TSE To Focus On Core Equity Business - Trade station business will be well-served by Canadian vendors

The Board of Governors of the TSE has made a decision not to pursue the trading station business. This decision is part of our overall effort to focus on providing the best, most cost-effective services possible. Our first priority is to provide a quality market for all our customers. The strategic decision not to offer the TOREX Trading Station Release 3 will allow us to focus on our core strengths. We are confident that our members' trading station needs will be met by a number of technology providers who currently offer, or are in the process of developing, STAMP compliant trading devices. Of course, we remain committed to providing a fast, reliable, cost effective trading engine and expanding direct access to it via the STAMP protocol. 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.