October 26, 2001
For Immediate Release

Securities Regulators Provide More Time to Prepare for SEDI

Vancouver - Canadian securities regulators are extending the deadline for full implementation of the new system for electronic filing of insider trading reports.

The System for Electronic Disclosure by Insiders (SEDI) will go live as scheduled next Monday, October 29, the Canadian Securities Administrators (CSA) announced today. However, the deadline for public companies to file their issuer profile supplements has been extended to November 19 from November 5. In addition insiders will be required to file insider reports electronically effective December 17, a change from the original date of November 13. All on-line registration and filing procedures for insiders will be available beginning December 3.

The change was made to allow additional time to fine tune and further test the system. It will also provide a longer transition period as requested by issuers and filing agents during a nationwide series of information sessions sponsored by the CSA during the past two weeks.
Insiders will continue to use current paper procedures for filing until the new deadlines.

The CSA is the umbrella organization representing Canada's 13 provincial and territorial securities commissions. Further information regarding insiders' legal obligations can be found in the CSA Notice issued today, which is attached and posted on Commission websites.

If you experience a technical problem in SEDI, you can contact the CDS helpdesk from 7 a.m. to 11 p.m. eastern time Monday to Friday at 1-800-219-5381. If you need additional information on how to use SEDI for filing purposes, or if you need any compliance-related information concerning insider trading, contact your local securities commission.

Media Contacts:

Joni Delaurier
Alberta Securities Commission
403-297-4481
Inquiries: 403-297-4481
www.albertasecurities.com

Frank Switzer
Ontario Securities Commission
416-593-8120
Inquiries: 416-593-8314 or 1-877-785-1555
www.osc.gov.on.ca

Andrew Poon
B.C. Securities Commission
604-899-6880
1-800-373-6393 (BC & Alberta)
www.bcsc.bc.ca

Denis Dube
Commission des valeurs mobilieres du Quebec
514-940-2163
1-800-361-5828 (Quebec only)
www.cvmq.com

Ainsley Cunningham
Manitoba Securities Commission
204-945-4733
Inquiries: 1-800-655-5244
www.msc.gov.mb.ca

Barbara Shourounis
Saskatchewan Securities Commission
306-787-5842
www.ssc.gov.sk.ca

Eric Pelletier
CDS Inc.
416-365-8427
1-800-219-5381
www.cds.ca