Power Financial Issues Shares in July 2002

Power Financial Corporation, a Canadian holding company, issued $150 million of non-cumulative preferred shares on July 16, 2002.

Edward Johnson, in-house counsel, Power Financial, and Ernest McNee, Michael Sharp, Eric Moncik and Kym Zelinski of Blake, Cassels & Graydon LLP represented Power Financial. Norman Steinberg, Guy Fortin, Renaud Coulombe, and Michelle Setlakwe of Ogilvy Renault acted for the underwriting syndicate led by BMO Nesbitt Burns Inc.