Order: In the Matter of Michael McGuigan

WHEREAS on September 9, 1999, the Ontario Securities Commission (the "Commission")issued a notice of hearing pursuant to section 127(1) of the Securities Act (the "Act") in respect ofMichael McGuigan ("McGuigan");

AND WHEREAS McGuigan entered into a settlement agreement dated September 16, 1999(the "Settlement Agreement") in which he agreed to a proposed settlement of the proceeding, subjectto the approval of the Commission;

AND UPON reviewing the Settlement Agreement and the statement of allegations of Staffof the Commission, and upon hearing submissions from counsel for McGuigan and from Staff of theCommission;

AND WHEREAS the Commission is of the opinion that it is in the public interest to makethis Order;

IT IS ORDERED THAT:

(1) the Settlement Agreement dated September 16, 1999, attached to this Order, is herebyapproved; and

(2) pursuant to clause 2 of subsection 127(1) of the Act, McGuigan is prohibited from tradingin securities for a period of two years from the date of this Order except that McGuigan ispermitted to sell securities of which he is the beneficial owner as of the date of this Order.

September 23^rd, 1999.

"J. A. Geller"     "Howard I. Wetston"