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

January 31, 2006


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

- AND -

IN THE MATTER OF

PHILIP SERVICES CORP.,
ALLEN FRACASSI, PHILIP FRACASSI,
MARVIN BOUGHTON, GRAHAM HOEY,
ROBERT WAXMAN
AND JOHN WOODCROFT

TORONTOThe Commission issued an Order today adjourning the commencement of the Hearing in the above noted matter to March 6, 2006 .

A copy of the Order is available at www.osc.gov.on.ca

OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY

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