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

November 29, 2005


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

- AND -

IN THE MATTER OF

PHILIP SERVICES CORP., ALLEN FRACASSI, PHILIP FRACASSI,
MARVIN BOUGHTON, GRAHAM HOEY, COLIN SOULE,
ROBERT WAXMAN, AND JOHN WOODCROFT

TORONTOThe Commission issued an Order approving the settlement agreement between Staff of the Commission and Colin Soule on Friday, November 25, 2005 .

A copy of the Order and Settlement Agreement is available at www.osc.gov.on.ca.

OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY

- 30 -

For Media Inquiries: Wendy Dey
Director, Communications and Public Affairs
416-593-8120
  Eric Pelletier
Manager, Media Relations
416-595-8913
For Investor Inquiries: OSC Contact Centre
416-593-8314
1-877-785-1555 (Toll Free)