation inc. on April 22, 2004.

These conservatory measures are intended to ensure that investors are protected while the AMF pursues its investigation. At the latest court hearings, the AMF argued that the reasons for the initial freeze order had not changed and it was pursuing its investigation.

However, the BDRVM partially lifted the freeze order on $6,617.92 so a payment could be made to Monique Petit. The decision is further to a request from Ms. Petit, filed with the BDRVM on June 26, 2006, which stipulated that she had obtained a judgment from the Court of Québec (Small Claims Division) against Productions Action Motivation inc. and stated she was applying for a partial lifting of the initial freeze order issued by the BDRVM so that the amount granted to her by the Court of Québec could be paid.

On April 22, 2004, the BDRVM issued a freeze order on a brokerage account containing foreign securities at Desjardins Securities (Disnat) and on funds in an account at the Caisse populaire Desjardins Charles-Lemoyne. The BDRVM renewed the order on July 21, 2004, October 8, 2004, January 10, 2005, April 14, 2005, July 13, 2005, October 11, 2005, January 9, 2006 and April 7, 2006.

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

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Information:

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Frédéric Alberro (514) 940-2176
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