TSE Announces Year-End Trading Hours

At its meeting this week, the Toronto Stock Exchange Board approved a 1 p.m. Eastern Time closing for Friday, December 31, 1999. TSE Senior Vice President and Chief Financial Officer Adam Conyers said, "The TSE is showing prudent management practices. The change in hours allows securities firms to make an early start on processing year-end transactions." The TSE will reopen again for trading on Tuesday, January 4, 2000. As for the TSE's own Y2K readiness, Mr. Conyers said, "All of the TSE's mission critical systems, including trading and market information systems are ready for the year 2000. The Exchange has been successfully testing trading systems with member firms and third parties in our dedicated Y2K environment since September 1998. Three independent reviews by experts monitoring the TSE's Y2K initiative have confirmed the Exchange's progress. These are some of the reasons why, at the TSE, we are confident that January 4, 2000 will be just another trading day." Other holiday closing information to make note of-the TSE will close at 1 p.m. Eastern Time on Friday, December 24, 1999. The Exchange will remain closed both Monday, December 27, 1999 and Tuesday, December 28, 1999 for Christmas and Boxing Day holidays. The last trading day for investors to take 1999 stock settlement is December 24, 1999. 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.