SECURITIES COMMISSION OF THE BAHAMAS

PRESS RELEASE - FOR IMMEDIATE RELEASE

RE: THE SECURITIES COMMISSION OF THE BAHAMAS EXECUTIVES ATTEND COSRA CONFERENCE

March 14, 2005

The Chairman of the Securities Commission of the Bahamas, Mr. Calvin B. Knowles and the Acting Executive Director, Mr. Hillary H. Deveaux will attend the 2005 Conference of the Counsel of Securities Regulators of the Americas (COSRA) being held in Quito, Ecuador, March 16-19, 2005.  Countries from The Caribbean, North, South and Central America make up the membership of COSRA.  COSRA provides a forum for mutual cooperation and communication to enhance the efforts of each member country to develop and foster the growth of sound securities markets and encourage fair and equitable dealings that are fair to all investors

The forum also provides its members with the opportunity to explore issues related to:

i)      Developing and strengthening securities market;

ii)     Improving their efficiency;

iii)    Coordinating the enforcement of securities regulation internationally;

        and

iv)     Implementing common standards.

The Conference will feature discussions and presentations on various issues including the IOSCO Multilateral Memorandum of Understanding.  Further, the US SEC will report on Strengthening Financial Markets against Financial Fraud and details on Global Financial Reporting Standards for Small and Medium-sized Entities will be given.

For more information please contact: Mr. Hillary Deveaux

Telephone: (242) 356-6291/2

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