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CNQ Appoints New President

March 11, 2002 (TORONTO) – The Canadian Trading and Quotation System Inc. (CNQ) today announced the appointment of Mr. Robert G. Cook to the position of President, Chief Executive Officer and Director of CNQ, effective immediately.

Mr. Cook has extensive market regulation experience in the securities industry in Canada. During his 19-year tenure with the Toronto Stock Exchange (TSE), he held a number of positions in listed company regulation, including Director Original Listings. During the last six years he was Director Market Surveillance and then Vice President of Market Regulation Services Inc., created in 2001 by the TSE and the Investment Dealers Association of Canada (IDA). In addition to Mr. Cook’s senior management expertise, his experience includes monitoring of trading, timely disclosure and investment dealer compliance with trading rules. Mr. Cook was a member of the Mining Standards Task Force formed by the Ontario Securities Commission and the TSE, which played an instrumental role in developing a new regulatory model for public companies engaged in mining exploration, development and production. Mr. Cook holds a BA in Economics from York University and an MBA from the University of Western Ontario.

“We are building a strong and dynamic team at CNQ and are extremely pleased to have attracted someone with Rob’s qualifications and talent. His extensive listings and market regulation experience will significantly augment the integrity being built into our marketplace,” stated Ian Bandeen, Chairman of CNQ.

“I am excited by the challenges and opportunities at CNQ and look forward to ensuring our new marketplace benefits investors, small cap Ontario reporting issuers and IDA members,” said Mr. Cook.

The Canadian Trading and Quotation System Inc., a private Ontario corporation, is providing a new marketplace designed specifically to meet the needs and characteristics of Ontario reporting small cap issuers and their investors. CNQ will provide a fully-automated, regulated and transparent, electronic marketplace. CNQ will ensure the highest possible levels of efficiency and integrity to facilitate the trading of non-exchange listed equity securities by approved Investment Dealers Association of Canada members. In addition, it will facilitate increased visibility for emerging companies, provide access to new investors and increased liquidity.

The Canadian Trading and Quotation System Inc. will be exhibiting at the PDAC Convention at the Metro Toronto Convention Centre from March 10-13, 2002. Please drop by Booth #2321 at the Investors Exchange for further information.


For Further Information Please Contact:

Ian Bandeen, Chairman Tel: 416-409-0981

Natasha Blackburn, Business Development Officer Tel: 416-572-2478

Canadian Trading and Quotation System Inc. Email:[email protected]