ASC Staff Allege Illegal Distribution of Securities of Astris Energy Inc.

    CALGARY, Dec. 24 /CNW/ - The Alberta Securities Commission (ASC) has
issued a Notice of Hearing against TSS Management Corp., Taylor Made
Management Corp., Sidney John Reisner and Gregory Daniel MacPherson for the
illegal trading and distribution of securities of Astris Energy Inc.
    ASC staff allege that between 2003 and 2005, Taylor Corp. and MacPherson
violated Alberta securities laws when they sold approximately 250,000 shares
of Astris to TSS and Reisner. According to ASC staff, TSS and Reisner also
violated Alberta securities laws by then selling the Astris shares to
investors, five of whom were Alberta residents.
    An appearance to set a date for the hearing will be held on February 1,
2008 at 9:30 am in the ASC Hearing Room, 6th Floor, 300 - 5 Avenue SW,
Calgary, Alberta.
    A copy of the Notice of Hearing can be found 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: Mark Dickey, Senior
Communications Advisor, (403) 297-4481,; For Investor
Inquiries: ASC Public Inquiries Toll Free 1-877-355-4488

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