Canaccord Adams Limited constitutes Canaccord’s UK geographic segment. Canaccord Adams Inc. and Canaccord Capital Corporation (USA), Inc. constitute Canaccord’s US geographic segment. Canaccord Adams is the brand used for the division of Canaccord Capital Corporation engaged in capital markets activities in Canada, for Canaccord Adams Limited in the US, and Canaccord Adams Inc. in the UK.
| (1) Source: | Financial Post Data Group as of March 31, 2007. Canaccord Adams' figure also includes transactions from the UK and US operations. |