Proceedings

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IN THE MATTER OF THE SECURITIES ACT

R.S.O. 1990, c.S.5, AS AMENDED


AND


W. JEFFERSON T. BANFIELD



NOTICE OF HEARING

(Subsections 127 and 127.1)

      TAKE NOTICE that the Ontario Securities Commission (the "Commission") will hold a hearing pursuant to sections 127 and 127.1 of the Securities Act (the "Act") at the Commission's offices on the 17th Floor, Main Hearing Room, 20 Queen Street West, Toronto, Ontario, commencing on Thursday, the 19th day of August, 2004 at 11:00 a.m., or as soon thereafter as the hearing can be held:

      TO CONSIDER whether in the opinion of the Commission, it is in the public interest to make an order or orders, pursuant to ss.127 and 127.1 of the Act:

  1. that pursuant to s.127(1) clause 2, W. Jefferson T. Banfield ("Banfield") cease trading in securities for such period as may be determined by the Commission;
  2. that pursuant to s.127(1) clause 6, Banfield be reprimanded;
  3. that pursuant to s.127.1(1) and (2), Banfield be ordered to pay costs or a portion of the costs related to the investigation and hearing;
  4. such other orders as the Commission may deem appropriate.

      BY REASON OF the allegations set out in the Statement of Allegations made by Staff of the Commission dated July 14, 2004, and such additional allegations as counsel may advise and the Commission may permit;

      AND TAKE FURTHER NOTICE that any party to the proceedings may be represented by counsel at the hearing;

      AND TAKE FURTHER NOTICE THAT, upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and that such party is not entitled to any further notice of the proceeding.

Dated at Toronto this 14th day of July, 2004

"Daisy G. Aranha"
Daisy Aranha

A/Secretary to the Commission

TO:

W. JEFFERSON T. BANFIELD
c/o Helen Daley
Wardle Daley LLP
250 Yonge Street
Suite 2010
Toronto, Ontario
M5B 2L7

Tel: 416-351-2770
Fax: 416-351-9196