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) extended, for a period of 90 days, the freeze order initially issued on May 31, 2007 against the following companies and individuals: 9151-5270 Québec inc., Noble & Finance inc., Les Investissements Noble & Finance inc., Services Financiers l’Italien inc., Michel L’Italien, Berchmans L’Italien, Lisette L’Italien, Pauline L’Italien, Sylvie Basso, Fleurette Rousseau, Michelle Béliveau, Water Bank of America Inc. and Water Bank of America (USA) Inc.

Under this order, these companies and individuals may not dispose of shares of Water Bank of America Inc. and Water Bank of America (USA) Inc. registered in the name of Michel L’Italien, Berchmans L’Italien, Lisette L’Italien, Services Financiers l’Italien inc., Pauline L’Italien, Sylvie Basso, Fleurette Rousseau and/or Michelle Béliveau and must refrain from withdrawing the shares from any person.

In August 2008, the AMF filed 102 charges against Michel L’Italien and sought fines totalling $692,000.

On March 5, 2007, orders were issued against Michel L’Italien prohibiting him from trading in securities and pursuing activities as a securities dealer.

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

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