iPerform files preliminary prospectus in all provinces of Canada for an initial public offering

Date: Friday, March 15, 2002

iPerform announced on Friday, March 15 that it has filed a preliminary prospectus in all provinces of Canada for an initial public offering of units of iPerform Strategic Partners Hedge Fund, a closed-end investment trust. A syndicate of investment dealers led by Canaccord Capital Corporation and CIBC World Markets Inc. have been retained as agents. The Fund's primary investment objective is to achieve capital appreciation while managing risk through the use of a diversified hedged equity investment program. The Fund will pursue its investment objectives by allocating its assets across a diversified portfolio using, initially, four distinct long/short equity hedge styles. Initial investment advisors for the Fund will include: Hillsdale Investment Management Inc. (40%) Sprott Asset Management Inc. (30%), Global Asset Management (USA) Inc. (15%) and Gabelli Securities International Limited (15%). Key features of the fund include a low $5,000 investment minimum, 100% RRSP eligibility and a fairly shortened six year term.