Toronto Stock Exchange Facilitates Share Buybacks

In August 2002 and November 2004, the Toronto Stock Exchange (the "TSX") published for comment proposed changes to its rules on normal course issuer bids ("NCIBs"). On October 21, 2005, the TSX published the third request for comment on proposed amendments (the "Proposed Amendments") to such rules. The following is a summary of the Proposed Amendments. If adopted, these changes will facilitate share buybacks and the use by issuers of accelerated share repurchase programs, forward purchase contracts, call options and put options on the issuer's own shares. We expect the Proposed Amendments will be adopted substantially in the form proposed by early 2006 and will include grandfathering provisions for issuers who are in the course of an NCIB at the time the Proposed Amendments become effective.