Press Release June 01, 2001 The DISR Unveils New Securities Registration Program Washington, DC – Today the District of Columbia Department of Insurance and Securities Regulation (DISR) began requiring securities offerings sold in the District of Columbia to be registered with the Securities Bureau of DISR. The registration procedures for these offerings are designed to give investors full and fair disclosure of the offerings, including material risks associated with the investments.  “The implementation of the Securities Act of 2000, enacted last year by the D.C. Council, establishes the necessary mechanisms to govern and regulate securities offerings. This will protect prospective consumers in the District of Columbia and bring the District in line with other jurisdictions,” said Lawrence H. Mirel, D.C. Insurance and Securities Commissioner. The District of Columbia will now join securities administrators in Maryland, Virginia and other neighboring states in joint processing of some securities issues that are offered to investors in the region. Several categories of small offerings not registered with the SEC must now be registered with DISR. Under the Securities Act of 2000, “federal covered” securities, and those covered by certain statutory exemptions may comply with the requirements with a simple notice filing procedure. The Securities Bureau of DISR will begin electronic processing of securities offerings with a leading edge securities registration system. This new system is capable of receiving electronic transmission of forms, payment of fees, and tracking and registration of securities offerings. For a copy of the securities registration regulation, visit the DISR website at www.disr.washingtondc.gov. The DC Department of Insurance and Securities Regulation (DISR) has two missions, (1) to provide fair, efficient and fast regulatory supervision of the insurance and securities businesses for the protection of the people of the District of Columbia, and (2) to create conditions that will retain and attract national and international insurance and other financial businesses to the District.