Big 8 Split Completes Offering

Big 8 Split Inc. completed its initial public offering of preferred shares and capital shares on September 3, 2003. The company raised $215.6 million for investment in a portfolio of common shares of Bank of Montreal, the Bank of Nova Scotia, CIBC, RBC, TD Bank, Great-West Lifeco Inc., Manulife Financial Corporation and Sun Life Financial Services of Canada.

The syndicate of agents was led by TD Securities inc. and Scotia Captial Inc., and included BMO Nesbitt Burns inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Desjardins Securities inc., Dundee Securities Corporation, First Associates Investments Inc., Raymond James Limited and Trilon Securities Corporation.

Big 8 and the agents were represented by Osler, Hoskin & Harcourt LLP, with a team that included Andrew Aziz, Rick Fullerton and Lorraine Lynds (corporate) and Dan MacIntosh and Tim Hughes (tax).