Deloitte & Touche Inc. was appointed as the Trustee under a Notice of Intention to File a Proposal on October 30, 2002 regarding Services and International. The companies made successive applications to the Court of Queen's Bench of Alberta (the "Court") to extend the period to file a proposal to creditors. The period expires on April 11, 2003.

On January 23, 2003 Deloitte & Touche Inc. was appointed by the Court as the Interim Receiver of Services, International and Cyprus.

On February 27, 2003, the Court granted an Order Approving Sale and Vesting Title in the companies' assets to the purchaser Computershare Investor Services Inc.

On March 6, 2003, Deloitte & Touche Cyprus was privately appointed as Receiver over the Cyprus assets by the secured creditor of Cyprus.

The Interim Receiver has scheduled an application to the Court for the initial distribution of the companies' assets to the primary secured and priority creditors, approval of the Interim Statement of Receipts and Disbursements and payment of the fees and disbursements of the Interim Receiver. Attached please find the Notice of Motion, Affidavit supporting the distribution and the supporting documentation.

On March 27, 2003, the Court granted an Order assigning Services and International into bankruptcy. Attached please find the companies Statement of Affairs, Notice of Bankruptcy, Proof of Claim form and Proxy.

The first meeting of creditors for International and Services will take place on April 14, 2003 at 9:30 am and 10:00 am respectively at the Calgary offices of Deloitte & Touche Inc., located at 3000, 700 – 2 Street SW Calgary Alberta.

The purpose of the first meeting of creditors is to consider the affairs of the bankrupt, to affirm the appointment of the trustee in bankruptcy or substitute another, to appoint inspectors for the estate and to give such directions to the trustee with reference to the administration of the bankruptcy estate. In order to be able to vote on the appointments, a creditor must have lodged with the trustee a valid proof of claim prior to the commencement of the meeting of creditors. The lodging of the proof of claim by facsimile is permissible. The creditor does not need to be in attendance at the meeting but may vote by completing the enclosed form.  This may also be sent by facsimile.

The Bankruptcy Trustee’s Preliminary Report to Creditors will be posted no later than April 11, 2003.