For Immediate Release
March 13, 2008

Canadian Regulators Adopt Harmonized Prospectus Rule

Calgary - The Canadian Securities Administrators (CSA) announced today that National Instrument 41-101 General Prospectus Requirements (NI 41-101) and related amendments will come into force on March 17, 2008.

NI 41-101 creates a comprehensive and transparent set of national prospectus requirements for all issuers including certain investment funds.

“NI 41-101 will make it easier for issuers to distribute securities across Canada by establishing one standard set of national prospectus rules,” said Jean St-Gelais, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers (Québec). “The new rule will maintain a high level of disclosure to investors while reducing costs for issuers wishing to offer securities in more than one jurisdiction.”

The new rule is based on three general principles:

• Harmonization and consolidation of the general prospectus requirements among Canadian jurisdictions.

• Harmonization of the general prospectus requirements with the continuous disclosure and short form prospectus disclosure regimes.

• Amendments to the principles underlying the general prospectus requirements identified as a result of regulatory reviews, applications for exemptive relief, or public comment and consultation.

NI 41-101 is coming into force at the same time as Multilateral Instrument 11-102 Passport System and new national policies that streamline Canadian regulatory processes for prospectuses and exemptive relief applications.

NI 41-101 and related amendments are available on several CSA members’ websites.

The CSA, the council of the securities regulators of Canada’s provinces and territories,
co-ordinates and harmonizes regulation for the Canadian capital markets.

For more information:

Frédéric Alberro Autorité des marchés financiers 514-940-2176	Barbara Shourounis Saskatchewan Financial Services Commission 306-787-5842
Laurie Gillett Commission des valeurs mobilières de l’Ontario 416-595-8913	Andrew Poon British Columbia Securities Commission 604-899-6880
Nicholas A. Pittas Nova Scotia Securities Commission 902-424-6859	Mark Dickey Alberta Securities Commission 403-297-4481
Ainsley Cunningham Manitoba Securities Commission 204-945-4733	Jane Gillies New Brunswick Securities Commission 506-643-7745
Marc Gallant Prince Edward Island Office of the Attorney General 902-368-4552	Doug Connolly Financial Services Regulation Division Newfoundland and Labrador 709-729-2594
Louis Arki Nunavut Securities Registry 867-975-6587	Donald MacDougall Securities Registry Northwest Territories 867-920-8984
Fred Pretorius Yukon Securities Registry 867-667-5225