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CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS)

TECHNICAL AMENDMENTS TO CDS PROCEDURES

SWIFT RELEASE

NOTICE OF EFFECTIVE DATE

A. DESCRIPTION OF THE AMENDMENT

Background

CDS Participants who subscribe to CDS's Entitlements Messaging Service ("Service") are billed directly by the SWIFT organization. This direct billing procedure requires subscribing CDS Participants to complete and submit certain SWIFT forms. The procedures marked for the amendments may be accessed on the CDS website at:

http://www.cds.ca/cdsclearinghome.nsf/Pages/-EN-UserDocumentation?Open

Description of Proposed Amendments

The proposed amendment inserts a reminder to Participants in the CDS User Guide -- entitled Participating in CDS Services -- that these forms must be completed by subscribers to the Service and that the appropriate documentation can be obtained from their CDS Customer Service representative.

B. REASONS FOR TECHNICAL CLASSIFICATION

The amendments proposed pursuant to this Notice are considered technical amendments as they are matters of a technical nature in routine operating procedures and administrative practices relating to the settlement services.

C. EFFECTIVE DATE OF THE RULE

Pursuant to Appendix A ("Rule Protocol Regarding The Review And Approval Of CDS Rules By The OSC") of the OSC Recognition and Designation Order, as amended 1 November, 2006, and Annexe A ("Protocole d'examen et d'approbation des Règles de Services de Dépôt et de Compensation CDS Inc. par l'Autorité des marchés financiers") of AMF Decision 2006-PDG-0180, made effective on 1 November, 2006, CDS has determined that these amendments will be effective on February 5, 2007.

D. QUESTIONS

Questions regarding this notice may be directed to:

Tony Hoffmann

Legal Counsel

CDS Clearing and Depository Services Inc.

85 Richmond Street West

Toronto, Ontario M5H 2C9

Telephone: 416-365-3768

Fax: 416-365-1984

e-mail: attention@cds.ca

JAMIE ANDERSON
Managing Director, Legal