March 23, 2005 Decisions and Freeze and cease trade orders Securities

Montréal – Nine individuals in connection with Maximmom pleaded guilty for failing to appear to testify or refusing to testify after being duly summoned to do so in the course of an investigation launched by the Commission des valeurs mobilières (section 195(4) of the Securities Act). The Court of Québec (Criminal and Penal Division), district of Montréal, ordered each individual to pay a fine of $1,000.

The individuals are the following:

• Micheline Beaulieu
• Joseph Gilles P. Bernard
• Jean-Marc Delorme
• Pierrette Demers
• Diane Desmarais
• Denis Fortin
• Michel Girard
• Lucien Martin
• Michel Raymond

In exchange for a minimum cash loan in the amount of US$500, Club privé Maximmom Ltd. guaranteed investors a compound monthly return of 6%. Loans were carried out via a bank transfer to a foreign bank for the benefit of Maximmom International Distribution Inc. This form of investment constitutes a security within the meaning of the Securities Act.

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

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