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Gold/Mining/Energy : Starpoint Gold -- Ignore unavailable to you. Want to Upgrade?

To: john mcknight who wrote (2142)	2/23/1999 7:15:00 PM
From: william bell	Read Replies (2) \| Respond to of 2378

STARPOINT GOLDFIELDS INC. 2323C Dollarton Highway North Vancouver, B.C. V7H 1B2 Canada email: sts@Starpoint.com Tel: 604-929-7182 Fax: 604-929-7152 * * * N E W S R E L E A S E - February 23, 1999 * * * STS:VSE On February 16, 1999, Chairman of Global Securities, Art Smolensky, released a statement relating to Starpoint's counterclaim and the expert report supporting it by Shikaze Ralston, Chartered Accountants, but denying one of the conclusions of that report, namely that Global employed other VSE-member firms as jitneys to execute short sales on price downticks. Exchange rules prohibit such sales. Starpoint's experts stand by the conclusions of their report of Global's trading and short-position records, obtained under Court order, namely that: i. Global engaged in a pattern of trading and other actions and omissions that were detrimental to Starpoint and its ability to raise capital ii. Global, its associates, or its clients earned more than $200,000 from such trading iii. Global's pattern of trading and other actions and omissions appears inconsistent with the rules and policies of the Vancouver Stock Exchange (VSE) as well as with the B.C. Securities Act (BSCA). The above report, provided from Global's own records (obtained by way of a Court order), supports Starpoint's belief that Global had engaged in a pattern of trading activity which attempted to both weaken Starpoint's position in the marketplace and to restrict Starpoint's ability to complete the required financing. The central conclusion of the report supports Starpoint's allegations as outlined in the counterclaim. ON BEHALF OF THE BOARD OF DIRECTORS STARPOINT GOLDFIELDS INC. ___________________________ Harry Z. Bristman, Chairman & C.E.O. The Vancouver Stock Exchange has neither approved nor disapproved of the contents herein.