Securities Decisions and Freeze and cease trade orders

Montréal – The Agence nationale d’encadrement du secteur financier (also known as the “Autorité des marchés financiers” or “AMF”) is asking the Bureau de décision et de révision en valeurs mobilières (BDRVM) to prohibit Napaul Poisson from carrying on any activity as a securities adviser, specifically with respect to portfolio management, without being registered as required under section 148 of the Securities Act.

At the request of the AMF, the BDRVM will call a hearing following which it will decide on the AMF’s allegations. The date of the hearing will be set at a pro forma hearing on October 15, 2004 at 9:30 a.m.

To read the AMF’s request, please consult the schedule of the press release published on the AMF website, under the heading 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.

— 30 —

For More Information:

Journalists only:
Philippe Roy (514) 940-2176
Issuers, dealers, advisers and representatives: (877) 525-0337, dial 9 for English, then dial 1 for industry
Consumers and investors: (877) 525-0337, dial 9 for English, then dial 2 for consumers