CED-OR CORPORATION

WHEREAS:

(A) By Order No. 5166 (the "Order") of The Manitoba Securities Commission (the "Commission") dated September 18, 2006, issued under section 148(1) of The Securities Act (Manitoba) (the "Act"), trading in the securities of Ced-Or Corporation (the "Issuer") was directed to cease forthwith for a period of fifteen days from September 18, 2006 until October 2, 2006 for the failure of the Issuer to file with the Commission a copy of its financial statements for the year ended August 31, 2005 as required by National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”) (the "Financial Statements");

(B) A copy of the Financial Statements has not yet been filed with the Commission;

(C) On the basis of the foregoing, I am of the opinion that it is in the public interest that the direction to cease trading in the securities of the Issuer set out in the Order should be extended until such time as the Issuer complies with the requirements of NI 51-102.

I HEREBY ORDER under a delegation to me by the Commission under subsection 4(1) of the Act of the powers in that behalf:

1. THAT, under section 148(1) of the Act, the direction to cease trading in the securities of the Issuer set out in the Order is hereby extended until such time as:

(a) the Issuer becomes current in its filings with the Commission under
NI 51-102 and pays all outstanding fees to the Commission; and

(b) the Issuer submits a written request to the Commission to have this order revoked.