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

December 13, 2005


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

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In the Matter of Triax Growth Fund Inc., New Millennium
Venture Fund Inc., E2 Venture Fund Inc.,
Capital First Venture Fund Inc.,
New Generation Biotech (Balanced) Fund Inc.,
and Venture Partners Balanced Fund Inc.
(collectively referred to as the "Funds")

TORONTO – Following a hearing pursuant to section 8 of the Securities Act, R.S.O. 1990, c. S.5 as amended, the Commission issued an Order on November 23, 2005 confirming the decision of the Director of the Investment Funds Branch who determined that she would not approve a merger of the Funds, if the Funds, rather than the Managers, were to bear the costs of the merger.

The Reasons for this Order have been issued today and are available at www.osc.gov.on.ca.

OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY


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