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February 2, 2005
For immediate release

Securities Office Attaches Terms and Conditions on Registration of Portus Alternative Asset Management Inc.

Office of the Attorney General

The Securities Office attached Terms and Conditions today under subsection 3(4) of the Securities Act (the “Act”) on Portus Alternative Asset Management Inc. (“Portus”), a registered Portfolio Manager/Investment Counsel. The Terms and Conditions prohibit Portus from opening new client accounts and accepting new funds or assets for investment in respect of any existing client accounts.

The Securities Office attached the Terms and Conditions in the public interest, based on conduct by Portus which appears to contravene section 28 of the Act and sections 37, 38(1) and (3) and (4), and 38.2(6) of the Securities Act Regulations and which appears to be contrary to the public interest.

The registration of Portus is under continuing review and investigation by the Securities Office.

Media Contact: Mark Gallant
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