April 9, 1999

Toronto - The Ontario Securities Commission (the "Commission") announced today that it has laid charges of trading in securities in Ontario without being registered in the Ontario Court of Justice (Provincial Division) against Einar Bellfield .

On February 5, 1991, the Commission removed Bellfield's exemptions until January 31, 1999. The charges allege that in 1995, Bellfield traded in accounts at three Ontario brokerage firms while the exemptions were not available to him and he was not registered; therefore, it is alleged that he contravened the Securities Act.

The investigation that resulted in the laying of these charges was conducted under the auspices of Securities Enforcement Review Committee ("SERC"), a committee formed to investigate multi-jurisdictional securities infractions. In particular, this investigation involved the collaboration of the RCMP, the OPP and the Ontario Securities Commission.

Mr. Bellfield (or his counsel or agent) is required to appear before the Ontario Court of Justice (Provincial Division) at Old City Hall, Toronto, Ontario on Wednesday May 12, 1999 at 9:00 a.m. and thereafter as required by the Court.

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