Proceedings

IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, C. S.5, AS AMENDED
AND
IN THE MATTER OF
ALTAMIRA MANAGEMENT LIMITED
NOTICE OF HEARING
(Section 127)

The Ontario Securities Commission (the "Commission") will hold a hearing pursuant to section 127 of the Securities Act R.S.O. 1990 c. S.5, as amended (the"Act") at the Commission's offices on the 8th Floor, 20 Queen Street West, Toronto, Ontario, commencing on Monday, September 15, 1997 at 10:00 a.m. toconsider:

1) whether it would be in the public interest to make an order under clause 4 of subsection 127(1) of the Act that the respondent Altamira Management Limited("Altamira") submit to a review of its trading practices and procedures and institute such changes as may be ordered by the Commission;

2) whether it would be in the public interest to make an order under clause 6 of subsection 127(1) of the Act that Altamira be reprimanded; and

3) such further and other orders or directions as the Commission may consider to be in the public interest to make.

BY REASON OF the allegations described in the attached statement of allegations of staff of the Commission and such additional allegations as counsel mayadvise and the Commission may admit;

AND TAKE FURTHER NOTICE that any party to the proceedings may be represented by counsel of its choice at the hearing if it intends to submit evidencethereat;

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

September 12th, 1997.

"Daniel P. Iggers"