For Immediate Release
September 18, 2008

Canadian Securities Regulators Implement Improvements to Executive Compensation Disclosure

Toronto – The Canadian Securities Administrators (CSA) announced today they are adopting Form 51-102F6 Statement of Executive Compensation as well as consequential amendments to National Instrument 51-102 Continuous Disclosure Obligations and related forms.

These amendments will result in better communication of payments and awards to certain executive officers or directors. Improved disclosure will help investors understand how decisions about executive compensation are made and provide insight into executive compensation as a key aspect of the overall stewardship and governance of a reporting issuer.

“It is important that issuers provide, and investors receive, meaningful disclosure about the compensation paid to executives,” said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “We have worked diligently across the CSA to ensure that the final rule is appropriate to our marketplace and beneficial to investors.”

The new Form and consequential amendments will take effect for years ending on or after December 31, 2008.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

For media inquiries:

Laurie Gillett
Ontario Securities Commission

Barbara Shourounis
Saskatchewan Financial Services Commission
Sylvain Théberge
Autorité des marchés financiers

Andrew Poon
British Columbia Securities Commission
Natalie MacLellan
Nova Scotia Securities Commission

Mark Dickey
Alberta Securities Commission
Ainsley Cunningham
Manitoba Securities Commission

Wendy Connors-Beckett
New Brunswick Securities Commission
Marc Gallant
Prince Edward Island
Office of the Attorney General

Doug Connolly
Financial Services Regulation Division
Newfoundland and Labrador
Louis Arki
Nunavut Securities Registry

Donn MacDougall
Securities Registry
Northwest Territories
Fred Pretorius
Yukon Securities Office