TSE Announces New President And CEO

The Board of Governors of The Toronto Stock Exchange (TSE) is pleased to announce the appointment of the Exchange's new President and CEO, Ms. Barbara G. Stymiest, effective October 12, 1999. Ms. Stymiest was previously Executive Vice President and Chief Financial Officer at Nesbitt Burns and brings more than 20 years of diverse business and industry experience to the TSE. She has served on the TSE Board of Governors for six years, the last two as Chair. "We are delighted that Barbara has accepted the position. She brings strong leadership and people skills backed by an entrepreneurial business style. We believe Barbara will make a very meaningful contribution to the future growth and success of the TSE - a challenging task in our highly competitive global capital market place," said Daniel Sullivan, Chair of the TSE. "I am excited and look forward to taking up the helm at the TSE. I have had the opportunity to follow the TSE closely over many years, particularly during my tenure as a Governor and as Chair of the Exchange. I have a profound sense of urgency in helping to secure a strong senior equities market at the heart of a robust Canadian market system," Ms. Stymiest said. "There are many challenges that the TSE faces and that is why I accepted the position. It is an extremely exciting time to be part of a changing global capital market system. As a member of the Board, I helped shape the Exchange's vision and it will be immensely rewarding to ensure we deliver on it. I am also looking forward to continuing to work with the TSE's many stakeholders including staff," she added. The Board's selection committee spent more than four months meeting with prospective candidates from around the world. The TSE Board was assisted in the comprehensive search process by the consulting firm, Illsey Bourbonnais. The TSE's selection committee included: TSE Chair, Daniel Sullivan, TSE Vice Chair, Wayne Fox, Governors Paul Bates and Robert Farquharson, and Public Governor, Diana Bennett Gale. The Board subsequently unanimously endorsed the recommendation of the selection committee. The fully automated Toronto Stock Exchange consistently ranks as one of the world's top exchanges and is Canada's premier market for senior equities, accounting for approximately 90% of all equity trading in Canada. In 1998, more than 26 billion shares traded, worth more than $490 billion - about $2 billion a day in share transactions. With a proud 147-year history at the heart of the Canadian economy, the TSE continues to provide Canadian and international investors with a well-regulated, fair and accessible marketplace.