Added Capital Inc. T.NFC

Proprietary Industries Inc. - Settlement

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Proprietary Industries Inc. Quick Quote: PPI 0.73 (+0.08) Proprietary Industries Inc. - Settlement Agreed to in United Industrial Services litigation 12/7/04 (Estate of Ben Christensen, et al v. Proprietary Industries Inc., et al) (PPI) TSX/SWX CALGARY, Dec 07, 2004 (Canada NewsWire via COMTEX) -- Proprietary Industries Inc. ("PPI") announced today that it had reached a settlement with the plaintiff in the United Industrial Services litigation. Subject to the completion of appropriate settlement documentation, PPI will pay the plaintiff the amount of $1.79 million in exchange for a full and final release and discharge. The plaintiff was seeking damages of approximately $3 million plus interest and costs. PPI will provide for this liability in its September 30, 2004 financial statements. About Proprietary: Proprietary is based in Calgary, Alberta and listed on the Toronto and Swiss Stock Exchanges trading under the symbol PPI. Proprietary is a principal merchant bank. Forward-looking statements: This document contains statements about expected or anticipated future events and financial results that are forward- looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Corporation's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995. The Toronto Stock Exchange and the SWX Swiss Exchange have neither approved nor disapproved the information contained herein. VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: https://www.newswire.ca/en/releases/orgDisplay.cgi?okey=62011 For further information: Mr. Graham Garner, Executive Vice President,Tel: [phone], Fax: [phone], Website: www.proprietaryinc.com,E-Mail: info(at)proprietaryinc.com;To request a free copy of this organization's annual report, please go tohttps://www.newswire.ca and click on reports(at)cnw.