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
Inquiries: 403-297-4481

Frank Switzer
Ontario Securities Commission
Inquiries: 416-593-8314 or 1-877-785-1555

Andrew Poon
B.C. Securities Commission
1-800-373-6393 (BC & Alberta)

Denis Dube
Commission des valeurs mobilieres du Quebec
1-800-361-5828 (Quebec only)

Ainsley Cunningham
Manitoba Securities Commission
Inquiries: 1-800-655-5244

Barbara Shourounis
Saskatchewan Securities Commission

Eric Pelletier
CDS Inc.