Westaim Corp V.WED

Alternate Symbol(s): WEDXF

Financial Services Asset Management

The Westaim Corporation is a Canadian investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. The Company invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Its strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long term. Its investments include significant interests in Arena and the Arena FINCOs. The Arena FINCOs are private companies which include specialty finance companies that primarily purchase fundamental-based, asset-oriented credit and other investments for their own account. Arena consists of two main business lines: Arena Investors and Arena Institutional Services (AIS). Arena Investors operates as an investment manager.

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Westaim Corp

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Post by rusted1on Dec 23, 2005 11:53am

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Post# 10073793

IR&PP

Dear _______ Thank you for your email. iFire’s pilot facility’s remains on track and on budget. It is anticipated that the line will be fully operational by the end of 2005. Westaim is committed to disclosing any material information to shareholders in a fair and timely manner and an announcement regarding the pilot facility will be made at an appropriate time. Regards, Gillian Gillian McArdle Investor Relations The Westaim Corporation

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