Media Advisory - How Investors can Protect Themselves from Fraud

    Investment Counsel Association of Canada (ICAC) Board Director and
    Spokesperson for Quebec, James Heward, Available for Interviews

    MONTREAL, July 17 /CNW Telbec/ - Norbourg, Madoff, Stanford and now Earl
Jones... Several fraudulent financial service providers have been exposed in
recent times.
    The key question is: What can investors do to protect themselves from
fraud?
    The Investment Counsel Association of Canada (ICAC)'s mission is to
advocate the highest standards of unbiased portfolio management in the
interest of investors. The ICAC has created an "investment firm selection
checklist" and also provides detailed information on fraud prevention online
at www.investmentcounsel.org.

    Key considerations include:

    - Is the individual/firm registered with the Autorité des marchés
      financiers (AMF), or other provincial regulatory commissions (for
      example: Ontario Securities Commission)? And if so, exactly which
      services are authorized?
    - Does the individual/firm use an independent custodian, for example: a
      chartered bank, to hold client assets?
    - What are advisors' credentials/qualifications?
    - Potential "Red Flag": Any individual/firm guaranteeing a high rate of
      return at zero or low risk.
    - Has the firm been audited and to what level of compliance?

    James Heward is an ICAC Board Director and spokesperson for Quebec. With
more than 25 years of industry experience, James is also President of C.F.G.
Heward Investment Management Ltd., a firm with more than $700 million under
management, founded in 1981. With outside directorships and non-family stake
holders, C.F.G. Heward is registered with the AMF and comparable regulatory
commissions in Ontario, British Columbia, Alberta and New Brunswick. James is
also part of the third generation of Hewards to work in investment management,
a legacy that started with his grandfather who entered the business before the
stock market crash of 1929 and went on to prosper despite the many challenges
of the 1930s. James Heward's experience, credentials and family heritage give
him a unique perspective and make him exceptionally well-suited to comment on
the current situation and to offer advice to investors.

    About the Investment Counsel Association of Canada (ICAC)

    The ICAC is the representative organization for investment counsel and
portfolio managers in Canada. Members are from across Canada and are comprised
of both large and small investment management firms managing Canadians'
pensions and retirement savings. ICAC was established in 1952 and its current
members are responsible for managing in excess of $700 billion of client
assets. Member firms are only in the business of managing investments for
clients in keeping with each client's needs, objectives and risk.
    To schedule an interview with James Heward, please contact: Mark Lowe,
PRagmatic Communications, Tel: (514) 499-9632, Mobile: (514) 576-2519, E-mail:
mark.lowe@pragcom.com.

For further information: Katie Walmsley, President, ICAC, (416)
504-1118, Mobile: (416)-560-9419, kwalmsley@investmentcounsel.org