Securities Decisions and Freeze and cease trade orders

Montréal – At the request of the Agence nationale d'encadrement du secteur financier (also known by the name "Autorité des marchés financiers" or "AMF" ), the Bureau de décision et de révision en valeurs mobilières (BDRVM) has extended for ninety days, as of March 4, 2004, the freeze order initially issued against Enviromondial on December 9, 2003 by the Commission des valeurs mobilières du Québec (the "Commission").

These measures are conservatory and are intended to protect investors while the AMF pursues its investigation.

Recall that on December 9, 2003, the Commission had issued a freeze order on the sum of $69,500, which had been initially frozen on July 26, 2002. This sum was transferred to the account in trust of Me Alain Houle, the company's new counsel, who may not dispose of it without the BDRVM's accord.
To read the BDRVM's decision (available in French only), please consult the appendix to the press release posted on the AMF's website at www.lautorite.qc.ca This link will open in a new window, under Media Centre / The Autorité's Latest Press Releases.

Established on February 1, 2004, the Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector. The AMF merges 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.

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For More Information:
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Barbara Timmins (514) 940-2176
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