Canaccord Supports Restructuring of Asset Backed Commercial Paper Market and Discloses Balance

    VANCOUVER, Aug. 16 /CNW/ - Canaccord supports the restructuring proposal
announced this morning to provide liquidity for the Canadian non-bank
asset-backed commercial paper (ABCP) market. Canaccord believes that this
agreement represents the best opportunity to prevent an adverse liquidity
event and will preserve the maximum value of these AAA rated assets.
    In addition, Canaccord announces that out of its total cash position of
approximately $345 million, it is currently holding $32 million worth of
non-bank ABCP "R-1 (high)" or "AAA" rated instruments that currently have
limited liquidity. The remainder of the cash position on the balance sheet is
composed of cash and government issued treasury bills.


    Through its principal subsidiaries, Canaccord Capital Inc. (TSX & AIM:
CCI) is a leading independent, full-service investment dealer in Canada with
capital markets operations in the United Kingdom and the United States of
America. Canaccord is publicly traded on both the Toronto Stock Exchange and
AIM, a market operated by the London Stock Exchange. Canaccord has operations
in two of the principal segments of the securities industry: private client
services and capital markets. Together, these operations offer a wide range of
complementary investment products, brokerage services and investment banking
services to Canaccord's private, institutional and corporate clients.
Canaccord has approximately 1,673 employees worldwide in 30 offices, including
23 Private Client Services offices located across Canada. Canaccord Adams, the
international capital markets division, has operations in Toronto, London,
Boston, Vancouver, New York, Calgary, Montreal, San Francisco, Houston and

For further information:

For further information: For investor relations inquiries contact:
Katherine Young, Vice President, Investor Relations, Phone: (604) 643-7013,
Email:; London Media: Bobby Morse or Ben Willey,
Buchanan Communications (London), Phone: 44 (0) 207 466 5000, Email:; North America Media: Scott Davidson, Managing
Director, Global Head of Marketing & Communications, Phone: (416) 869-3875,
Email:; Nominated Adviser and broker: Ben
Money-Coutts, Managing Director, Landsbanki Securities (UK) Limited, Phone: 44
(0) 207 426 9586, Email:

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