Added Capital Inc. T.NFC

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[montecarlo]

Northern offers to acquire six million shares of Proprietary 12/14/04 (TSX: NFC) TORONTO, Dec 14, 2004 (Canada NewsWire via COMTEX) -- Northern Financial Corporation (TSX: NFC) ("Northern") today announced a variation and extension of its offer (the "Northern Offer") to acquire a maximum of 6,000,000 common shares of Proprietary Industries Inc. ("PPI&qu ot;) payable in common shares of Northern. Northern will issue 30 Northern shares for each PPI share. The volume weighted average trading price for Northern shares for the 60 trading day period ended December 13, 2004 is approximately $.0333. Northern currently owns 5,897,000 PPI shares representing 9.9% of the total issued common shares. On December 6, 2004 PPI Acquisition Corp. ("PAC") announced that it had acquired 35,336,231 PPI shares representing 59.06% of the total issued PPI shares. PAC and Northern therefore own a total of 41,233,231 PPI shares representing approximately 69% of the issued PPI shares. If Northern acquires 6,000,000 PPI shares, Northern will own approximately 19.9% of the issued PPI shares. The Northern Offer is not conditional on any minimum number of PPI shares being deposited in the Northern Offer. Northern is mailing a Notice of Variation to the PPI shareholders. Northern has extended its Northern Offer to December 30, 2004 at 5:00 p.m. (Toronto time). About Northern: 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. %SEDAR: 00004119E VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: https://www.newswire.ca/en/releases/orgDisplay.cgi?okey=67803 For further information: please contact Ann Krallisch, Director of Business Development, Northern Securities Inc., [phone], Fax: [phone], e-mail: akrallisch(at)northernsi.com News release via Canada NewsWire, Toronto 416-863-9350 Copyright (C) 2004 CNW, All rights reserved