Order: In the Matter of Martin Shefsky

WHEREAS on May 27, 1999, the Ontario Securities Commission (the "Commission") issueda notice of hearing pursuant to section 127(1) of the Securities Act (the "Act") in respect of MartinShefsky ("Shefsky");

AND WHEREAS Shefsky entered into a settlement agreement dated June 2, 1999 (the"Settlement Agreement") in which he agreed to a proposed settlement of the proceeding, subject tothe 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 Shefsky 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 June 2, 1999, attached to this Order, is herebyapproved; and

(2) pursuant to clause 6 of subsection 127(1) of the Act, Shefsky is hereby reprimanded.

June 8th, 1999.

"Howard I. Wetston"

"G.P.H. Vernon"

"R. Stephen Paddon"