Proceedings

Notice from the
Office of the Secretary
Ontario

Ontario Securities
Commission


20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
Commission des valeurs mobilières de l'Ontario
FOR IMMEDIATE RELEASE

February 3, 2009


IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, C.5, AS AMENDED

- AND -

IN THE MATTER OF
NORSHIELD ASSET MANAGEMENT (CANADA) LTD.,
OLYMPUS UNITED GROUP INC., JOHN XANTHOUDAKIS,
DALE SMITH AND PETER KEFALAS


TORONTO – Following a hearing to consider a motion to stay the proceedings held on December 11, 2008 in the above noted matter, the Panel released its Reasons and Decision today.

A copy of the Reasons and Decision dated February 3, 2009 is available at www.osc.gov.on.ca


OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY


- 30 -



For media inquiries: Wendy Dey
Director, Communications & Public Affairs
416-593-8120

Laurie Gillett
Manager, Public Affairs
416-595-8913

Carolyn Shaw-Rimmington
Assistant Manager, Public Affairs
416-593-2361

For Investor Inquiries: OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)