Proceedings

January 21, 2001

FOR IMMEDIATE RELEASE

OSC Rules on Application to Cease -Trade
Chapters’ Shareholder Rights Plan

TORONTO - The Ontario Securities Commission held a hearing today to consider an application by Trilogy Retail Enterprises LP to cease-trade the shareholder rights plan of Chapters Inc. At the conclusion of the hearing, the Commission decided that it was in the public interest to issue a cease-trade order, effective immediately, with respect to Chapters’ shareholder rights plan.

The Commission will issue reasons for its decision in due course.

Reference:Rowena McDougall
Senior Communications Officer
Ontario Securities Commission
(416) 593-8117