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June 3, 1999

Vancouver Stock Exchange: Hauchecorne, Penalties Imposed

Further to the VSE’s February 16^th, 1999, disciplinary notice, which advised that an Exchange Hearing Panel ("the Panel") had found that Jean Claude Hauchecorne had breached VSE Rules F.1.01 and F.1.02, and By law 5.01(2), the Panel has now determined penalties.

The penalties imposed were:

1. a fine in the amount of $200,000;
2. disgorgement of commissions in the amount of $95,000;
3. permanent withdrawal of Exchange approval; and
4. costs of the Hearing.

Copies of the Exchange decision may be obtained from the Exchange’s Corporate Secretary at 689-3334.

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