Added Capital Inc. T.NFC

NFC NEWS 592,000 more ppi shares

[montecarlo]

Northern announces market purchases of proprietary shares 21:04 EDT Friday, October 29, 2004 (TSX: NFC) TORONTO, Oct. 29 /CNW/ - Northern Financial Corporation (TSX:NFC) ("Northern") today announced, as required under applicable securities legislation, its purchase on October 29, 2004 of 592,000 common shares of Proprietary Industries Inc. ("PPI") through the facilities of the Toronto Stock Exchange ("TSX"). Northern commenced its offer (the "Offer") to acquire all the issued PPI shares on September 27, 2004. The highest price that Northern paid for the PPI shares purchased on October 29, 2004 was $0.65 per share. The total number of PPI shares acquired by Northern through the facilities of the TSX since September 27, 2004 is 2,501,000. The average price Northern has paid per PPI share acquired through the facilities of the TSX since September 27, 2004 is approximately $0.67. As at the close of business of the TSX today, Northern owns 7,314,000 common shares of PPI, representing approximately 12.2% of the total issued PPI shares. Northern Financial Corporation wholly owns Northern Securities, a full service brokerage firm that provides financial advisory services to retail and institutional clients and investment banking services to small capitalization companies. /For further information: please contact, Ann Krallisch, Director of Business Development, Northern Securities Inc., 150 York St, Suite 1814, Box 35, Toronto, ON, M5H 3S5, [phone], Fax: [phone], e-mail: akrallisch(at)northernsi.com/ © Canada Newswire Ltd.