Court Continues Freeze Directions in the Matter of Secure Investments, Daniel Shuttleworth and Andrew Keith Lech

TORONTO - On April 14 and 15, 2003, the Ontario Securities Commission issued six Directions requiring several Ontario banks to hold the contents of specified accounts held in the name of Daniel Shuttleworth or Andrew Keith Lech. The Directions were issued to permit Staff of the Commission to continue their investigation into investment activities conducted by Mr. Shuttleworth and Mr. Lech through these accounts.

The Directions were issued pursuant to section 126 of the Securities Act, which requires that the Directions be reviewed by the Superior Court of Justice within seven days. On April 22, 2003, Pepall J. issued an order continuing these Directions until at least June 5, 2003. The Commission's application to further extend these Directions will be heard on that date.