Press Releases

Guaranteed Absolute Return Notes extension

ONE Financial Announces Extension of Offering of ONE Financial Guaranteed Absolute Return Notes™

Toronto, Ontario - September 16, 2002

ONE Financial is pleased to announce the extension of the offering period for the ONE Financial Guaranteed Absolute Return Notes™ to October 1, 2002.

The notes are 100% principal protected and mature in December 2008. The guarantee will be provided by Société Générale, one of Europe's largest banks. The return on the notes is linked to the positive performance of a multi-advisor, multi-strategy portfolio of approximately 20 experienced hedge fund managers.

Often referred to as 'alternative' or 'non-traditional' investments, hedge funds have been in existence for over fifty years, but are recently attracting more attention because of their potential to provide positive returns in all market environments. Hedge funds represent an additional asset class with generally low correlation to stock and bond investments.

The notes are intended to make exposure to hedge funds more widely available, by way of a minimum initial investment of $2,000. Traditionally, the common minimum investment level in either single or multi-manager hedge funds has been in the $150,000 range. The notes also offer a tax-efficiency by avoiding any annual distributions and deferring taxes until the note is sold or matures.

The notes are RRSP eligible and are not considered foreign property. Liquidity is maintained through a weekly secondary market to be quoted by Société Générale under normal market conditions.

For information regarding the notes, please contact your financial advisor.

ONE Financial is a specialized investment products firm focused on providing Canadian investors with innovative wealth management solutions. Preservation of capital combined with consistent enhanced growth is at the heart of ONE Financial's approach.