(December 1 – 16:25 ET) – The offer made by ING Canada Inc. for 100% of Equisure Financial Network Inc.’s common shares has been successful. The offer to purchase all of the outstanding common shares expired on November 24, 2000 and the necessary terms and conditions of the offer have been satisfied or waived.

Approximately 18.9 million of the common shares of Equisure were validly tendered under the offer and the Offeror has taken up and accepted for purchase such common shares at a price of C$7 per share, representing approximately 97.3% of the total number of common shares of Equisure outstanding, other than shares held by ING prior to making the offer.

ING now holds a total of approximately 22.3 million common shares, representing approximately 97.7% of the outstanding common shares of Equisure.

Payment for the shares taken up under the offer is expected to be made by no later than Dec. 4, 2000. Equisure expects that the ING will purchase the balance of the issued and outstanding common shares of Equisure.
-IE Staff