Jovian subsidiary launches protected note

Date: Wednesday, September 22, 2004

Jovian Capital subsidiary Accumulus Management is launching the Accumulus TargetYield Protected Note Series 1. With 100% capital protection by National Bank of Canada, the note has the potential to deliver investors an 8% compounded annual return if redeemed at mid-term by the bank, or an unlimited potential return if held to maturity, the firm says. Portfolio management will be split, with Leon Frazer & Associates managing the 60% equity portion of the note and the remaining 40% invested in income trusts, managed by Felcom Management. The note is 100% RSP eligible and is open for investment from September 20, 2004, to November 11, 2004.