Launch of Financial Fitness Contest

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Young Nova Scotians are encouraged to get "financially fit" by taking part in an interactive, online contest this February.

The contest, sponsored by the Canadian Securities Administrators and co-ordinated locally by the Nova Scotia Securities Commission runs from Monday, Feb. 4 to Friday, Feb. 29. Youth aged 15 to 21 can play games, take a quiz, try interactive simulations, and get financial tips to learn the importance of saving and investing money for the future.

Thirteen entries, one from each province and territory, will be randomly selected from eligible quiz participants to win a $750 scholarship.

In 2007, nearly 1,400 young people participated and registered to win the contest, which aims to make smart money management cool for an increasingly web-savvy generation.

"Young people are often more keen than you would think to learn about saving and investing, especially at an age where they hold their first part-time or summer jobs, and are trying to save for an education," said Natalie MacLellan, investor education officer with the Nova Scotia Securities Commission.

The contest features exciting interactive games such as Slapshot Shopping, where players are given $200 of virtual money to purchase a number of necessities and luxuries. The game uses humour and Canada's love affair with hockey, to teach the importance of balancing financial needs versus wants. Other games and warm-ups include The Tradeoffs, an overview of different investment types, A Little Goes a Long Way, a compound interest simulator, and Budget Breakaway, a student-focused budget calculator.

The quiz features questions and facts about budgeting, saving and investing, in a format directly focused on the experience of students.

Teachers are encouraged to use the challenge as a fun and informative learning tool. They can download teachers' resource materials off the web site and enter a contest for a chance to win gift certificates or a $1,000 grand prize.

The financial fitness contest is available online at www.financialfitnesschallenge.ca .

The Canadian Securities Administrators is a council of securities regulators that co-ordinate and harmonize regulation for Canadian capital markets. Its mandate is to protect investors from unfair or fraudulent practices through regulation of the securities industry. Part of this protection is educating investors about the risk, responsibilities and rewards of investing.

As regulator for the securities industry in Nova Scotia, the Nova Scotia Securities Commission works to protect investors from practices and activities that tend to undermine investor confidence in the fairness and efficiency of capital markets. Part of the Nova Scotia Securities Commission mandate is to improve the financial literacy of youth.

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FOR BROADCAST USE:

     Young Nova Scotians are encouraged to get financially fit

by taking part in an interactive, online contest this February.

The contest, co-ordinated locally by the Nova Scotia

Securities Commission runs from February 4th to February 29th.

Youth aged 15 to 21 are invited to play games, take a quiz, try

interactive simulations, and get financial tips to learn the

importance of saving and investing money for their future.

     The contest aims to make smart money management cool for an

increasingly web-savvy generation. Teachers are encouraged to

use the challenge as a fun and informative learning tool. It is

available at w-w-w dot financial fitness challenge dot c-a .

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Media Contact: Natalie MacLellan
              Nova Scotia Securities Commission
              902-424-8586
              E-mail: maclelnj@gov.ns.ca