ONE-YEAR SUSPENSION ORDER AGAINST GERALD HENRY TURCOTTE

Released on August 23, 1996

The Saskatchewan Securities Commission today announced that the
registration of Gerald Henry Turcotte of Comox, British Columbia,
formerly of Regina, has been suspended for a one-year period commencing
August 21, 1996. The commission further ordered Turcotte to pay the
costs of the hearing, which lead to the suspension of his registration,
in the amount of $1,787.50.

Prior to May 23, 1996, Turcotte was registered to trade in mutual funds
in Saskatchewan. The commission issued a cease trade order against
Turcotte on May 23, 1996 because of allegations that he had been named
as executor of an elderly client's will and also as a beneficiary of
the client's estate. The commission issued the cease trade order
because these allegations raised questions about Turcotte's suitability
for continued registration.

The commission held a hearing on August 21, 1996 to determine whether
it was in the public interest to suspend Turcotte's registration.
After hearing the evidence presented by Turcotte and commission staff,
the commission rendered its decision to suspend Turcotte's license for
one year. A written decision will follow shortly.

"It is not acceptable practice for a registered salesperson to assist a
client in drafting a will," stated Patti Pacholek, legal counsel for
the commission. "This should be done by the client's legal counsel.

"The prime responsibility of a registered salesperson is to advise his
client on investment matters. The salesperson must always act in the
client's best interest and ensure he does not put himself into conflict
of interest situations."

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For more information contact:

Dean Murrison
Deputy Director, Legal
Saskatchewan Securities Commission
Regina
Phone: (306) 787-5645