April 7, 2003
For Immediate Release

Stephen Sibold Named New Chair of Canadian Securities Administrators

Toronto - Alberta Securities Commission Chair Stephen Sibold has been named the new chair of the Canadian Securities Administrators, the national umbrella group representing Canada's securities regulators.

Sibold succeeds Douglas Hyndman, the British Columbia Securities Commission Chair who served as head of the CSA for eight years. Donne Smith, Administrator of the New Brunswick Securities Administration Branch, was named vice-chair.

I was honoured to represent my CSA colleagues and thank them for their support over the years, said Hyndman. The ongoing work of the CSA is an important component in ensuring that all Canadians have access to fair and efficient capital markets.

Doug Hyndman has done a tremendous job during his tenure as CSA Chair, Sibold

said. As I step into this role, I am, among other things, focused on continuing the development of uniform legislation for the CSA, and on improving the effectiveness of the CSA, said Sibold.

Sibold's and Smith's appointments were confirmed at a meeting of the chairs of the 13 provincial and territorial regulators in Toronto on Thursday April 3, 2003. Both positions are two-year terms.

The CSA is an umbrella organization for the 13 securities regulators of Canada's provinces and territories to coordinate and harmonize regulation of the Canadian capital markets.

Media relations contacts:

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

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

Manitoba Securities Commission
Ainsley Cunningham
204-945-4733
1-800-655-5244 (Manitoba only)
www.msc.gov.mb.ca

Ontario Securities Commission
Eric Pelletier
416-595-8913
1-877-785-1555 (toll free in Canada)
www.osc.gov.on.ca

Commission des valeurs mobilires du Québec
Barbara Timmins
514-940-2176
1-800-361-5072 (Québec only)
www.cvmq.com

N.B. Securities Administration Branch
Christina Taylor
506-658-3060
1-866-933-2222 (New Brunswick only)
www.investor-info.ca

Nova Scotia Securities Commission
Nick Pittas
902-424-7768
www.gov.ns.ca/nssc

Securities Commission of Newfoundland and Labrador
Susan W. Powell
709-729-4875
www.gov.nf.ca/gsl/cca/s

Registrar of Securities
Department of Justice/Government of the Northwest Territories
Tony Wong
867-873-7490
tony_wong@gov.nt.ca