British Columbia Plays Big Role In TSX Venture Exchange Success In 2003 - Almost Half Of TSX Venture Exchange Listings Are Based On British Columbia

In remarks today to the Vancouver Club, TSX Venture Exchange President Linda Hohol said, "The exchange - I guess I should say our exchange, because British Columbians are behind almost half of the companies listed on it - had a very good year." She went on to say, "Our composite index was up by 63 per cent last year in heavy trading volume. With more than 45 per cent of TSX Venture companies based here in B.C., it means that B.C. companies like TIR, Stornoway and many others had a great year. Our success is British Columbia's success and we hope that the trends that drove last year's markets will continue in 2004."

In 2003, there were 2,276 financing deals on TSX Venture that raised a total of $2.38 billion, a new record and an increase of 65.3% from 2002. The average size of the financings increased by 40% from $0.75 million to $1.05 million and the mining sector led the way in financing in 2003, raising a total of $1.28 billion or represents 54% of the total financing. This was an increase of 124.3% comparing to the $572.6 million raised in 2002.

B.C. led the way for new listings on TSX Venture Exchange accounting for 32% of the new listings. Alberta followed with 26%, then Quebec with 21%.

A copy of Ms. Hohol's remarks and the 2003 TSX Venture Exchange statistical summary are available on tsx.com.

Click here for a draft of the speech.