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IPC Financial Network Inc. Reports April 2004 Counsel Mutual Fund Sales

May 4, 2004 -- TORONTO, ONTARIO--IPC Financial Network Inc. ("IPC") is pleased to report April net sales of its asset management division, Counsel Wealth Management, were $33.6 million for the month and $139.7 million for the calendar year. Total assets under management at April 30, 2004 were $1.28 billion.

IPC Financial Network Inc. is an integrated wealth management company focused on providing Canadians with the best in financial products, services and advice to help them achieve their financial dreams. IPC has developed a strategy that marries the needs of the planners with that of the company. IPC's intent is to be the premier choice among financial planners who are dedicated to serving the needs of their clients.

IPC trades on the TSX Venture Exchange under stock symbol "IPC". The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

For Further Information, Please Contact:

IPC Financial Network Inc.
Steve Meehan
Chief Executive Officer
(905) 212-9799
(905) 212-9675 (FAX)
smeehan@ipcfn.com

or

Counsel Wealth Management
John Croce
President
(905) 212-9799
(905) 212-9798 (FAX)
jcroce@ipcc.ca

Disclaimer: The information contained herein is for AB, BC, MB, NB, NS, NL, ON, PEI, QC and SK residents only and does not constitute an offer to sell or solicit sales in any other Canadian or foreign jurisdictions.