Pinetree Capital Ltd.

Diversified investment, financial advisory and merchant banking firm.

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Message: Genuity upgrades PNP to BUY.

Rating changed from buy to hold:

Subject: Analyst Rating Change Notice

An analyst rating or target price change has occurred for stocks in your portfolio.

Stock Security Description Source Date Previous Rating Current Rating Previous Target Price Current Target Price
PNP PINETREE CAP CORP NEW Genuity Capital Markets 03/06/2009 BUY HOLD 2.25 2.6

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