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February 15, 2005
For immediate release

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

Office of the Attorney General

The Securities Office has attached additional Terms and Conditions under subsection 3(4) of the Securities Act on Portus Alternative Asset Management Inc. (“Portus”), a registered Portfolio Manager/Investment Counsel. The Terms and Conditions prevent Portus from paying out, redeeming or otherwise returning investment funds to clients (except with respect to pre-authorized periodic withdrawals on behalf of clients). The Temporary Order also precludes Portus from trading in securities (again, except with respect to pre-authorized periodic withdrawals on behalf of clients).

The Temporary Order also places terms and conditions on the PEI registration of Mr. Boaz Manor, a counselling officer with Portus.

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.

To view the previous Terms and Conditions visit the PEI Securities Office Web site at www.gov.pe.ca/securities/ (click on What’s New).

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Media Contact: Mark Gallant
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