Paradigm becomes Portus

Date: Monday, May 17, 2004

Paradigm Asset Management Inc. (Paradigm) announced today the completion of its acquisition of Portus Investment Inc. (Portus), a successful Montreal-based firm specializing in portfolio risk management.<br>
This acquisition is an important step towards becoming the national leader in the alternative investment marketplace. Portus provides us with an entry point into Quebec, making us truly national and strengthens the platform from which we currently deliver alternative investment solutions.<br>
Another powerful asset which we gain from the acquisition of Portus, is its name. In Latin – Portus, meaning “safe harbour”, strongly reflects both our business model and the low risk nature of our investment offerings. Given the broad and generic meaning of the word “Paradigm”, and to further bring definition to our corporate identity, Paradigm will adopt the Portus name effective immediately for our operations across the country.<br>
Launching today and closing on August 31, 2004 is BancNote Trust – Series VIII from Portus