Manitoba Securities Commission Warns Public of Pension Plan Investment Scheme

News Release

For Immediate Release

Winnipeg, The Manitoba Securities Commission is warning the public to be on the lookout for a scheme involving the conversion of locked in pension monies into shares and loans.

The Commission has issued an order under The Securities Act cease trading securities of FUTRONICS INC. The order also prohibits JOHN FRIESEN, also known as JOHN "THRASHER" FRIESEN from trading in securities. This order is in effect until March 7, 2002, unless extended by further order of the Commission.

Staff of the Commission have received information that alleges FRIESEN has been promoting the trading of securities of FUTRONICS INC. through an arrangement described as a swap. In exchange for an investor's holdings in a locked in retirement account an investor receives shares of Futronics and a loan. The investor in effect receives a loan of his or her own money.

Any individual who has been approached or has invested in this scheme or any salesperson that has been approached to assist in the buying or selling of the security is encouraged to contact Jason Roy, Investigator with the Commission at 945-4116.

Contact:

Ainsley Cunningham, Education and Information Coordinator The Manitoba Securities Commission (204) 945-4733 aicunningh@gov.mb.ca