Amendments to the Policy on Normal Course Issuer Bids and Debt Substantial Issuer Bids (Appendix F of the Company Manual) - Toronto Stock Exchange (TSX Inc.)

On August 2, 2002 Toronto Stock Exchange ("TSX") originally published for comment amendments to Parts V, VI and VII of TSX Company Manual (the "Manual"), including changes to TSX's policy on normal course issuer bids ("NCIBs"), debt substantial issuer bids ("DSIBs") and other bids through the facilities of TSX. Additional amendments to the Manual were published for comment on January 2, 2004. On November 5, 2004, certain amendments to the Manual were finalized with an effective date of January 1, 2005, other than the NCIB and DSIB policy which was republished for comment at that time. As a result of comments received on the Amendments, further changes have been made to the NCIB and DSIB policy amendments (the "Amendments"), and the Amendments are therefore being republished in Chapter 13 of this Bulletin.