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July 6, 1998

JOINT RELEASE WITH CANADA NEWSWIRE

Vancouver, BC – In yet another leading technology solution, the Vancouver Stock Exchange (VSE) is pleased to announce a new initiative – electronic filing and simultaneous dissemination of news releases.

Effective September 1, 1998, a new policy will be implemented whereby all listed companies will send their news releases to the VSE using the Exchange’s Internet site. The VSE will transmit these news releases to Canada NewsWire (CNW) for dissemination across CNW’s Canadian Disclosure (English) Networkâ in addition to posting the news releases to the Exchange’s new VC INFO, a database for venture company information.

Electronic filing of news releases provides four major benefits to listed companies:

• A fast, one-stop process which streamlines news dissemination within one hour
• Guaranteed simultaneous electronic dissemination to the broadest audience in the media and financial community via Canada’s largest and most comprehensive dedicated network
• Investors will be able to access the full-text news releases on the VSE Web site (http://www.vse.ca) and the CNW Web site (http://www.newswire.ca), following electronic dissemination by CNW

• The VSE’s new Web-based VC INFO will provide comprehensive information to investors on all listed companies. In addition to news releases, VC INFO will include prospectus filings, financial statements, financings, technical reports, director affiliations/holdings and more.

"Canada NewsWire plays a vital role on behalf of publicly traded companies in strengthening the Canadian capital markets and maximizing shareholder value", said CNW President and CEO Tom Enright. "With the use of leading edge technologies, VSE listed companies will simultaneously reach the broadest audience and in their preferred format through the extensive CNW dedicated network. This adds significant value to the investment decision-making process and maintains a level playing field."

Canada NewsWire is the nation’s premier full-text news release disseminator and is part of the world’s largest global communications network with electronic links to International affiliates. Staffed 24 hours a day, seven days a month, CNW electronically transmits news releases simultaneously through a satellite-based dedicated network to the largest audience in the media, financial community, regulatory agencies, worldwide stock quotation services and the global database industry.

"The Vancouver Stock Exchange looks for opportunities to apply technology in innovative ways to support our listed companies and this partnership with Canada NewsWire will raise their investor profile in the media and financial community", said Marc Foreman, VSE Vice-President of Trading and Market Information Services. "The quick, accurate and broad dissemination of news releases will ensure that investors have access to critical information for investment decisions. Distribution of listed company news releases through Canada NewsWire will lead to improved visibility and after-market support of VSE listed companies."

The VSE was the first North American exchange to implement fully automated trading by its Vancouver Computerized Trading (VCT) in 1990. In 1995, the VSE was the first Canadian exchange to launch an Internet site. In 1998, the upgraded Internet site and the new VC INFO database are further examples of the VSE’s leadership in applying technology to enhance the market’s operational efficiency for investors, listed companies and member firms.

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