TORONTO - The Ontario Securities Commission announced today that it has commenced proceedings against ATI Technologies Inc., K.Y. Ho, Betty Ho, Jo-Anne Chang, David Stone, Mary de la Torre, Alan Rae and Sally Daub.

ATI is alleged to have failed to disclose material information on a timely basis and made a misleading statement to Staff.

K.Y. Ho, Betty Ho, Jo-Anne Chang, David Stone, Mary de la Torre, and Alan Rae are alleged to have committed insider trading contrary to Ontario securities law, resulting in more than $7.9 million in profits or avoided losses and triggering significant tax benefits. Staff of the OSC have given notice of the intent to seek disgorgement of any amounts attained as a result of non-compliance with Ontario's securities law.

Sally Daub is alleged to have made a misleading statement to Staff. The first appearance is scheduled for February 14, 2003 at 9:30 a.m. in the small hearing room, 17th floor, 20 Queen Street West. Copies of the Notice of Hearing and Statement of Allegations are available at www.osc.gov.on.ca or from the Commission, 19th Floor, 20 Queen Street West, Toronto, Ontario.