Sprott Asset Management Adds Precious Metals Industry Expert John Embry To Its Team Of Investment Specialists

Sprott Asset Management Adds Precious Metals Industry Expert John Embry To Its Team Of Investment Specialists

Business Editors

TORONTO–(BUSINESS WIRE)–Feb. 13, 2003

Eric Sprott, Chief Executive Officer of Sprott Asset Management Inc. (SAM) is pleased to announce the appointment of John Embry to the position of President of SAM effective March 2003. John Embry was lead portfolio manager of the Royal Precious Metals Fund and co-manager of the Royal Balanced Fund, Royal Canadian Equity Fund and Royal Global Resources Sector Fund.

We are thrilled about the addition of such an outstanding and prominent Canadian investment specialist to our team and are confident in John’s abilities to bring forth new and exciting gold initiatives to our firm and our portfolios.

Mr. Embry, an industry expert in precious metals, has researched the gold sector for over thirty years and has accumulated industry experience as a portfolio management specialist since 1963. Using his expertise, Mr. Embry will have full management authority over the Sprott Gold and Precious Minerals Fund and will play an instrumental role in corporate and investment policy of the firm, pending regulatory approval.

John Embry began his investment career at a major insurance company, Great West Life, as a stock selection analyst and portfolio manager. He then became Vice President of Pension Investments for the entire firm. After 23 years with the company, John became partner with United Bond and Share, the investment counseling firm acquired by Royal Bank in 1987. He graduated from the University of Manitoba with a Bachelor of Commerce degree.

Going forward, SAM hopes to take a leadership role in encouraging Canadians to increase their involvement and exposure to the precious minerals sector by way of investing in equities of companies directly or indirectly involved in the exploration, mining, production or distribution of gold and precious minerals and by investing directly in physical precious metals and minerals. Mr. Embry will lead this initiative.

Toronto based Sprott Asset Management Inc. is a private company with over $1.3 billion in assets under management primarily for institutions, endowments and high net worth individuals. Sprott Asset Management Inc. is the investment manager of the Sprott Gold and Precious Minerals Fund, Sprott Canadian Equity Fund, Sprott Bull/Bear RSP Fund, Sprott

Hedge Fund LP and Sprott Hedge Fund LP II.

COPYRIGHT 2003 Business Wire

COPYRIGHT 2008 Gale, Cengage Learning