Power Financial Issues Shares in March 2003

Power Financial Corporation issued $250 million of non-cumulative first preferred shares on March 11, 2003. The underwriting syndicate was led by BMO Nesbitt Burns Inc.

Power Financial was represented by in-house counsel Edward Johnson and Jeannine Robitaille, and by Michael Sharp, Eric Moncik, Catherine Stephen and Kym Zelinski of Blake, Cassels & Graydon LLP. Norman Steinberg, Renaud Coulombe, Steve Malas, Luc Boucher and Jean Setlakwe (corporate and securities) and Guy Fortin (tax) of Ogilvy Renault acted for the underwriting syndicate.

Lawyer(s)

Eric Moncik Michael W. Sharp Kym Zelinski Renaud Coulombe Guy Fortin Catherine A. Stephen Norman M. Steinberg Luc Boucher Steve Malas