http://www.cuminggillespie.com

An amended order from the court on the HMS Financial case has been posted.

The Instaloans National Class Action claim is now completed. All individuals who have submitted claims have either received their compensation or have been denied their claim pursuant to the review of the Claims Administrator under the guidelines set out by the Ontario Superior Court of Justice.

No new claims can be processed through the Class Action.

All individuals who have or may have a perspective claim are free to proceed as against the Defendants exclusive of the Class Action in any jurisdiction in Canada.

Cuming & Gillespie Lawyers will not be acting on behalf of any individual claimants in this matter.

This e-mail is to update you on developments since our August 7, 2007 update on the status of this litigation.

As of this update, we do not have a decision from the Court with regard to the Certification of our action as a Class Action.

We continue to work with counsel in the United States to have the HMS investor funds frozen in the First National Bank of San Diego transferred to the Alberta Courts.

We are also working with counsel in Indiana to recover funds which were invested by Garth Bailey, and which we believe are HMS investor funds.

We continue to prepare and submit Assurance Fund Applications for those clients who responded that they would like us to do so on their behalf. To date we have submitted over 60 applications. To date the Law Society has responded with requests for further information, which we are now responding to in advance for all new applications. No other timeline for response has yet been
given.

On November 23, 2007 an application was heard with respect to a request by the Alberta Lawyers’ Insurance Association (”ALIA”) and the Canadian Lawyers’ Insurance Association (”CLIA”) to have a referee appointed with respect to the review and production of the Defendant Lawyers Bailey and Carlson’s Trust Records, at the Plaintiffs’ cost. The application by ALIA/CLIA was dismissed,
however, ALIA/CLIA are permitted to use the referee they were proposing at their cost. ALIA/CLIA was given 60 days to make a decision on whether or not they wished to proceed with their referee. Further, 60 days after November 23, all documents requested from Bailey and Carlson will be released to Plaintiffs’ counsel, unless ALIA/CLIA have elected to pay for and invoke the referee process.

Please note that Mr. Bill McNally of McNally Cuming Raymaker has retired. With his retirement, the firm of McNally Cuming Raymaker has changed its name to Cuming & Gillespie. The new website containing the information on our action is
www.cuminggillespie.com/practice-areas/class-action/securities/
hms-financial-inc.html.

Also, please remember that we try our best to keep you up to date on how things are proceeding and that we will provide you with updates as there is news to update you with. If you do not receive an update for several months, this means that there is nothing newsworthy to share with you.

Yours truly,

Lynn Dechaine (for Graham McLennan)
Paralegal - Litigation
McLennan Ross LLP
Toll Free: 1-800-567-9200
Direct Line: (780) 482-9281
Fax: (780) 482-9100

Our co-counsel Mr. Michael Hook and his litigation partners in the United States brought the first U.S. Accutane claim to court and were awarded 2.6 million dollars in damages. Cuming & Gillespie Lawyers, Alberta Injury Lawyers, is national co-counsel on behalf of all Canadians injured by Accutane use in Canada.

Cuming & Gillespie and their litigation co-counsel are happy to announce that a partial settlement of U.S. claims has been reached with the manufacturers of the Guidant Heart Devices.

The Canadian class action is proceeding in Ontario with representatives from each jurisdiction, including Alberta. Cuming & Gillespie Lawyers is representing the Alberta class in the matter.

A Certification Motion has been scheduled for December 17, 2007 in Toronto for a two day period.

Please contact Cuming & Gillespie Lawyers in the event that you or someone you know could potentially be a class member with respect to the Guidant Pacemakers or Defibrillators class actions.

Further to our update of July 11, 2007, Cuming & Gillespie can confirm that we continue to work with a national counsel consortium on this class action proceeding in the Ontario Superior Court. We anticipate that further case management conferences and carriage motions may occur prior to the end of 2007. It is anticipated that the Ontario application to certify the matter as a class action will occur in 2008.

Cuming & Gillespie, Alberta Injury Lawyers, will continue to update our clients with respect to the Vioxx claims.

On behalf of twenty individual investors, Cuming & Gillespie, Alberta Injury Lawyers, reached a confidential settlement well into the millions of dollars with a Defendant Brokerage and Broker in a claim involving alleged improper investing, non-disclosure and non-compliance with a major investment. If you have suffered a loss due to the negligence of a Brokerage, Broker or securities dealer, please contact Cuming & Gillespie.

McLENNAN ROSS LLP / CUMING& GILLESPIE

This is to update you on developments since our April 26, 2006 update on the status of this litigation.

As of this update, we do not have a decision from the Court with regard to the Certification of our action as a Class Action.

We continue to work with counsel in the United States to have the HMS investor funds frozen in the First National Bank of San Diego transferred to the Alberta Courts.

We are also working with counsel in Indiana to recover funds which were invested by Garth Bailey, and which we believe are HMS investor funds.

On July 25, 2007 the Court approved our application for settlement with Garth S. Bailey, Garth S. Bailey Professional Corporation, Katherine Rodrigue-Bailey and her company Kirby Audit Services Inc. In summary, the terms of the Settlement are as follows:

• Judgment against Garth S. Bailey and Garth S. Bailey Professional Corporation for an amount to be determined;
• Garth S. Bailey and Garth S. Bailey Professional Corporation will disclose all trust records in their possession as they relate to the operation of the HMS Scheme to Plaintiff Class Counsel;
• Garth S. Bailey and Garth S. Bailey Professional Corporation shall provide full cooperation, without compensation, to the Plaintiffs with respect to the operation of HMS and related Defendant corporations, and with respect to any details regarding information as to the possible whereabouts of HMS investor funds;
• Payment of $27,504.00 by Katherine Rodrigue-Bailey and Kirby Audit Services Inc.

While the settlement amount may seem minimal, Mr. and Mrs. Bailey’s assets are minimal. The purpose of settlement with Mr. Bailey is to obtain his full co-operation in assisting us with pursuing other, more realistic avenues of recovery. Mr. Bailey has already sworn affidavits in support of our applications in San Diego and Indiana with respect to transferring investor funds to the Alberta Courts.

Yours truly,

Lynn Dechaine (for Graham McLennan)
Paralegal - Litigation
McLennan Ross LLP
Toll Free: 1-800-567-9200
Direct Line: (780) 482-9281
Fax: (780) 482-9100

Cuming & Gillespie can confirm that we are working with Docken and Company at 640, 840 – 6 Avenue S.W., and Marshall Attorneys at 2400, 144 – 4th Avenue S.W., both in Calgary, Alberta with respect to the Alberta portion of the proposed Vioxx national class action.

The national claim for Vioxx includes counsel from Sutts Strosberg at 600 Westcourt Place, Windsor Ontario, Siskind Cromarty Ivey & Dowler at 680 Waterloo Street, London, Ontario, Klein Lyons at 1220, 65 Queen Street West, Toronto, Ontario, Rochon Geneva at 121 Richmond Street West, Toronto, Ontario, and other law firms are proceeding through the Superior Court of Ontario. Our group is seeking carriage of the matter on a national level and we will keep prospective claimants apprised with further updates in due course.

It is anticipated that carriage motion with an alternate competing counsel group will occur by the end of 2007.

Cuming & Gillespie is working in conjunction with Roy Elliot Kim O’Connor of Toronto, Ontario with respect to these claims. Our counsel group is aligned with Tim O’Brien of Levin Papantonio Law Firm at 316 South Baylen Street, Suite 100, Pensacola, Florida and Mike Ryan of Krupnick Law at 700 S.E. Third Avenue, Suite 100, Fort Lauderdale, Florida, together with their respective multi-district litigation groups in the United States of America.

Cuming & Gillespie is currently seeking new Fosamax claimants who have suffered osteonecrosis of the jaw. Please contact James Cuming at Cuming & Gillespie for further information.