WAJAX LIMITED MEMORANDUM
DATE:  December 18, 2000

TO:  All Wajax Employees   CC: Walter Fox, Chris Desjardins
FROM: : Doug Ball
Subject: Pension Plan Info message

Late on Friday you may have received an email from some retired employees under the subject heading: Pension Plan Info

The information in the document is incorrect in many areas and unfortunately may have had the effect of upsetting many employees who just completed communication sessions and sign-up to the new plan and conversion options from the old plan.

We respect the right to freely express an opinion but object to the approach taken by the authors of the circulated document. These individuals did not bother to check their facts with management and as a result information in the document is either wrong or misleading  In addition they have inappropriately used Wajax resources in disseminating damaging material to our employees.

Rest assured employees have and will be treated fairly and with dignity both now and in the future.

Many employees have been approaching management with questions concerning the truth of the claims made by these retired employees.  We wanted to quickly send out this e-mail to generally calm your concerns.

We will follow up later this week with a more complete response.

Doug Ball

Senior Vice President, Human Resources

Wajax Limited

Note: This memorandum has been stored under the Corporate Aft Public Folders > Bulletins > Corporate > Human Resources folder for future reference. Please do not store this message in your mailbox.