ASC seeking permanent market ban against Florida based University Lab Technologies

    CALGARY, Dec. 31 /CNW/ - The Alberta Securities Commission (ASC) is
seeking to permanently ban Florida based University Lab Technologies Inc.,
University Health Industries Inc., and George Theodoropoulos (a.k.a. George
Theodore) (the Respondents) from the Alberta capital market.
    In a hearing scheduled for January 22, 2008, ASC staff is seeking a
reciprocal order in Alberta similar to that imposed by the New Brunswick
Securities Commission (NBSC) on October 9, 2007. In that order, the NBSC
permanently banned the Respondents from trading in securities or relying on
any exemptions under New Brunswick securities laws.
    ASC staff contend in a Notice of Hearing issued on December 19, 2007,
that the ban is also needed in Alberta due to unregistered sales activities of
the Respondents in Alberta earlier this year. The Respondents are already the
subjects of a June 22, 2007, Interim Cease Trade Order prohibiting them from,
among other things, trading in the securities of University Lab Technologies.
    Copies of the Notice of Hearing outlining the allegations in their
entirety and the Interim Cease Trade Order are available on the ASC website at

    The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and efficient
capital market in Alberta and to protect investors. As a member of the
Canadian Securities Administrators, the ASC works to improve, coordinate and
harmonize the regulation of Canada's capital markets.

For further information:

For further information: For Media Inquiries: Tamera Van Brunt,
Director, Communications & Investor Education, (403) 297-2664,; For Investor Inquiries: ASC Public Inquiries, Toll Free

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