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News Releases News release 03-45 TSX GROUP SPONSORSHIP CONTINUES MOMENTUM FOR THE DIRECTORS COLLEGE HAMILTON, ON, September 12, 2003 - The TSX Group of Companies, a cornerstone of Canada's financial system, is the latest national sponsor of The Directors College*. In addition, the Institute for Chartered Secretaries and Administrators (ICSA) has endorsed The Directors College, and renowned governance expert Dr. Jay Lorsch of the Harvard Business School has joined the faculty. A joint venture of The Conference Board of Canada and the DeGroote School of Business at McMaster University, The Directors College is a comprehensive professional development and certification program for corporate directors. It holds its first course in November and participants who complete the curriculum will obtain a Chartered Director* (C.Dir)* certification. TSX Group operations include the Toronto Stock Exchange, TSX Venture Exchange, TSX Markets, TSX Datalinx and TSX Technologies. Together it collectively manages all aspects of Canada's senior and junior capital markets. It also provides Canadian trading and data to the global financial community. "Our sponsorship of The Directors College is consistent with a continuing belief in strong governance practices in every area of corporate Canada. What is unique about The Directors College is that the certification it promises to program graduates demands constant renewal and this is an important first in Canada," said Barbara Stymiest, Chief Executive Officer of the TSX Group. "We are encouraged to see organizations like McMaster and the Conference Board responding to the progressive evolution in our corporate governance landscape in a way that helps ensure the vitality of the capital markets." TSX joins Ernst & Young and the Society of Management Accountants of Canada (CMA Canada) as national sponsors. The Institute for Chartered Secretaries and Administrators (ICSA), which focuses on corporate governance and granting a designation for corporate secretaries, said: "Given the key role of directors and corporate secretaries in applying proper boardroom practices, corporations need to ensure that these individuals meet a professional standard," said Lynn Beauregard, Executive Director of Chartered Secretaries Canada. "The Directors College curriculum covers all the formal regulatory issues for directors and also addresses the informal skills of building effective and appropriate relationships with senior management. We see significant benefits to this program and ICSA is pleased to endorse it." The Directors College brings a unique approach to director education. Its curriculum addresses the formal rules and requirements, but also emphasizes the "soft side" of director performance - board dynamics, board behaviour, and the interplay between the board and management. It is independent of the corporate director community, and has a diverse faculty. The program also explores the relationship between governance and corporate social responsibility. "The broad support and sponsorship The Directors College is receiving from leading advocates of corporate governance education is very encouraging," said Mark Schacter, Director of Governance and Corporate Social Responsibility at the Conference Board. "It confirms our view that The Directors College is responding to an important need in corporate Canada." Dr. Jay Lorsch, the Louis Kirstein Professor of Human Relations at the Harvard Business School, is a recent addition to the faculty. Dr. Lorsch is the author of more than a dozen books on corporate governance and board performance. He has taught in all of Harvard Business School's educational programs, and has worked as a consultant with a diverse selection of corporate clients. "Dr. Lorsch is one of the world's leading authorities on corporate governance and board performance," said Chris Bart, Director of the Management of Innovation and New Technology Research Centre at the DeGroote School of Business. "Faculty of this calibre will provide an insightful learning environment for corporate directors." Spaces are filling for both the November program in Niagara-on-the-Lake, Ontario and the next offering in February 2004. Information about registering for The Directors College may be obtained at www.thedirectorscollege.com. -30- *"The Directors College", "C.Dir", and "Chartered Director" are official marks of McMaster University. FOR MORE INFORMATION: Joe Barbera, University Advancement, McMaster University Steve Kee, Director of Media Relations and Publicity, TSX Group of Companies, Lynn Beauregard, Executive Director, ICSA,
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