INDIVIDUAL AND unite in a club MEM...

INDIVIDUAL AND unite in a club MEMBERS OF THE CANADIAN Shareowners Association ("CSA") join the Dividend Reinvestment Plan ("DRP") for any of the companies contained onward the Enrolment Form (on pages 9 and 10) You simply consummate the Form and send in your "initial investment" for a security plus the one-time set-up charge of $12 The CSA then tosss you an Information Circular detailing all of a DRP's feature and an Authorization Card to sign and get back When you return the Card, your initial investment is used by the agency of the DRP Administrator to acquire shares of the selecteded security either in the marketplace or at buying from the company. Subsequently you can throw "optional investments" to the DRP Administrator to purchase more shares.

Why are there three lists of DRPs?

The principal differences between disposes of DRPs are described below. dispose "A" DRPs are those sponsored and administered according to the Canadian Shareowners Association ("Shareowner-Sponsored DRPs") collections "B" and "C" DRPs are sponsored at the company ("Company-Sponsored DRPs") and are typically administered by way of a stock transfer agent.

a. Participation. At the time of writing, clump "A" DRPs aye available and nothing else to members resident in Ontario. Exemption applications have been submitted to security regulators in other jurisdictions. collections "B" and "C" DRPs are now available to CSA members resident everywhere in Canada excepting the Northwest Territories and the Yukon

In the incident that a participant's CSA membership lapses (eg death, fits in arrears, etc.), shares and any accumulated cash in a collection "A" DRP are distributed in accordance with the acts described in the Information Circular. Continuing participation in clusters "B" and "C" DRPs is unaffected from CSA membership.

b. Initial investments are different. assign places to "A" DRPs allow an initial investment of as little as $50 and as a great deal as $2,500.

Alternatively, you may deposit a share certificate into a form into groups "A" DRP--or have shares transferred electronically from a brokerage or other account. To do with equal reason when completing the Form, write in the word "Certificate" (or "Transfer" as applicable) in the space provided for indicating the size of the initial investment. Mail the Form and the set-up pay to the CSA. You will receive specific directions for forwarding the certificate (or transferring the shares) to the CSA DRP Investors' Trust Account.

Securities in collections "B" & "C" typically permit an initial investment limited to: the rife price of one share of stock (round to the nearest dollar) plus $10 For example, if a stock's passing from hand to hand price is $25, your initial investment is $35 (i.e. $25 + $10)

c circulation of purchase. Participants make initial and optional investments using Canadian dollars for all assign places to "A" (including U.S. stocks) and form into groups "B" DRPs. For Group "C" DRP participants must launch U.S. dollars for initial and optional investments.

d User remunerations All Group "A" DRPs have user feuds to recover costs; the principal commons being: $12 to set-up a DRP account; $4 to make an optional cash investment; $8 to take a bribe for shares; $12 to transfer shares to an RRSP or other account; 2% of reinvested dividends; and, 5 cent by share.

Only a few arrange "B" & "C" DRPs have user give a fee tos beyond the $12 set-up feud (see details in the DRP's Information Circular). However, extra bank charges may be incurred forward US dollar cheques drawn forward Canadian accounts for Group "C" DRP As well Medallion signature guarantees may be required for share transfers and certificates involving cluster "C" DRPs.

How big and by what means frequent are "optional investments"?

Typically, DRP allow minimum and maximum optional cash investments upon a monthly or quarterly basis. For example, all collection "A" DRPs have a monthly minimum of $50 and a monthly maximum of $2500 You decide to what degree often and how much to invest. In addition, Pre-Authorized Investing is available for collection "A" DRPs. (Please see nearest page).

What about the safe-keeping of cash and securities?

Cheques for all DRP share purchases are deposited into the CSA's Investors" Trust Account maintained at a Canadian chartered bank.

In the case of assign places to "A" DRPs, funds are transferred to the CSA's Investors" Trust Account at a brokerage firm holded by a Canadian chartered bank. Shares are purchased between the sides of the broker and held in the name of the bank's nominee at the applicable Canadian or U Depository for Securities. Shares are registered in a participant's name forward the CSA's register of shareowners.

For cluster "B" and "C" DRPs, supplys are forwarded to the company's stock transfer agent who purchases shares either by the agency of a broker, or from the company. Typically, shares are held by the agency of the agent and are registered in a participant's name in succession the agent's register of shareowners.

How do I know by what means many shares I own?

A cumulative DRP account statement (showing confessed shares to four decimal places) is sent to participants in dispose "A" DRPs after every initial and optional investment; sales; and, at year close Details about the reinvestment of dividends for each DRP are reported in each issue of Canadian Shareowner. seek information from the Information Circular to order statements following each dividend reinvestment.