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<SEC-DOCUMENT>0001062993-10-003281.txt : 20101012
<SEC-HEADER>0001062993-10-003281.hdr.sgml : 20101011
<ACCEPTANCE-DATETIME>20101008194424
ACCESSION NUMBER:		0001062993-10-003281
CONFORMED SUBMISSION TYPE:	F-10/A
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20101012
DATE AS OF CHANGE:		20101008

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TASEKO MINES LTD
		CENTRAL INDEX KEY:			0000878518
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		F-10/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-169469
		FILM NUMBER:		101116994

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1020
		STREET 2:		800 WEST PENDER STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2V6
		BUSINESS PHONE:		604-684-6365

	MAIL ADDRESS:	
		STREET 1:		SUITE 1020
		STREET 2:		800 WEST PENDER STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2V6
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-10/A
<SEQUENCE>1
<FILENAME>formf10a.htm
<DESCRIPTION>FORM F-10/A
<TEXT>
<HTML>
<HEAD>
   <TITLE>Taseko Mines Limited - Form F-10/A - Filed by newsfilecorp.com</TITLE>
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A><BR>
<TABLE
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  <TR vAlign=top>
    <TD align=center>As filed with the Securities and Exchange Commission on
      October 8, 2010 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right><B>Registration
      No. 333-169469 </B></TD></TR></TABLE>
<P align=center><B><FONT size=5>UNITED STATES </FONT><BR></B><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR>Washington, D.C. 20549
</B></P>
<P align=center><B>AMENDMENT NO. 1 </B></P>
<P align=center><B>TO </B></P>
<P align=center><B><FONT size=5>FORM F-10</FONT></B><B> <BR></B><B>REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933 </B></P>
<P align=center><B><FONT size=5>TASEKO MINES LIMITED </FONT><BR></B>(Exact name
of Registrant as specified in its charter) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B>British Columbia </B></TD>
    <TD align=center width="33%"><B>1040 </B></TD>
    <TD align=center width="33%"><B>Not Applicable </B></TD></TR>
  <TR vAlign=top>
    <TD align=center>(Province or other jurisdiction </TD>
    <TD align=center width="33%">(Primary Standard Industrial </TD>
    <TD align=center width="33%">(I.R.S. Employer </TD></TR>
  <TR vAlign=top>
    <TD align=center>of incorporation or organization) </TD>
    <TD align=center width="33%">Classification Code Number) </TD>
    <TD align=center width="33%">Identification Number) </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="33%"><B>905 West Pender Street, Suite 300 </B></TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="33%"><B>Vancouver, British Columbia </B></TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="33%"><B>Canada V6C 1L6 </B></TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="33%"><B>778 373 4550 </B></TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR>
    <TD align=center colSpan=3>(Address and telephone number of Registrant&#146;s
      principal executive offices)</TD></TR></TABLE>
<P align=center><B>Corporation Service Company <BR>Suite 400, 2711 Centerville
Road <BR>Wilmington, Delaware, USA 19808 <BR>Telephone: (800) 927-9800
<BR></B>(Name, address (including zip code) and telephone number (including area
code) of agent for service in the United States) </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="33%"><B>Copy to: </B></TD>
    <TD align=left width="33%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Russell Hallbauer, President &amp; CEO </B></TD>
    <TD align=center width="33%"><B>Bernhard Zinkhofer </B></TD>
    <TD align=center width="33%"><B>Daniel M. Miller </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Taseko Mines Limited </B></TD>
    <TD align=center width="33%"><B>Lang Michener LLP </B></TD>
    <TD align=center width="33%"><B>Dorsey &amp; Whitney LLP </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Suite 300, 905 West Pender Street </B></TD>
    <TD align=center width="33%"><B>1500 &#150; 1055 West Georgia Street </B></TD>
    <TD align=center width="33%"><B>Suite 1605 </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Vancouver, British Columbia </B></TD>
    <TD align=center width="33%"><B>Vancouver, British Columbia </B></TD>
    <TD align=center width="33%"><B>777 Dunsmuir Street </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><B>Canada V6C 1L6 </B></TD>
    <TD align=center width="33%"><B>Canada V6E 4N7 </B></TD>
    <TD align=center width="33%"><B>P.O. Box 10444, Pacific Centre </B></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=center width="33%"><B>Vancouver, B.C. </B></TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="33%">&nbsp; </TD>
    <TD align=center width="33%"><B>Canada V7Y 1K4 </B></TD></TR></TABLE>
<P align=justify>Approximate date of commencement of proposed sale of the
securities to the public: </P>
<P align=center><B>From time to time after this Registration Statement becomes
effective. </B></P>
<P align=center><B>Province of British Columbia, Canada </B></P>
<P align=center>(Principal jurisdiction regulating this offering) </P>
<P align=justify>It is proposed that this filing shall become effective (check
appropriate box below): </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >A. </TD>
    <TD align=left width="5%" >[&nbsp;&nbsp; ]</TD>
    <TD align=left width="90%">upon filing with the Commission, pursuant to
      Rule 467(a) (if in connection with an offering being made
      contemporaneously in the United States and Canada).
</TD></TR></TABLE><BR>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>B. </TD>
    <TD align=left width="5%">[X]&nbsp;</TD>
    <TD align=left width="90%">at some future date (check appropriate box
      below) </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left>1. </TD>
    <TD align=left width="5%">[&nbsp;&nbsp; ]</TD>
    <TD align=left width="85%">pursuant to Rule 467(b) on (<I>date</I>) at
      (<I>time</I>) (designate a time not sooner than 7 calendar days after
      filing). </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%"></TD>
    <TD align=left>2. </TD>
    <TD align=left width="5%">[&nbsp;&nbsp; ]</TD>
    <TD align=left width="85%">pursuant to Rule 467(b) on (<I>date</I>) at
      (<I>time</I>) (designate a time 7 calendar days or sooner after filing)
      because the securities regulatory authority in the review jurisdiction has
      issued a receipt or notification of clearance on (<I>date</I>). </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%"></TD>
    <TD align=left>3. </TD>
    <TD align=left width="5%">[X]</TD>
    <TD align=left width="85%">pursuant to Rule 467(b) as soon as practicable
      after notification of the Commission by the Registrant or the Canadian
      securities regulatory authority of the review jurisdiction that a receipt
      or notification of clearance has been issued with respect hereto. </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp; </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%">&nbsp;</TD>
    <TD align=left>4. </TD>
    <TD align=left width="5%">[&nbsp;&nbsp; ]</TD>
    <TD align=left width="85%">after the filing of the next amendment to this
      Form (if preliminary material is being filed). </TD></TR></TABLE>
<P align=justify>If any of the securities being registered on this form are to
be offered on a delayed or continuous basis pursuant to the home jurisdiction&#146;s
shelf prospectus offering procedures, check the following box. [X]</P>
<P align=justify><B>The Registrant hereby amends this registration statement on
such date or dates as may be necessary to delay its effective date until the
registration statement shall become effective as provided in Rule 467 under the
Securities Act of 1933 or on such date as the Commission, acting pursuant to
Section 8(a) of the Act, may determine. </B></P>
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<P align=center>I-1 </P>
<P align=center><B>PART I </B></P>
<P align=center><B>INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR
PURCHASERS </B></P>
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<P align=justify><I>No securities regulatory authority has expressed an opinion
about these securities and it is an offence to claim otherwise. This short form
base shelf prospectus constitutes a public offering of these securities only in
those jurisdictions where they may be lawfully offered for sale and therein only
by persons permitted to sell such securities.</I></P>
<P align=justify><B><I>Information has been incorporated by reference in this
prospectus from documents filed with the securities commissions or similar
authorities in Canada. </I></B><I>Copies of the documents incorporated herein by
reference may be obtained on request without charge from Taseko Mines Limited,
#300, 905 West Pender Street, Vancouver, British Columbia, V6C 1L6 (Telephone 778-373-4533) (Attn: the Secretary), and are also available electronically at
</I><I><U><FONT color=#0000ff>www.sedar.com</FONT></U></I><I>. </I></P>
<P align=center><B>SHORT FORM BASE SHELF PROSPECTUS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><U>New Issue</U> </TD>
    <TD align=right width="50%">October 8, 2010 </TD></TR></TABLE>
<P align=center><IMG src="part1x4x1.jpg" border=0 width="413" height="75"> </P>
<P align=center><B>$300,000,000</B> </P>
<P align=center><B>Common Shares <BR>Warrants <BR>Subscription Receipts
<BR>Units <BR>Debt Securities </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>This offering is made by a
foreign issuer that is permitted, under a multijurisdictional disclosure system
adopted by the United States, to prepare the Prospectus in accordance with
Canadian disclosure requirements. Prospective investors should be aware that
such requirements are different from those of the United States. Financial
statements included or incorporated herein have been prepared in accordance with
Canadian generally accepted accounting principles, and are subject to Canadian
auditing and auditor independence standards, and thus may not be comparable to
financial statements of United States companies.</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Prospective investors should
be aware that the acquisition of the Securities described herein may have tax
consequences both in the United States and Canada. Although the Company intends
to include in the applicable prospectus supplement a description of certain
income tax consequences to an investor acquiring any securities offered
thereunder, such consequences for investors who are resident in, or citizens of,
the United States may not be described fully therein. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The enforcement by investors
of civil liabilities under the federal securities laws of the United States may
be affected adversely by the fact that the Company is incorporated or organized
under the laws of a foreign country, that some or all of its officers and
directors may be residents of a foreign country, that some or all of the experts
named in the registration statement may be residents of a foreign country, and
that all or a substantial portion of the assets of the Company and said persons
may be located outside the United States.</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THESE SECURITIES HAVE NOT BEEN
APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION (THE &#147;SEC&#148;);
NOR HAS THE SEC PASSED UPON THE ACCURACY OR ADEQUACY OF THE PROSPECTUS. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</B> </P>
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<P align=center>- ii - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This short form base shelf
prospectus (the &#147;Prospectus&#148;) relates to the offering for sale of common shares
(the &#147;Common Shares&#148;), warrants (the &#147;Warrants&#148;), subscription receipts, debt
securities, or any combination of such securities (the &#147;Units&#148;) (all of the
foregoing, collectively, the &#147;Securities&#148;) by Taseko Mines Limited (the
&#147;Company&#148; or &#147;Taseko&#148;) from time to time, during the 25-month period that the
Prospectus, including any amendments hereto, remains effective, in one or more
series or issuances, with a total offering price of the Securities in the
aggregate, of up to $300,000,000. The Securities may be offered in amounts at
prices to be determined based on market conditions at the time of the sale and
set forth in an accompanying prospectus supplement. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s outstanding Common
Shares are listed for trading on the Toronto Stock Exchange (the &#147;TSX&#148;) under
the trading symbol &#147;TKO&#148; and on the NYSE Amex Equities Exchange (&#147;Amex&#148;) under
the trading symbol &#147;TGB&#148;. The closing price of the Company&#146;s Common Shares on
the TSX and Amex on October 7, 2010, the last trading day before the date of the
Prospectus, was $6.05 per Common Share and US$5.93 per Common Share,
respectively. <B>An investment in the Securities offered hereunder invokes a
high degree of risk. The risk factors identified under the heading </B>&#147;<B>Risk
Factors</B>&#148;<B> and elsewhere in the Prospectus should be carefully reviewed and
evaluated by prospective subscribers before purchasing the Securities being
offered hereunder. </B>See &#147;Risk Factors&#148;<B>. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All information permitted under
applicable securities legislation to be omitted from the Prospectus will be
contained in one or more prospectus supplements that will be delivered to
purchasers together with the Prospectus, except in cases where an exemption from
such delivery requirements have been obtained. Each prospectus supplement will
be incorporated by reference into the Prospectus for the purposes of applicable
securities legislation as of the date of the prospectus supplement and only for
the purposes of the distribution of the Securities to which the prospectus
supplement pertains. Investors should read the Prospectus and any applicable
prospectus supplement carefully before investing in the Company&#146;s
Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The specific terms of the
Securities with respect to a particular offering will be set out in the
applicable prospectus supplements and may include, where applicable: (i) in the
case of Common Shares, the number of Common Shares offered, the offering price
and any other specific terms; (ii) in the case of Warrants, the offering price,
the designation, number and terms of the Common Shares issuable upon exercise of
the Warrants, any procedures that will result in the adjustment of these
numbers, the exercise price, dates and periods of exercise, the currency in
which the Warrants are issued and any other specific terms; (iii) in the case of
subscription receipts, the number of subscription receipts being offered, the
offering price, the procedures for the exchange of the subscription receipts for
Common Shares or Warrants, as the case may be, and any other specific terms;
(iv) in the case of debt securities, the specific designation, aggregate
principal amount, the currency or the currency unit for the debt securities may
be purchased, the maturity, interest provisions, authorized denominations,
offering price, covenants, events of default, any terms for redemption or
retraction, any exchange or conversion terms, whether the debt is senior or
subordinated and any other terms specific to the debt securities being offered;
and (v) in the case of Units, the designation, number and terms of the Common
Shares, Warrants, subscription receipts or debt securities comprising the Units.
Where required by statute, regulation or policy, and where Securities are
offered in currencies other than Canadian dollars, appropriate disclosure of
foreign exchange rates applicable to the Securities will be included in the
prospectus supplement describing the Securities.<B> </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&rsquo;s Securities may be sold through underwriters or dealers or directly or through agents designated from time to time at amounts and prices and other terms determined by the Company.  In connection with any underwritten offering of Securities, the underwriters may over-allot or effect transactions which stabilize or maintain the market price of the Securities.  Such transactions, if commenced, may be discontinued at any time.  See &ldquo;Plan of Distribution&rdquo;. A prospectus supplement will set out the names of any underwriters, dealers or agents involved in the sale of the Securities, the amounts, if any, to be purchased by underwriters, the plan of distribution for the Securities, including the net proceeds the Company expects to receive from the sale of the Securities, if any, the amounts and prices at which the Securities are sold and the compensation of such underwriters, dealers or agents.</P>
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<P align=center>- iii - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No underwriter has been involved
in the preparation of the Prospectus or performed any review of the contents of
the Prospectus. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a foreign private
issuer under United States securities laws and is permitted, under a
multi-jurisdictional disclosure system adopted by the United States, to prepare
the Prospectus in accordance with Canadian disclosure requirements. Investors
should be aware that such requirements are different from those of the United
States. In particular, the Company has prepared its financial statements in
accordance with Canadian generally accepted accounting principles (&#147;Canadian
GAAP&#148;), and they are subject to Canadian auditing and auditor independence
standards. Thus, they may not be comparable to the financial statements of U.S.
companies (see the discussion under the heading, &#147;Note to United States Readers
Regarding Differences Between United States and Canadian Reporting Practices,&#148;
for more information). In addition, the disclosure in the Prospectus, including
the documents incorporated by reference herein, uses mineral resource
classification terms and contains mineral resource estimates that comply with
reporting standards in Canada that differ significantly from the requirements of
the U.S. Securities and Exchange Commission (the &#147;SEC&#148;). Accordingly, the
information contained in the Prospectus and the documents incorporated by
reference herein describing the Company&#146;s mineral deposits may not be comparable
to similar information made public by U.S. companies subject to the reporting
and disclosure requirements under the United States federal securities laws (see
the discussion under the heading, &#147;Cautionary Note to United States Investors
Regarding Estimates of Reserves and Measured, Indicated and Inferred Resources,&#148;
for more information). </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prospectus is part of a
registration statement on Form F-10 relating to the Securities that the Company
filed with the SEC. The Prospectus does not contain all of the information
contained in the registration statement, certain parts of which are omitted in
accordance with the rules and regulations of the SEC. Investors should refer to
the registration statement and the exhibits to the registration statement for
further information with respect to the Company and the Securities. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investors should rely only on the
information contained or incorporated by reference in the Prospectus and any
applicable prospectus supplement. The Company has not authorized anyone to
provide Investors with different or additional information. If anyone provides
Investors with different or additional information, Investors should not rely on
it. The Company is not making an offer to sell or seeking an offer to buy the
Securities in any jurisdiction where the offer or sale is not permitted.
Investors should assume that the information contained in the Prospectus and any
applicable prospectus supplement is accurate only as of the date on the front of
those documents and that information contained in any document incorporated by
reference is accurate only as of the date of that document, regardless of the
time of delivery of the Prospectus and any applicable prospectus supplement or
of any sale of the Company&#146;s securities. The Company&#146;s business, financial
condition, results of operations and prospects may have changed since those
dates. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market data and certain industry
forecasts used in the Prospectus and any applicable prospectus supplement and
the documents incorporated by reference in the Prospectus and any applicable
prospectus supplement were obtained from market research, publicly available
information and industry publications. The Company believes that these sources
are generally reliable, but the accuracy and completeness of this information is
not guaranteed. The Company has not independently verified this information, and
the Company does not make any representation as to the accuracy of this
information. </P>
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<P align=center>- iv - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the Prospectus and any
prospectus supplement, unless otherwise indicated, all dollar amounts are in
Canadian dollars. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The head office of the Company is
located at Suite 300 - 905 West Pender Street, Vancouver, British Columbia, V6C
1L6. The registered office of the Company is located at Suite 1500 &#150; 1055 West
Georgia Street, Vancouver, British Columbia V6E 4N7. </P>
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<P align=center>- iii - </P>
<P align=center><B>TABLE OF CONTENTS </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_9">DOCUMENTS
      INCORPORATED BY REFERENCE </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_9">1      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_10">FORWARD
      LOOKING STATEMENTS </A></TD>
    <TD align=right width="15%"><A
      href="#page_10">2      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_12">INTERPRETATION,
      CURRENCY AND EXCHANGE RATES AND GENERAL INFORMATION </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_12">4      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_12">CAUTIONARY
      NOTE TO UNITED STATES INVESTORS REGARDING ESTIMATES OF RESERVES AND
      MEASURED, INDICATED AND INFERRED RESOURCES </A></TD>
    <TD align=right width="15%"><A
      href="#page_12">4      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_13">NOTE
      TO UNITED STATES READERS REGARDING DIFFERENCES BETWEEN UNITED STATES AND
      CANADIAN REPORTING PRACTICES </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_13">5      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_14">ADDITIONAL
      INFORMATION </A></TD>
    <TD align=right width="15%"><A
      href="#page_14">6      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_15">ENFORCEABILITY
      OF CIVIL LIABILITIES BY U.S. INVESTORS </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_15">7      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_16">THE
      COMPANY </A></TD>
    <TD align=right width="15%"><A
      href="#page_16">8      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_21">USE
      OF PROCEEDS </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_21">13      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_21">CONSOLIDATED
      CAPITALIZATION </A></TD>
    <TD align=right width="15%"><A
      href="#page_21">13      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_21">PRIOR
      SALES </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_21">13      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_24">TRADING
      PRICE AND VOLUME </A></TD>
    <TD align=right width="15%"><A
      href="#page_24">16      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_25">PLAN
      OF DISTRIBUTION </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_25">17      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_26">DESCRIPTION
      OF SECURITIES </A></TD>
    <TD align=right width="15%"><A
      href="#page_26">18      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_42">RISK
      FACTORS </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_42">34      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_46">CANADIAN
      FEDERAL INCOME TAX CONSIDERATIONS </A></TD>
    <TD align=right width="15%"><A
      href="#page_46">38      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_46">MATERIAL
      U.S. FEDERAL INCOME TAX CONSIDERATIONS </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_46">38      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_46">MATERIAL
      CONTRACTS </A></TD>
    <TD align=right width="15%"><A
      href="#page_46">38      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_47">LEGAL
      MATTERS </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_47">39      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_47">AUDITORS,
      TRANSFER AGENT AND REGISTRAR </A></TD>
    <TD align=right width="15%"><A
      href="#page_47">39      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_47">DOCUMENTS
      FILED AS PART OF THE REGISTRATION STATEMENT </A></TD>
    <TD align=right width="15%" bgColor=#eeeeee><A
      href="#page_47">39      </A></TD>
  </TR></TABLE>
<BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>- 1 - </P>
<P align=center><B>DOCUMENTS INCORPORATED BY REFERENCE </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Information has been
incorporated by reference in the Prospectus from documents filed with the
securities commissions of the Provinces of British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, New Brunswick, Nova
Scotia and Prince Edward Island. </B>Copies of the documents incorporated herein
by reference may be obtained on request without charge from Taseko Mines
Limited, #300, 905 West Pender Street, Vancouver, British Columbia, V6C 1L6
(Telephone 778-373-4533) Attn: the Secretary, and are also available
electronically at <U><FONT color=#0000ff>www.sedar.com</FONT></U>. The Company&#146;s
filings through SEDAR are not incorporated by reference in the Prospectus except
as specifically set out herein. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the securities commission or similar regulatory authority in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, New Brunswick, Nova Scotia and Prince Edward Island, are specifically incorporated by reference into and, except where herein otherwise provided, form an integral part of, the Prospectus:</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <div align="justify">annual information form dated March 31, 2010 for the fiscal year ended
      December 31, 2009 (the &#147;Annual Information Form&#148;); <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">consolidated financial statements and the notes thereto for the fiscal
      periods ended December 31, 2009 and 2008 and September 30, 2007, together with
      the auditors&#146; report thereon and management&#146;s discussion and analysis for the
      year ended December 31, 2009; <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">unaudited interim consolidated financial statements and notes thereto for
      the three and six months ended June 30, 2010 and management&#146;s discussion and
      analysis for the three and six months ended June 30, 2010; <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">management information circular dated May 13, 2010 relating to the annual
      general meeting of shareholders held June 16, 2010;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">audited Supplementary Note entitled &#147;Reconciliation with United States
      Generally Accepted Accounting Principles&#148; for the year ended December 31,
      2009, the fifteen months ended December 31, 2008, and the year ended September
      30, 2007; and <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">unaudited Supplementary Note entitled &#147;Reconciliation with United States
      Generally Accepted Accounting Principles&#148; as at June 30, 2010, and for the
      three and six months ended June 30, 2010. </div>
  </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Material change reports (other
than confidential reports), business acquisition reports, interim financial
statements, all other documents of the type referred to above and any other
document of the type required by National Instrument 44-101 &#150; <I>Short Form
Prospectus Distributions</I> to be incorporated by reference in a short form
prospectus, filed by the Company with the securities commission or similar
regulatory authority in the Provinces of British Columbia, Alberta, Manitoba,
Ontario, Saskatchewan, Newfoundland and Labrador, New Brunswick, Nova Scotia and
Prince Edward Island after the date of the Prospectus and before completion or
withdrawal of the offering, will also be deemed to be incorporated by reference
into this prospectus. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent that any document
or information incorporated by reference into the Prospectus is included in any
report on Form 6-K, Form 40-F, Form 20-F, Form 10-K, Form 10-Q or Form 8-K (or
any respective successor form) that is filed with or furnished to
the SEC after the date of the Prospectus, such document or information shall be
deemed to be incorporated by reference as an exhibit to the registration
statement of which the Prospectus forms a part. In addition, the Company may
incorporate by reference into the Prospectus, or the registration statement of
which it forms a part, other information from documents that the Company files
with or furnishes to the SEC pursuant to Section 13(a) or 15(d) of the United
States Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), if and
to the extent expressly provided therein. </P>
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<P align=center>- 2 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All information permitted under applicable securities legislation to be omitted from the Prospectus will be contained in one or more prospectus supplements that will be delivered to purchasers together with the Prospectus, except in cases where an exemption from such delivery requirements has been obtained.  Each prospectus supplement will be incorporated by reference into the Prospectus for the purposes of applicable securities legislation as of the date of the prospectus supplement and only for the purpose of the distribution of the Securities to which the prospectus supplement pertains.  Investors should read the Prospectus and any applicable prospectus supplement carefully before investing in the Company&rsquo;s Securities. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Any statement contained in a
document incorporated or deemed to be incorporated by reference herein will be
deemed to be modified or superseded for the purposes of the Prospectus to the
extent that a statement contained herein or in any other subsequently filed
document that is also incorporated or is deemed to be incorporated by reference
herein modifies or supersedes such statement. The modifying or superseding
statement need not state that it has modified or superseded a prior statement or
include any other information set forth in the document that it modifies or
supersedes. The making of a modifying or superseding statement will not be
deemed an admission for any purpose that the modified or superseded statement,
when made, constituted a misrepresentation, an untrue statement of a material
fact or an omission to state a material fact that is required to be stated or
that is necessary to make a statement not misleading in light of the
circumstances in which it was made. Any statement so modified or superseded will
not be deemed, except as so modified or superseded, to constitute a part of the
Prospectus. </B></P>
<P align=center><B>FORWARD LOOKING STATEMENTS </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prospectus, including the
documents incorporated by reference, contain forward-looking statements and
forward-looking information (collectively referred to as &#147;forward-looking
statements&#148;) which may not be based on historical fact, including without
limitation statements regarding the Company&#146;s expectations in respect of future
financial position, business strategy, future production, reserve potential,
exploration drilling, exploitation activities, events or developments that the
Company expects to take place in the future, projected costs and plans and
objectives. Often, but not always, forward-looking statements can be identified
by the use of the words &#147;believes&#148;, &#147;may&#148;, &#147;plan&#148;, &#147;will&#148;, &#147;estimate&#148;,
&#147;scheduled&#148;, &#147;continue&#148;, &#147;anticipates&#148;, &#147;intends&#148;, &#147;expects&#148;, and similar
expressions.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such statements reflect the
Company&#146;s current views with respect to future events and are subject to risks
and uncertainties and are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company, are inherently
subject to significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors could cause the Company&#146;s actual
results, performance or achievements to be materially different from any future
results, performance, or achievements that may be expressed or implied by such
forward-looking statements, including, among others: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <div align="justify">delays or inability to successfully complete the environmental assessment
      review process; </div>
  </LI>
</UL>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>- 3 - </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <div align="justify">the potential for increase in the cash cost of production;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">lack of mineral reserves at the Harmony Project and Aley Project;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">the estimates of mineral resources is a subjective process, the accuracy
      of which is a function of the quantity and quality of available data and the
      assumptions made and judgment used in the engineering and geological
      interpretation, which may prove to be unreliable, and may be subject to
      revision based on various factors;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">fluctuation of metal prices and currency rates;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">uncertain project realization values;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">current global economic conditions;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">changes in mining legislation adversely affecting our operations;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">inability to obtain adequate financing on acceptable terms;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">inability to obtain necessary exploration and mining permits and comply
      with all government requirements including environmental, health and safety
      laws;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">inability to attract and retain key personnel; and
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">other risks detailed from time-to-time in the Company&#146;s quarterly filings,
      annual information forms, annual reports and annual filings with securities
      regulators, and those risks which are discussed under the heading &#147;Risk
      Factors&#148;. </div>
  </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such information is included,
among other places, in the Prospectus under the headings &#147;The Company&#148;, &#147;Use of
Proceeds&#148;, &#147;Risk Factors&#148; and in the annual information form under the heading
&#147;Description of Business&#148; and in the Management&#146;s Discussion and Analysis for
the year ended December 31, 2009, each of such documents being incorporated by
reference in the Prospectus. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These factors should be
considered carefully and readers are cautioned not to place undue reliance on
the forward-looking statements. Readers are cautioned that the foregoing list of
risk factors is not exhaustive and it is recommended that prospective investors
consult the more complete discussion of risks and uncertainties facing the
Company included in the Prospectus. See &#147;Risk Factors&#148; for a more detailed
discussion of these risks. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although the Company believes
that the expectations conveyed by the forward-looking statements are reasonable
based on the information available to it on the date such statements were made,
no assurances can be given as to future results, approvals or achievements. The
forward-looking statements contained in the Prospectus and the documents
incorporated by reference herein are expressly qualified by this cautionary
statement. The Company disclaims any duty to update any of the forward-looking
statements after the date of the Prospectus to conform such statements to actual
results or to changes in the Company&#146;s expectations except as otherwise required
by applicable law. </P>
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<P align=center>- 4 - </P>
<P align=center><B>INTERPRETATION, CURRENCY AND EXCHANGE RATES AND GENERAL
INFORMATION </B></P>
<P align=justify>In the Prospectus: <B></B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>g/t</B> </TD>
    <TD align=left width="75%">means grams per tonne; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>kV</B> </TD>
    <TD align=left width="75%">means kilovolts; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>lb</B> </TD>
    <TD align=left width="75%">means pound; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>NI 43-101</B> </TD>
    <TD align=left width="75%">means National Instrument 43-101 - Standards of
      Disclosure for Mineral Projects; </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>ton</B> </TD>
    <TD align=left width="75%">means 2,000 pounds; and </TD></TR>
  <TR vAlign=top>
    <TD align=left ><B>tonne or t</B> </TD>
    <TD align=left width="75%">means 1 metric tonne, equal to 1,000 kilograms,
      or 1.102 tons. </TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the context otherwise
requires, references to the &#147;Company&#148; &#147;we&#148;, &#147;our&#148;, &#147;us&#148; or &#147;Taseko&#148; mean Taseko
Mines Limited and the Company&#146;s subsidiary, Gibraltar Mines Ltd. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All currency amounts in the
Prospectus are in Canadian dollars unless otherwise indicated. On October 7,
2010, CDN$1.00 was equivalent to US$0.9837 as reported by the Bank of Canada.
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko uses the imperial measure
of tons to describe its reserves and resources at the Gibraltar Mine, and uses
metric tonnes to describe its reserves and resources at the Prosperity Project.
The difference is due to the age of the projects and, since the Gibraltar Mine
has been in production for many years, it has continued to use the imperial
measure for consistency, whereas the Prosperity Project has adopted the metric
standard used in Canada today. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The address of the Company&#146;s
website is <U><FONT color=#0000ff>www.tasekomines.com</FONT></U>. Information
contained on the Company&#146;s website is not part of the Prospectus or incorporated
by reference herein. Prospective investors should rely only on the information
contained or incorporated by reference in the Prospectus. The Company has not
authorized any person to provide different information.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities being offered for
sale under this prospectus may only be sold in those jurisdictions in which
offers and sales of the Securities are permitted. The Prospectus is not an offer
to sell or a solicitation of an offer to buy the Securities in any jurisdiction
where it is unlawful to do so. The information contained in the Prospectus is
accurate only as of the date of the Prospectus, regardless of the time of
delivery of this prospectus or of any sale of the Securities. </P>
<P align=center><B>CAUTIONARY NOTE TO UNITED STATES INVESTORS REGARDING
ESTIMATES OF <BR>RESERVES AND MEASURED, INDICATED AND INFERRED RESOURCES
</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The disclosure in the Prospectus,
including the documents incorporated by reference herein, uses mineral resource
classification terms that comply with reporting standards in Canada, and certain
mineral resource estimates are made in accordance with National Instrument
43-101 - <I>Standards of Disclosure for Mineral Projects</I> (&#147;NI 43-101&#148;). NI
43-101 is a rule developed by the Canadian Securities Administrators that
establishes standards for all public disclosure an issuer makes of scientific
and technical information concerning mineral projects. Unless otherwise
indicated, all reserve and resource estimates contained in or incorporated by
reference in the Prospectus have been prepared in accordance with NI 43-101.
These standards differ significantly from the requirements of the SEC, and
reserve and resource information contained herein and incorporated by reference
herein may not be comparable to similar information disclosed by U.S.
companies.</P>
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<P align=center>- 5 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prospectus includes mineral
reserve estimates that have been calculated in accordance with NI 43-101, as
required by Canadian securities regulatory authorities. For United States
reporting purposes, SEC Industry Guide 7 (under the Exchange Act), as
interpreted by the staff of the SEC, applies different standards in order to
classify mineralization as a reserve. As a result, the definitions of proven and
probable reserves used in NI 43-101 differ from the definitions in SEC Industry
Guide 7. Under SEC standards, mineralization may not be classified as a
&#147;reserve&#148; unless the determination has been made that the mineralization could
be economically and legally produced or extracted at the time the reserve
determination is made. Among other things, all necessary permits would be
required to be in hand or issuance imminent in order to classify mineralized
material as reserves under the SEC standards. Accordingly, mineral reserve
estimates contained in this prospectus may not qualify as &#147;reserves&#148; under SEC
standards. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Prospectus uses
the terms &#147;measured mineral resources&#148;, &#147;indicated mineral resources&#148; and
&#147;inferred mineral resources&#148; to comply with the reporting standards in Canada.
The Company advises prospective investors that while those terms are recognized
and required by Canadian regulations, the SEC does not recognize them. Investors
are cautioned not to assume that any part or all of the mineral deposits in
these categories will ever be converted into SEC defined mineral reserves. These
terms have a great amount of uncertainty as to their existence, and great
uncertainty as to their economic and legal feasibility.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further, &#147;inferred resources&#148;
have a great amount of uncertainty as to their existence and as to whether they
can be mined legally or economically. Therefore, investors are also cautioned
not to assume that all or any part of the inferred resources exist. In
accordance with Canadian rules, estimates of &#147;inferred mineral resources&#148; cannot
form the basis of feasibility or other economic studies.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It cannot be assumed that all or
any part of &#147;measured mineral resources&#148;, &#147;indicated mineral resources&#148;, or
&#147;inferred mineral resources&#148; will ever be upgraded to a higher category.
Investors are cautioned not to assume that any part of the reported &#147;measured
mineral resources&#148;, &#147;indicated mineral resources&#148;, or &#147;inferred mineral
resources&#148; in the Prospectus is economically or legally mineable.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the above reasons,
information contained in the Prospectus and the documents incorporated by
reference herein containing descriptions of the Company&#146;s mineral deposits may
not be comparable to similar information made public by U.S. companies subject
to the reporting and disclosure requirements under the United States federal
securities laws and the rules and regulations thereunder.</P>
<P align=center><B>NOTE TO UNITED STATES READERS REGARDING DIFFERENCES BETWEEN
UNITED <BR>
STATES AND CANADIAN FINANCIAL REPORTING PRACTICES </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko prepares its financial
statements in accordance with Canadian GAAP, which differ from U.S. generally
accepted accounting principles (&#147;U.S. GAAP&#148;). Therefore, the Company&#146;s financial
statements incorporated by reference in the Prospectus, and in the documents
incorporated by reference in this Prospectus, may not be comparable to financial
statements prepared in accordance with U.S. GAAP. Prospective investors should
refer to: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <div align="justify">the audited Supplementary Note entitled &#147;Reconciliation with United States
      Generally Accepted Accounting Principles&#148; for the year ended December 31,
      2009, the fifteen months ended December 31, 2008, and the year ended September
      30, 2007 (as furnished to the SEC on Form 6- K on September 17, 2010); and </div>
  </LI>
</UL>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>- 6 - </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <div align="justify">the unaudited Supplementary Note entitled &#147;Reconciliation with United
      States Generally Accepted Accounting Principles&#148; as at June 30, 2010, and for
      the three and six months ended June 30, 2010 (as furnished to the SEC on Form
      6-K on September 17, 2010), </div>
  </LI>
</UL>
<P align=justify>for a discussion of the principal differences between the Company&rsquo;s financial results determined under Canadian GAAP and under U.S. GAAP.  The Supplementary Notes should be read in conjunction with, respectively, the Company&rsquo;s audited consolidated financial statements as at and for the periods ended December 31, 2009 and 2008 and September 30, 2007, and the Company&rsquo;s unaudited interim consolidated financial statements for the three and six months ended June 30, 2010.  See &ldquo;Documents Incorporated by Reference&rdquo;.</P>
<P align=center><B>ADDITIONAL INFORMATION </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has filed with the
SEC a registration statement on Form F-10 under the United States Securities Act
of 1933, as amended (the &#147;U.S. Securities Act&#148;), relating to the offering of the
Securities. The Prospectus, which constitutes a part of the registration
statement, does not contain all of the information contained in the registration
statement, certain items of which are contained in the exhibits to the
registration statement as permitted by the rules and regulations of the SEC.
Statements included or incorporated by reference in the Prospectus about the
contents of any contract, agreement or other documents referred to are not
necessarily complete, and in each instance, you should refer to the exhibits for
a more complete description of the matter involved. Each such statement is
qualified in its entirety by such reference. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is subject to the
informational reporting requirements of the Exchange Act as the Common Shares
are registered under Section 12(b) of the Exchange Act. Accordingly, the Company
is required to publicly file reports and other information with the SEC. Under
the multi-jurisdictional disclosure system adopted by the United States and
Canada (the &#147;MJDS&#148;), the Company is permitted to prepare such reports and other
information in accordance with Canadian disclosure requirements, which are
different from United States disclosure requirements. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a foreign private issuer, the
Company is exempt from the rules under the Exchange Act prescribing the
furnishing and content of proxy statements in connection with meetings of its
shareholders. In addition, the officers, directors and principal shareholders of
the Company are exempt from the reporting and short-swing profit recovery rules
contained in Section 16 of the Exchange Act. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company files annual reports
on Form 40-F with the SEC under the MJDS, which annual reports include: </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <div align="justify">the annual information form;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">management&#146;s discussion and analysis of financial condition and results of
      operations; <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">consolidated audited financial statements, which are prepared in
      accordance with Canadian GAAP and reconciled to U.S. GAAP; and
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">other information specified by the Form 40-F. </div>
  </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As a foreign private issuer, the
Company is required to furnish the following types of information to the SEC
under cover of Form 6-K: </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>- 7 - </P>
<UL style="TEXT-ALIGN: justify">
  <LI>
    <div align="justify">material information that the Company otherwise makes publicly available
      in reports that the Company files with securities regulatory authorities in
      Canada;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">material information that the Company files with, and which is made public
      by, the TSX; and
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">material information that the Company distributes to its shareholders in
      Canada. </div>
  </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investors may read and copy, for
a fee, any document that the Company has filed with or furnished to the SEC at
the SEC&#146;s public reference room in Washington, D.C. at 100 F Street, N.E.,
Washington, D.C. 20549. Investors should call the SEC at 1-800-SEC-0330 or
access its website at www.sec.gov for further information about the public
reference room. Investors may read and download some of the documents the
Company has filed with the SEC&#146;s Electronic Data Gathering and Retrieval system
(&#147;EDGAR&#148;) at www.sec.gov. Investors may read and download any public document
that the Company has filed with the securities commissions or similar regulatory
authorities in Canada at www.sedar.com. </P>
<P align=center><B>ENFORCEABILITY OF CIVIL LIABILITIES BY U.S. INVESTORS</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is a corporation
existing under the <I>Business Corporations Act</I> (British Columbia). All but
one of the Company&#146;s directors, all of its officers, and all of the experts
named in the Prospectus, are residents of Canada or otherwise reside outside the
United States, and all or a substantial portion of their assets, and all of the
Company&#146;s assets, are located outside the United States. The Company has
appointed an agent for service of process in the United States, but it may be
difficult for holders of the Securities who reside in the United States to
effect service within the United States upon those directors, officers and
experts who are not residents of the United States. It may also be difficult for
holders of the Securities who reside in the United States to realize upon
judgments of courts of the United States predicated upon the Company&#146;s civil
liability and the civil liability of its directors, officers and experts under
the United States federal securities laws. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has been advised by
its Canadian counsel, Lang Michener LLP, that a judgment of a United States
court predicated solely upon civil liability under United States federal
securities laws would probably be enforceable in Canada if the United States
court in which the judgment was obtained has a basis for jurisdiction in the
matter that would be recognized by a Canadian court for the same purposes. The
Company has also been advised by Lang Michener LLP, however, that there is
substantial doubt whether an action could be brought in Canada in the first
instance on the basis of liability predicated solely upon United States federal
securities laws. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company filed with the SEC,
concurrently with its registration statement on Form F-10, an appointment of
agent for service of process on Form F-X. Under the Form F-X, the Company
appointed Corporation Service Company as its agent for service of process in the
United States in connection with any investigation or administrative proceeding
conducted by the SEC, and any civil suit or action brought against or involving
the Company in a United States court arising out of, related to, or concerning
the offering of the Securities under the Prospectus. </P>
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<P align=center>- 8 - </P>
<P align=center><B>THE COMPANY </B></P>
<P align=justify><B>Overview </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko was incorporated on April
15, 1966 under the laws of the Province of British Columbia. Taseko&#146;s registered
office is located at Suite 1500-1055 West Georgia, Vancouver, British Columbia,
V6E 4N7, and its operational head office is located at Suite 300, 905 West
Pender Street, Vancouver, British Columbia, V6C 1L6. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko has one material active
wholly owned subsidiary, Gibraltar Mines Ltd. (&#147;Gibraltar&#148;), and other inactive
or non-material subsidiaries described in the Annual Information Form. Taseko
owns 100% of the common shares of Gibraltar but none of Gibraltar&#146;s issued
preferred shares.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March 31, 2010, the Company
sold a 25% joint venture interest in the Gibraltar mine, a copper and molybdenum
mine (the &#147;Gibraltar Mine&#148;), to Cariboo Copper Corp. (&#147;Cariboo&#148;) for $187.0
million. Cariboo is a consortium that consists of Sojitz Corporation (50%), Dowa
Corporation (25%) and Furakawa Corporation (25%). The Company retains a 75%
interest in the Gibraltar joint venture and is the operator of the Gibraltar
Mine. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Gibraltar Mine restarted
operations in October 2004 after being on standby for several years. Taseko also
owns the Prosperity gold-copper project (the &#147;Prosperity Project&#148;) which is at
the post-feasibility stage with an environmental assessment underway. In
addition, Taseko has non-material properties including the Harmony gold project
(the &#147;Harmony Project&#148;) which is at the late exploration stage but is currently
inactive, and the Aley niobium property (the &#147;Aley Project&#148;), where Taseko
carried out an initial exploration program and which is also inactive. All of
these projects are located in British Columbia, Canada. </P>
<P align=justify><B>Gibraltar Mine </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless stated otherwise,
information of a technical or scientific nature related to the Gibraltar Mine
contained in the Prospectus (including documents incorporated by reference
herein) is summarized or extracted from a technical report entitled &#147;Technical
Report on the 105 Million Ton Increase in Mineral Reserves at the Gibraltar
Mine&#148; dated January 23, 2009 (the &#147;Gibraltar Technical Report&#148;), prepared by
Scott Jones, P. Eng., filed on Taseko&#146;s profile on SEDAR at <U><FONT
color=#0000ff>www.sedar.com</FONT></U> and updated with 2009 production results.
Mr. Jones is not independent of Taseko by virtue of being employed by the
Company as Vice-President, Engineering. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Gibraltar Mine is located
near the City of Williams Lake in south-central British Columbia. As at December
31, 2009, the Gibraltar Mine had proven and probable mineral reserves of 459.9
million tons grading 0.315% copper and 0.008% molybdenum (see Table 1). </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Gibraltar Mine obtained government permitting and re-started operation in early October 2004 following several years on care and maintenance as a result of low metal prices. Commercial production re-started on January 1, 2005 and has continued to the present. Total production in the three years leading up to December 31, 2009 was 33.7 million tons milled, producing 188.4 million lb. of copper in concentrate and cathode, and 1.9 million lb. of molybdenum.  Construction of the Phase 1 mill expansion was completed in February 2008. The ramp up to the rated processing capacity of 46,000 tons per day (&ldquo;tpd&rdquo;) has been ongoing since the completion of construction. The construction schedule of a Phase 2 expansion program, designed to increase the concentrator capacity from 46,000 tpd to 55,000 tpd, was modified as a result of management&rsquo;s review of capital spending in the face of the global credit market crisis in late 2008. The regrind and cleaner
 flotation circuits were completed in the summer of 2009 as they provide very robust payback by enhancing both copper and molybdenum recoveries. Ramp up to 55,000 tpd will occur during 2010 and 2011 following completion of the remainder of the Phase 2 program, and installation of the in-pit crusher and conveyor and the SAG mill direct feed system.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<A name=page_17></A>
<P align=center>- 9 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One hundred seventy-three new
diamond drill holes were completed between July 2007 and September 2008, of
which 115 holes were included in the Gibraltar Extension geological model, and
allowed for expansion and update of the reserves at the Gibraltar Mine. The
Gibraltar Extension is a body of mineralization on the Gibraltar Mine property
which has shape and structure that are significantly different from other
deposits that occur on the property. Drilling up until the 2008 program had
provided details of the northwest and southeast portions of the Gibraltar
deposit but the central zone was under-drilled and poorly defined. The 2008
program objective was to test the continuity of mineralization between the two
ends and increase drillhole density along the Gibraltar deposit to upgrade the
resource model blocks from inferred to measured and indicated category so that
proven and probable reserves could be estimated.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The reserve estimates for the
Gibraltar Extension deposit used long term metal prices of US$1.75/lb for copper
and US$10.00/lb for molybdenum and a foreign exchange rate of Cdn$0.82 per US
dollar. The balance of the reserves used September 2007 NI 43-101 estimates
reduced by actual 2008 and 2009 mining, with long term metal prices of
US$1.50/lb for copper, US$10/lb for molybdenum and a foreign exchange rate of
$0.80 per US dollar. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The proven and probable reserves
as of December 31, 2009 are tabulated in Table 1 below and are NI 43-101 and SEC
Guide 7 compliant. </P>
<P align=center><B>Table 1: Gibraltar Mineral Reserves <BR>at 0.20% Copper
Cut-off </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=left ><B>Pit </B><BR></TD>
    <TD align=left width="15%" ><B>Category </B><BR></TD>
    <TD align=center width="15%" ><B>Tons </B><BR><B>(millions)
      </B></TD>
    <TD align=center width="15%"><B>Cu </B><BR><B>(%) </B></TD>
    <TD align=center width="15%"><B>Mo </B><BR><B>(%) </B></TD></TR>
  <TR vAlign=top>
    <TD align=left rowSpan=2 >Connector <BR><BR></TD>
    <TD align=left width="15%" >Proven <BR>Probable </TD>
    <TD align=center width="15%" >40.4 <BR>14.8 </TD>
    <TD align=center width="15%">0.296 <BR>0.271 </TD>
    <TD align=center width="15%">0.010 <BR>0.009 </TD></TR>
  <TR vAlign=top>
    <TD align=left width="15%" ><B>Subtotal </B></TD>
    <TD align=center width="15%" ><B>55.2 </B></TD>
    <TD align=center width="15%"><B>0.289 </B></TD>
    <TD align=center width="15%"><B>0.010 </B></TD></TR>
  <TR vAlign=top>
    <TD align=left rowSpan=2 >Gibraltar East <BR><BR></TD>
    <TD align=left width="15%" >Proven <BR>Probable </TD>
    <TD align=center width="15%" >66.8 <BR>33.3 </TD>
    <TD align=center width="15%">0.286 <BR>0.285 </TD>
    <TD align=center width="15%">0.008 <BR>0.013 </TD></TR>
  <TR vAlign=top>
    <TD align=left width="15%" ><B>Subtotal </B></TD>
    <TD align=center width="15%" ><B>100.1 </B></TD>
    <TD align=center width="15%"><B>0.286 </B></TD>
    <TD align=center width="15%"><B>0.010 </B></TD></TR>
  <TR vAlign=top>
    <TD align=left rowSpan=2 >Granite <BR><BR></TD>
    <TD align=left width="15%" >Proven <BR>Probable </TD>
    <TD align=center width="15%" >178.3 <BR>21.6 </TD>
    <TD align=center width="15%">0.325 <BR>0.319 </TD>
    <TD align=center width="15%">0.009 <BR>0.009 </TD></TR>
  <TR vAlign=top>
    <TD align=left width="15%" ><B>Subtotal </B></TD>
    <TD align=center width="15%" ><B>199.9 </B></TD>
    <TD align=center width="15%"><B>0.324 </B></TD>
    <TD align=center width="15%"><B>0.009 </B></TD></TR>
  <TR vAlign=top>
    <TD align=left rowSpan=2 >Gibraltar Extension <BR><BR></TD>
    <TD align=left width="15%" >Proven <BR>Probable </TD>
    <TD align=center width="15%" >75.4 <BR>29.3 </TD>
    <TD align=center width="15%">0.352 <BR>0.304 </TD>
    <TD align=center width="15%">0.002 <BR>0.002 </TD></TR>
  <TR vAlign=top>
    <TD align=left width="15%" ><B>Subtotal </B></TD>
    <TD align=center width="15%" ><B>104.7 </B></TD>
    <TD align=center width="15%"><B>0.339 </B></TD>
    <TD align=center width="15%"><B>0.002 </B></TD></TR>
  <TR vAlign=top>
    <TD align=left colSpan=2 >Total </TD>
    <TD align=center width="15%" >459.9 </TD>
    <TD align=center width="15%">0.315 </TD>
    <TD align=center width="15%">0.008 </TD></TR></TABLE></DIV><BR>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=top>
    <TD align=center><B><FONT color=#ff0000>Cautionary Note to Investors
      Concerning Estimates of Measured and Indicated Resources </FONT></B><BR>
      <P align=justify>This section uses the terms &#145;measured resources&#146; and
      &#145;indicated resources&#146;. The Company advises investors that while those
      terms are recognized and required by Canadian regulations, the U.S.
      Securities and Exchange Commission does not recognize them. <B>Investors
      are cautioned not to assume that any </B><B>part or all of mineral
      deposits in these categories will ever be converted into reserves.
    </B></P></TD></TR></TABLE></DIV><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>- 10 - </P>
<P align=justify>The mineral reserves stated above are contained within the
mineral resources shown in Table 2 below: </P>
<P align=center><B>Table 2 <BR></B><B>Gibraltar Mine Mineral Resources <BR>at
0.20% Copper Cut-off </B></P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="60%" border=1>

  <TR vAlign=top>
    <TD align=left><B>Category</B> </TD>
    <TD align=center width="25%"><B>Tons</B> <BR><B>(millions)</B> </TD>
    <TD align=center width="25%"><B>Cu</B> <BR><B>(%)</B> </TD>
    <TD align=center width="25%"><B>Mo</B> <BR><B>%)</B> </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Measured </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">597.7 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">0.302 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">0.008 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>Indicated </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">361.0 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">0.290 </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%">0.008 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Total</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>958.7</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>0.298</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="25%"><B>0.008</B> </TD></TR></TABLE></DIV>
<P align=justify><B>Prosperity Project </B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>

  <TR vAlign=bottom>
    <TD align=center><B><font color="#FF0000">Cautionary Note to Investors Concerning Reserve
      Estimates</font></B>
      <P align=justify>The following mineral reserves have been estimated in
      accordance with NI 43-101, as required by Canadian securities regulatory
      authorities. For United States reporting purposes, SEC Industry Guide 7
      under the Exchange Act, as interpreted by Staff of the SEC, applies
      different standards in order to classify mineralization as a reserve. As a
      result, the definitions of proven and probable reserves used in NI 43-101
      differ from the definitions in the SEC Industry Guide 7. Under SEC
      standards, mineralization may not be classified as a &#147;reserve&#148; unless the
      determination has been made that the mineralization could be economically
      and legally produced or extracted at the time the reserve determination is
      made. Among other things, all necessary permits would be required to be in
      hand or issuance imminent in order to classify mineralized material as
      reserves under the SEC standards. Accordingly, mineral reserve estimates
      contained in this prospectus or in documents incorporated herein by
      reference may not qualify as &#147;reserves&#148; under SEC standards. In addition,
      disclosure of &#147;contained ounces&#148; is permitted disclosure under Canadian
      regulations; however, the SEC only permits issuers to report reserves in
      ounces, and requires reporting of mineralization that does not qualify as
      reserves as in place tonnage and grade without reference to unit measures.      </P></TD>
  </TR></TABLE></DIV>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless stated otherwise,
information of a technical or scientific nature related to the Prosperity
Project contained in the Prospectus (including documents incorporated by
reference herein) is summarized or extracted from a technical report entitled
&#147;Technical Report on the 344 million tonne increase in mineral reserves at the
Prosperity Gold &#150; Copper Project&#148; dated December 17, 2009 (the &#147;Prosperity
Technical Report&#148;), prepared by Scott Jones, P. Eng., filed on Taseko&#146;s profile
on SEDAR at www.sedar.com. Mr. Jones is not independent of Taseko by virtue of
being employed by the Company as Vice-President, Engineering. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May 12, 2010, the Company
entered into a gold stream transaction with Franco-Nevada Corporation
(&#147;Franco-Nevada&#148;) pursuant to which Franco-Nevada will provide US$350.0 million
for the Prosperity Project along with warrants to purchase 2 million common
shares of Franco-Nevada at an exercise price of $75.00 per share until June 16,
2017 in exchange for a 22% interest in the future gold production for the life
of the mine. The investment by Franco-Nevada is subject to certain conditions
precedent, including full financing and permitting of the Prosperity Project.
The US$350.0 million will be amortized over gold deliveries under the agreement
and, in addition, the Company will be paid the lower of US$400 per ounce and
market price for the gold, which is subject to inflation adjustments going
forward.<B> </B></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>- 11 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Prosperity Project is located 125
km southwest of the City of Williams Lake in the Cariboo-Chilcotin region of
British Columbia. The following are the highlights of the Prosperity Project:
</P>
<UL>
  <LI>
    <div align="justify">Located near existing infrastructure in south-central British Columbia;
    </div>
  <LI>
    <div align="justify">Pre-tax return on investment of 10% with an eight year payback from start
      of production;
    </div>
  <LI>
    <div align="justify">33 year mine life at a milling rate of 70,000 tonnes/day;
    </div>
  <LI>
    <div align="justify">Life of mine waste-to-ore strip ratio of 1.5;
    </div>
  <LI>
    <div align="justify">Total pre-production capital cost of $814 million;
    </div>
  <LI>
    <div align="justify">Site operating cost of $7.51 per tonne milled over the life of mine; and
    </div>
  <LI>
    <div align="justify">Total operating costs net of by product credits of US$0.59/lb Cu. </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 2009, Taseko updated the
mineral reserve estimate from a 2007 feasibility study on the Prosperity Project
by assuming  long term metal prices of $1.65/lb Cu and $650/oz Au. The
resulting mineral reserves are shown in Table 3. </P>
<P align=center><B>Table 3 </B><BR><B>Prosperity Mineral Reserves </B><BR><B>at
$5.50 NSR/t Pit-Rim Cut-off </B><BR></P>
<TABLE width="100%" border=1 cellPadding=3
cellSpacing=0 bordercolor="#000000"
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; ">
  <tr>
    <td width="14%" valign="bottom"><p align="center"><b>Category</b></p></td>
    <td width="12%" valign="bottom"><p align="center"><b>Tonnes<br>
    (millions)</b></p></td>
    <td width="12%" valign="bottom"><p align="center"><b>Gold</b><br>
      <b>(g/t)</b></p>
    </td>
    <td width="12%" valign="bottom"><p align="center"><b>Copper</b><br>
      <b>(%)</b></p>
    </td>
    <td width="12%" valign="bottom"><p align="center"><b>Recoverable    Gold Ounces<br>
    (millions)</b></p></td>
    <td width="12%" valign="bottom"><p align="center"><b>Recoverable    Copper Pounds<br>
    (billions)</b></p></td>
  </tr>
  <tr>
    <td width="14%"><p align="center">Proven<br>
      Probable</p>
    </td>
    <td width="12%"><p align="center">481<br>
      350</p>
    </td>
    <td width="12%"><p align="center">0.46<br>
      0.35</p>
    </td>
    <td width="12%"><p align="center">0.26<br>
      0.18</p>
    </td>
    <td width="12%"><p align="center">5.0<br>
      2.7</p>
    </td>
    <td width="12%"><p align="center">2.4<br>
      1.2</p>
    </td>
  </tr>
  <tr>
    <td width="14%"><p align="center">Total</p></td>
    <td width="12%"><p align="center">831</p></td>
    <td width="12%"><p align="center">0.41</p></td>
    <td width="12%"><p align="center">0.23</p></td>
    <td width="12%"><p align="center">7.7</p></td>
    <td width="12%"><p align="center">3.6</p></td>
  </tr>
</table>
<P align=justify>Recoverable gold and copper calculated using recoveries of 69%
and 87%, respectively. </P>
<DIV>
  <TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
borderColor=#000000 cellSpacing=0 cellPadding=3 width="100%" border=1>
    <TR vAlign=top>
      <TD align=center><B><FONT color=#ff0000>Cautionary Note to Investors
        Concerning Estimates of Measured and Indicated Resources </FONT></B><BR>
              <P align=justify>This section uses the terms &#145;measured resources&#146; and &#145;indicated
resources&#146;. The Company advises investors that while those terms are recognized
and required by Canadian regulations, the SEC does not recognize them. <B>Investors are cautioned not to assume that any part or all of mineral
deposits in these categories will ever be converted into SEC defined
reserves.</B><I> </I></P></TD>
    </TR>
  </TABLE>
</DIV>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Proven and Probable Reserves on
the Prosperity Project are included in the Measured and Indicated Mineral
Resources disclosed in Table 4 below. The Mineral Resources are as outlined by
drilling to date, and estimated at a 0.14% copper cut-off. </P>
<P align=center><STRONG>Table 4</STRONG> <BR><B>Prosperity Mineral Resources</B>
<BR><B>at 0.14%</B> <B>Copper Cut-Off</B></P>
<TABLE width="100%" border=1 cellPadding=3
cellSpacing=0 bordercolor="#000000"
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; ">
  <tr>
    <td width="25%" valign="bottom"><p align="center"><b>Category </b> </p></td>
    <td width="25%" valign="bottom"><p align="center"><b>Tonnes </b> <br>
      <b>(millions) </b> </p>
    </td>
    <td width="25%" valign="bottom"><p align="center"><b>Gold </b> <br>
      <b>(g/t) </b> </p>
    </td>
    <td width="25%" valign="bottom"><p align="center"><b>Copper </b> <br>
      <b>(%) </b> </p>
    </td>
  </tr>
  <tr>
    <td width="25%"><p><b>Measured </b> </p></td>
    <td width="25%"><p align="center">547.1 </p></td>
    <td width="25%"><p align="center">0.46 </p></td>
    <td width="25%"><p align="center">0.27 </p></td>
  </tr>
  <tr>
    <td width="25%"><p><b>Indicated </b> </p></td>
    <td width="25%"><p align="center">463.4 </p></td>
    <td width="25%"><p align="center">0.34 </p></td>
    <td width="25%"><p align="center">0.21 </p></td>
  </tr>
  <tr>
    <td width="25%"><p><b>Total </b> </p></td>
    <td width="25%"><p align="center"><b>1,010.5 </b> </p></td>
    <td width="25%"><p align="center"><b>0.41 </b> </p></td>
    <td width="25%"><p align="center"><b>0.24 </b> </p></td>
  </tr>
</table>
<br>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=center>- 12 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Taseko carried out ongoing and
systematic exploration programs on the Prosperity Project from 1991 to 1999,
drilling 156,339 m in 470 holes and outlining a large porphyry gold-copper
deposit. Taseko re-initiated work on the Prosperity Project in late 2005, and a
mill redesign and project cost review was completed in 2006.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Based on ongoing feasibility work
through 2007, the following development and production scenario is envisaged.
Activities during a pre-production period of two years would include
construction of the electricity transmission line; upgrading and extension of
current road access and mine site clearing; site infrastructure, processing, and
tailings starter dam construction; removal and storage of overburden; and
pre-production waste development. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The mine plan utilizes a large-scale
conventional truck and shovel open pit mining and milling operation. Following a
one and a half year pre-strip period, total material moved over years one
through 31 averages 170,000 tonnes/day at a strip ratio of 1.5:1. A declining
net smelter return cut-off is applied to the mill feed, which defers lower grade
ore for later processing. The lower grade ore is recovered from stockpile for
the final years of the mine plan.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Prosperity Project processing
plant has been designed with a nominal capacity of 70,000 tonnes/day. Expected
life-of-mine metallurgical recovery is 87% for copper and 69% for gold, with
annual production averaging 110 million pounds copper and 234,000 ounces gold
over the 33 year mine life.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The copper-gold concentrate will be
hauled with highway trucks to an expanded load-out facility at Gibraltar&#146;s
existing facility near Macalister for rail transport to various points of sale,
but mostly through the Port of Vancouver for shipment to smelters and refineries
around the world. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Power will be supplied via a new 124
km long, 230 kV transmission line from Dog Creek on the BC Hydro grid.
Infrastructure would also include the upgrade of sections of the existing road
to the site, construction of a short spur to the minesite, an on-site camp,
equipment maintenance shop, administration office, concentrator facility,
warehouse, and explosives facilities. Based on the Prosperity Technical Report,
the Prosperity Project would employ up to 460 permanent and 60 contractor
personnel.</P>
<P align=justify><U>Recent Developments</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; <EM>Environmental Review Process
</EM></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Prosperity Project received
approval under the <I>Environmental Assessment Act</I> (British Columbia) on
January 14, 2010. Detailed permitting for activities under Provincial
jurisdiction, such as the Mines Act Permit, is underway. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Federal Panel process, in which
public hearings were conducted by a three-person Panel operating under defined
Terms of Reference, concluded on May 3, 2010. The Federal Panel submitted its
findings to the Federal Minister of Environment on July 2, 2010. The panel
findings were essentially the same as the conclusions reached in the Provincial
Environmental Assessment, being that loss of Fish Lake and the adjacent meadows
would result in significant adverse environmental effects; however, the
provincial process concluded that the environmental impacts were justified
because the lake and fishery will be replaced and the economic and social
benefits generated are significant, but the panel was not mandated to assess
economic and social value generated by the Prosperity Project. The Canadian
Federal Cabinet is expected to make a decision in October 2010. The issue for
the Federal Cabinet is whether the adverse environmental effects of the
Prosperity Project as found by the Federal Panel can be justified in the
circumstances. This is basically the same justification analysis that the
Province of British Columbia was required to undertake, and the Province&#146;s conclusion was
that the benefits from the Prosperity Project justified the limited adverse
environmental effects. Taseko believes that the significant economic benefits
that will flow to the region, the Province of British Columbia and the federal
government as a result of the Prosperity Project will be given prominence in the
deliberations of the Federal Cabinet. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=center>- 13 - </P>
<P align=center><B>USE OF PROCEEDS </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise indicated in a
prospectus supplement, Taseko currently intends to use the net proceeds from the
sale of the Securities, along with cash on hand, cash forecasted to be generated
and cash from the Franco-Nevada gold stream transaction, for the completion of
construction at the Prosperity Project, which is estimated to be approximately
$814 million. Taseko may also use a portion of the proceeds for other more
general working capital purposes. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; More detailed information regarding
the use of proceeds from the sale of the Securities will be described in any
applicable prospectus supplement. Pending the application of the net proceeds,
Taseko intends to invest the net proceeds in investment-grade, interest-bearing
securities, the primary objectives of which are liquidity and capital
preservation. </P>
<P align=center><B>CONSOLIDATED CAPITALIZATION </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The authorized share capital of the Company consists of an unlimited number of common shares without par value, of which 186,898,353 were issued and outstanding as at October 7, 2010.  Since June 30, 2010, the date of the Company&rsquo;s most recently filed financial statements, there have been no material changes in the Company&rsquo;s consolidated share capital.</P>
<P align=center><B>PRIOR SALES </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; For the 12-month period before the
date of this prospectus, the Company issued the following common shares and
securities convertible into common shares: </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 9pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center colSpan=5>&nbsp;&nbsp;&nbsp;<B>Aggregate
      Number and Type</B>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      ><B>Date of Issuance</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="32%"
    ><B>of Securities Issued</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="2%">&nbsp;</TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="32%"
    ><B>Price per Security</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center >October 13, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >2,000 Common
      Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00</TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >October 15,
      2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >15,250 Common Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
  <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center >November 24, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >5,000 Common
      Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$2.07</TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >December 2,
      2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >46,200 Common Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
  <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center >December 2, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >50,000 Common
      Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$2.07</TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >December 2,
      2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >150,000 Options </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
  <TD align=center width="32%" bgColor=#e6efff >$4.14 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center >December 3, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >62,500 Common
      Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00</TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >December 7,
      2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >500 Common Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
  <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center >December 10, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >61,000 Common
      Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00</TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >December 11,
      2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >8,000 Common Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
  <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center >December 14, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >35,000 Common
      Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00  </TD>
  </TR>
</TABLE>
<p><BR>
</p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A>
<P align=center>- 14 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 9pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center colSpan=5>&nbsp;&nbsp;&nbsp;<B>Aggregate
      Number and Type</B>&nbsp; </TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;<B>Date of Issuance</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="32%"><B>of Securities Issued</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="32%"><B>Price per Security</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 15, 2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>18,800 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 16, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">20,500 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 16, 2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>50,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$2.18  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 16, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">33,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 16, 2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>11,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$3.07  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 22, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">6,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 22, 2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>50,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$2.18  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 22, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">33,333 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>December 22, 2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>33,666 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.71  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>December 24, 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">7,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.90 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 4, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>12,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 5, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">11,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 5, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>1,925,000
      Options </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$4.46  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 6, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">125,000 Common Shares*</TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$4.02 (deemed) </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 6, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>10,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 7, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">14,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 8, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>65,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.15  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 11, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">7,500 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 12, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>33,333 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.15  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 12, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">5,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 14, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>5,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 15, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">17,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 15, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>1,193,500
      Options </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$4.77  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 18, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">21,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 19, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>274,400 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.15  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 20, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">20,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$2.07 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 20, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>50,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 20, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">35,600 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 21, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>2,500 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 25, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">20,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 26, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>25,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$3.07  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>January 26, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">9,500 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>January 28, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>300,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.15  </TD>
  </TR>
</TABLE>
<p><BR>
</p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A>
<P align=center>- 15 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 9pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center colSpan=5>&nbsp;<B>Aggregate Number and Type</B>&nbsp;
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      ><B>Date of Issuance</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="32%"
    ><B>of Securities Issued</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="32%"
    ><B>Price per Security</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >January 29, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >210,000 Options
    </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$5.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >February 2, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >10,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$3.07 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >February 2, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >8,500 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >February 5, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >230,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.15 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >February 5, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >2,500 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >February 11, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >19,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >February 14, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >24,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >February 16, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >120,000 Options </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$4.59 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >February 22, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >65,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.15 </TD></TR>
  <TR vAlign=top>
    <TD align=center >March 2, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >133,334 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.15 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >March 2, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >5,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >March 19, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >30,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$4.03 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >March 24, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >1,556,355
      Common Shares* </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$5.02 </TD></TR>
  <TR vAlign=top>
    <TD align=center >March 24, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >5,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >April 1, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >21,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$4.50 </TD></TR>
  <TR vAlign=top>
    <TD align=center >April 6, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >53,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >April 9, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >31,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >April 9, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >7,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$2.18 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >April 12, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >1,500 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >April 14, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >11,500 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >April 14, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >10,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$4.50 </TD></TR>
  <TR vAlign=top>
    <TD align=center >April 15, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >3,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >April 19, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >30,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$4.03 </TD></TR>
  <TR vAlign=top>
    <TD align=center >April 20, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >21,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$4.50 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >April 20, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >30,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >April 27, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >2,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >May 4, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >33,667 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.71 </TD></TR>
  <TR vAlign=top>
    <TD align=center >May 13, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >7,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >May 18, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >90,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.15 </TD></TR>
  <TR vAlign=top>
    <TD align=center >May 26, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >10,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.15 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >June 16, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >50,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center >June 21, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >1,500 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%" >$1.00 </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff >June 25, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >67,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff >$1.71
  </TD></TR></TABLE>
<p><BR>
</p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A>
<P align=center>- 16 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 9pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD align=center colSpan=5>&nbsp;&nbsp;&nbsp;<B>Aggregate
      Number and Type</B></TD>
  </TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;<B>Date of Issuance</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="32%"><B>of Securities Issued</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
    width="2%">&nbsp;</TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="32%"><B>Price per Security</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>June 25, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>25,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$2.18  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>June 29, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">6,500 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>June 29, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>4,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$4.77  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>June 30, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">22,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>July 2, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>50,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>July 7, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">5,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>July 8, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>3,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>August 13, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">100,000 Common Shares*</TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$4.25 (deemed) </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center bgColor=#e6efff>August 16, 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>4,000 Common
      Shares </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="32%" bgColor=#e6efff>$1.00  </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>August 17, 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">2,000 Common Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
  <TD align=center width="32%">$1.00 </TD>
  </TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=center>August 31, 2010 </TD>
    <TD width="2%" align=center>&nbsp;</TD>
    <TD width="32%" align=center>4,000 Common Shares </TD>
    <TD width="2%" align=center>&nbsp;</TD>
  <TD width="32%" align=center>$1.00 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>September 13, 2010</TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">4,000 Common
      Shares </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="32%">$1.00  </TD>
  </TR>
  <tr bgcolor="#E6EFFF">
    <td valign="bottom"><p align="center">September    20, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">4,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr>
    <td valign="bottom"><p align="center">September    22, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">500    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr bgcolor="#E6EFFF">
    <td valign="bottom"><p align="center">September    23, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">5,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr>
    <td valign="bottom"><p align="center">September    29, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">1,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr bgcolor="#E6EFFF">
    <td valign="bottom"><p align="center">October    1, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">3,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr>
    <td valign="bottom"><p align="center">October    5, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">11,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr bgcolor="#E6EFFF">
    <td valign="bottom"><p align="center">October    5, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">2,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$4.77</p></td>
  </tr>
  <tr>
    <td valign="bottom"><p align="center">October    6, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">67,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr bgcolor="#E6EFFF">
    <td valign="bottom"><p align="center">October    7, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">11,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$1.00</p></td>
  </tr>
  <tr>
    <td valign="bottom"><p align="center">October    7, 2010</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">4,000    Common Shares</p></td>
    <td valign="bottom">&nbsp;</td>
    <td valign="bottom"><p align="center">$4.77</p></td>
  </tr>
</TABLE>
<P align=justify>Note: <BR>*&nbsp;&nbsp;&nbsp;&nbsp; All common shares were
issued pursuant to the exercise of stock options unless otherwise indicated with
a * </P>
<P align=center><B>TRADING PRICE AND VOLUME </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s common shares are
listed on the TSX and Amex under the trading symbol &#147;TKO&#148; and &#147;TGB&#148;,
respectively. The following tables set forth information relating to the trading
of the common shares on the TSX and Amex for the months indicated. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><FONT size=2>&nbsp; </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="48%"
    colSpan=3><FONT size=2><B>TSX Price Range</B> </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>&nbsp; </FONT></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT
      size=2><B>Month</B> </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><FONT size=2><B>High</B> </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><FONT size=2><B>Low</B> </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><FONT size=2><B>Total Volume</B> </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>September 2009 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>3.02 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>2.52 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>8,694,300
    </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT size=2>October 2009 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>3.35 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>2.62 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>16,444,200 </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>November 2009 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>3.74 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>2.80 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>19,724,700
      </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT size=2>December 2009 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>4.74 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>3.56 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>34,529,100 </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>January 2010 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>5.84 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>4.28 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>34,656,800
      </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT size=2>February 2010 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>5.03 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>4.16 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>21,705,100 </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>March 2010 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>5.36 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>4.74 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>17,347,300
      </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT size=2>April 2010 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>6.19 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>5.33 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>19,376,400 </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>May 2010 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>6.17 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>4.67 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>26,141,300
      </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left><FONT size=2>June 2010 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>5.54 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>4.50 </FONT></TD>
    <TD align=center width="2%"  ><FONT
      size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%"><FONT size=2>10,901,800 </FONT></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff><FONT size=2>July 2010 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>4.49 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>3.27 </FONT></TD>
    <TD align=center width="2%"  bgColor=#e6efff
      ><FONT size=2>&nbsp;</FONT></TD>
    <TD align=center width="23%" bgColor=#e6efff><FONT size=2>19,507,300
      </FONT></TD></TR></TABLE>
<p><BR>
</p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_7></A>
<P align=center>- 17 - </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="48%"
    colSpan=3><B>TSX Price Range</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Month</B> </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><B>High</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><B>Low</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><B>Total Volume</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>August 2010 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4.85 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4.07 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>10,408,800 </TD></TR>
  <TR vAlign=top>
    <TD align=left>September 2010 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=center width="23%">5.55 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">4.44 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">17,219,400 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>October 1 - 7, 2010 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>6.18 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>5.45 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4,252,800
</TD></TR></TABLE>
<p><BR>
</p>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=right width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center width="48%"
    colSpan=3><B>Amex Price Range (in US$)</B> </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="23%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B>Month</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><B>High</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><B>Low</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="23%"><B>Total Volume</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>September 2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>2.85 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>2.27 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>36,075,700 </TD></TR>
  <TR vAlign=top>
    <TD align=left>October 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">3.20 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">2.40 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">42,813,100 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>November 2009 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>3.54 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>2.57 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>59,068,600 </TD></TR>
  <TR vAlign=top>
    <TD align=left>December 2009 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">4.45 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">3.40 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">69,406,300 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>January 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>5.65 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4.10 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>76,051,500 </TD></TR>
  <TR vAlign=top>
    <TD align=left>February 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">4.74 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">3.87 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">51,641,200 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>March 2010 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>5.25 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4.59 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>38,840,700 </TD></TR>
  <TR vAlign=top>
    <TD align=left>April 2010 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">6.21 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">5.25 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">44,072,500 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>May 2010 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>6.05 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4.35 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>71,796,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left>June 2010 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=center width="23%">5.28 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">4.22 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">38,526,300 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>July 2010 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4.36 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>3.31 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>46,334,200 </TD></TR>
  <TR vAlign=top>
    <TD align=left>August 2010 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=center width="23%">4.71 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">3.90 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">31,060,800 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>September 2010 </TD>
    <TD align=left width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>5.40 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>4.28 </TD>
    <TD align=center width="2%" bgColor=#e6efff>&nbsp;</TD>
    <TD align=center width="23%" bgColor=#e6efff>38,134,500 </TD></TR>
  <TR vAlign=top>
    <TD align=left>October 1 - 7, 2010 </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=center width="23%">6.10 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">5.32 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="23%">16,395,800 </TD></TR></TABLE>
<P align=center><B>PLAN OF DISTRIBUTION </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company may sell Securities to or
through underwriters or dealers and also may sell Securities directly to
purchasers or through agents. The distribution of Securities may be effected
from time to time in one or more transactions at a fixed price or prices, which
may be changed, at market prices prevailing at the time of sale, or at prices
related to such prevailing market prices to be negotiated with purchasers and as
set forth in an accompanying prospectus supplement. In connection with the sale
of Securities, underwriters may receive compensation from the Company or from
purchasers of Securities for whom they may act as agents in the form of
discounts, concessions or commissions. Underwriters, dealers and agents that
participate in the distribution of Securities may be deemed to be underwriters
and any discounts or commissions received by them from the Company and any
profit on the resale of Securities by them may be deemed to be underwriting
discounts and commissions under applicable securities legislation. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; If so indicated in the applicable
prospectus supplement, the Company may authorize dealers or other persons acting
as the Company&#146;s agents to solicit offers by certain institutions to purchase
the Securities directly from the Company pursuant to contracts providing for
payment and delivery on a future date. These contracts will be subject only to
the conditions set forth in the applicable prospectus supplement or supplements, which will also set forth the
commission payable for solicitation of these contracts. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_8></A>
<P align=center>- 18 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; This prospectus qualifies Securities.
The specific terms of any offering of Securities will be described in the
applicable prospectus supplement. The prospectus supplement relating to any
offering of Securities will set forth the terms of the offering of the
Securities, including, to the extent applicable, the initial offering price, the
proceeds to the Company, the underwriting discounts or commissions, the currency
in which the Securities may be issued and any other discounts or concessions to
be allowed or reallowed to dealers. Any underwriters involved with respect to
any offering of Securities sold to or through underwriters will be named in the
prospectus supplement relating to such offering. </P>
<P align=center><B>DESCRIPTION OF SECURITIES </B></P>
<P align=justify><B>Common Shares </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The holders of Common Shares are
entitled to receive notice of any meeting of the shareholders of the Company and
to attend and vote thereat, except those meetings at which only the holders
shares of another class or of a particular series are entitled to vote. Each
Common Share entitles its holder to one vote. Subject to the rights of the
holders of preferred shares, the holders of Common Shares are entitled to
receive on a pro-rata basis such dividends as the board of directors may declare
out of funds legally available therefor. In the event of the dissolution,
liquidation, winding-up or other distribution of our assets, such holders are
entitled to receive on a pro-rata basis all of assets of the Company remaining
after payment of all of liabilities, subject to the rights of holders of
preferred shares. The Company&#146;s common shares carry no pre-emptive or conversion
rights. </P>
<P align=justify><B>Warrants </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; This section describes the general
terms that will apply to any Warrants for the purchase of Common Shares. The
Company will not offer Warrants for sale unless the applicable prospectus
supplement containing the specific terms of the Warrants to be offered
separately is first approved, in accordance with applicable laws, for filing by
the securities commissions or similar regulatory authorities in each of the
jurisdictions where the Warrants will be offered for. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Subject to the foregoing, the Company
may issue Warrants independently or together with other securities, and Warrants
sold with other securities may be attached to or separate from the other
securities. Warrants may be issued directly by us to the purchasers thereof or
under one or more warrant indentures or warrant agency agreements to be entered
into by us and one or more banks or trust companies acting as warrant agent.
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; This summary of some of the provisions
of the Warrants is not complete. The statements made in the Prospectus relating
to any warrant agreement and Warrants to be issued under the Prospectus are
summaries of certain anticipated provisions thereof and do not purport to be
complete and are subject to, and are qualified in their entirety by reference
to, all provisions of the applicable warrant agreement. Investors should refer
to the warrant indenture or warrant agency agreement relating to the specific
warrants being offered for the complete terms of the Warrants. A copy of any
warrant indenture or warrant agency agreement relating to an offering of<B>
</B>Warrants will be filed by Taseko with the applicable securities regulatory
authorities in Canada following its execution. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The particular terms of each issue of
Warrants will be described in the applicable prospectus supplement. This
description will include, where applicable: </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_9></A>
<P align=center>- 19 - </P>
<UL>
  <LI>
    <div align="justify">the designation and aggregate number of Warrants;
      <br>
  &nbsp;
    </div>
  <LI>
    <div align="justify">the price at which the Warrants will be offered;
      <br>
    &nbsp;
    </div>
  <LI>
    <div align="justify">the currency or currencies in which the Warrants will be offered;
      <br>
    &nbsp;
    </div>
  <LI>
    <div align="justify">the date on which the right to exercise the Warrants will commence and the
      date on which the right will expire;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the number of common shares that may be purchased upon exercise of each
      Warrant and the price at which and currency or currencies in which the Common
      Shares may be purchased upon exercise of each Warrant;<br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the designation and terms of any securities with which the Warrants will
      be offered, if any, and the number of the Warrants that will be offered with
      each security;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the date or dates, if any, on or after which the Warrants and the related
      securities will be transferable separately;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether the Warrants will be subject to redemption and, if so, the terms
      of such redemption provisions;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">material Canadian and United States federal income tax consequences of
      owning the Warrants; and
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">any other material terms or conditions of the Warrants. </div>
  </LI></UL>
<P align=justify><B>Subscription Receipts </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; This section describes the general
terms that will apply to any subscription receipts that may be offered by the
Company pursuant to the Prospectus. Subscription receipts may be offered
separately or together with Common Shares or Warrants, as the case may be. The
subscription receipts will be issued under a subscription receipt agreement.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; In the event the Company issues
subscription receipts, the Company will provide the original purchasers of
subscription receipts a contractual right of rescission exercisable following
the issuance of common shares to such purchasers. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The applicable prospectus supplement
will include details of the subscription receipt agreement covering the
subscription receipts being offered. A copy of the subscription receipt
agreement relating to an offering of subscription receipts will be filed by the
Company with the applicable securities regulatory authorities after it has been
entered into by the Company. The specific terms of the subscription receipts,
and the extent to which the general terms described in this section apply to
those subscription receipts, will be set forth in the applicable prospectus
supplement. This description will include, where applicable: </P>
<UL>
  <LI>
    <div align="justify">the number of subscription receipts;
      <br>
    &nbsp;
    </div>
  <LI>
    <div align="justify">the price at which the subscription receipts will be offered;
      <br>
    &nbsp;
    </div>
  <LI>
    <div align="justify">the procedures for the exchange of the subscription receipts into Common
      Shares or Warrants; </div>
  </LI></UL>
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<P align=center>- 20 - </P>
<UL>
  <LI>
    <div align="justify">the number of Common Shares or Warrants that may be exchanged upon
      exercise of each subscription receipt;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the designation and terms of any other securities with which the
      subscription receipts will be offered, if any, and the number of subscription
      receipts that will be offered with each security;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">terms applicable to the gross or net proceeds from the sale of the
      subscription receipts plus any interest earned thereon;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">material Canadian and United States income tax consequences of owning the
      subscription receipts; and
      <br>
      &nbsp;
    </div>
  <LI>
    <div align="justify">any other material terms and conditions of the subscription receipts.</div>
</LI></UL>
<P align=justify><B>Description of Debt Securities </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company may issue debt securities
(&#147;Debt Securities&#148;) in one or more series under an indenture (the &#147;Indenture&#148;),
to be entered into among the Company, a Canadian trustee and a U.S. trustee. The
Indenture will be subject to and governed by the United States Trust Indenture
Act of 1939, as amended (the &#147;Trust Indenture Act&#148;). A copy of the form of the
Indenture will be filed with the SEC as an exhibit to the registration statement
of which this Prospectus forms a part. The following description sets forth
certain general material terms and provisions of the Debt Securities and is not
intended to be complete. For a more complete description, prospective investors
should refer to the Indenture and the terms of the Debt Securities. If Debt
Securities are issued, the Company will describe in the applicable Prospectus
Supplement the particular terms and provisions of any series of the Debt
Securities and a description of how the general terms and provisions described
below may apply to that series of the Debt Securities. Prospective investors
should rely on information in the applicable Prospectus Supplement and not on
the following information to the extent that the information in such Prospectus
Supplement is different from the following information. The Company will file as
exhibits to the registration statement of which this Prospectus is a part, or
will incorporate by reference from a report on Form 6-K that the Company
furnishes to the SEC, any supplemental indenture describing the terms and
conditions of Debt Securities the Company is offering before the issuance of
such Debt Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company may issue debt securities
and incur additional indebtedness other than through the offering of Debt
Securities pursuant to this Prospectus. </P>
<P align=justify><U>General</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Indenture will not limit the
aggregate principal amount of Debt Securities that the Company may issue under
the Indenture and will not limit the amount of other indebtedness that the
Company may incur. The Indenture will provide that the Company may issue Debt
Securities from time to time in one or more series and may be denominated and
payable in U.S. dollars, Canadian dollars or any foreign currency. Unless
otherwise indicated in the applicable Prospectus Supplement, the Debt Securities
will be unsecured obligations of the Company. The Indenture will also permit the
Company to increase the principal amount of any series of the Debt Securities
previously issued and to issue that increased principal amount. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The applicable Prospectus Supplement
for any series of Debt Securities that the Company offers will describe the
specific terms of the Debt Securities and may include, but is not limited to,
any of the following: </P>
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<P align=center>- 21 - </P>
<UL>
  <LI>
    <div align="justify">the title of the Debt Securities;
      <br>
    &nbsp;
    </div>
  <LI>
    <div align="justify">the aggregate principal amount of the Debt Securities;
      <br>
    &nbsp;
    </div>
  <LI>
    <div align="justify">the percentage of principal amount at which the Debt Securities will be
      issued;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether payment of principal, interest and premium, if any, on the Debt
      Securities will be senior or subordinated to the Company&#146;s other liabilities
      or obligations; <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether payment of the Debt Securities will be guaranteed by any other
      person;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the date or dates, or the methods by which such dates will be determined
      or extended, on which the Company may issue the Debt Securities and the date
      or dates, or the methods by which such dates will be determined or extended,
      on which the Company will pay the principal on the Debt Securities and the
      portion (if less than the principal amount) of Debt Securities to be payable
      upon a declaration of acceleration of maturity;
      <br>
      &nbsp;
    </div>
  <LI>
    <div align="justify">whether the Debt Securities will bear interest, the interest rate (whether
      fixed or variable) or the method of determining the interest rate, the date
      from which interest will accrue, the dates on which the Company will pay
      interest and the record dates for interest payments, or the methods by which
      such dates will be determined;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the place or places the Company will pay principal, premium and interest,
      if any, and the place or places where Debt Securities can be presented for
      registration of transfer, exchange or conversion;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether and under what circumstances the Company will be required to pay
      any additional amounts for withholding or deduction for Canadian taxes with
      respect to the Debt Securities, and whether and on what terms the Company will
      have the option to redeem the Debt Securities rather than pay the additional
      amounts;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether the Company will be obligated to redeem, repay or repurchase the
      Debt Securities pursuant to any sinking or other provision, or at the option
      of a holder and the terms and conditions of such redemption, repayment or
      repurchase;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether the Company may redeem the Debt Securities, in whole or in part,
      prior to maturity and the terms and conditions of any such redemption;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the denominations in which the Company will issue any registered Debt
      Securities, if other than denominations of $1,000 and any multiple of $l,000
      and, if other than denominations of $5,000, the denominations in which any
      unregistered Debt Security shall be issuable;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether the Company will make payments on the Debt Securities in a
      currency other than U.S. dollars;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether payments on the Debt Securities will be payable with reference to
      any index, formula or other method; </div>
  </LI></UL>
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<P align=center>- 22 - </P>
<UL>
  <LI>
    <div align="justify">whether the Company will issue the Debt Securities as global securities
      and, if so, the identity of the depositary for the global securities;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether the Company will issue the Debt Securities as unregistered
      securities, registered securities or both;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">any changes or additions to, or deletions of, events of default or
      covenants whether or not such events of default or covenants are consistent
      with the events of default or covenants in the Indenture;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the applicability of, and any changes or additions to, the provisions for
      defeasance described under &#147;Defeasance&#148; below; <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">whether the holders of any series of Debt Securities have special rights
      if specified events occur;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the terms, if any, for any conversion or exchange of the Debt Securities
      for any other securities;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">provisions as to modification, amendment or variation of any rights or
      terms attaching to the Debt Securities; and
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">any other terms, conditions, rights and preferences (or limitations on
      such rights and preferences). </div>
  </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Unless stated otherwise in the
applicable Prospectus Supplement, no holder of Debt Securities will have the
right to require the Company to repurchase the Debt Securities and there will be
no increase in the interest rate if the Company becomes involved in a highly
leveraged transaction or the Company has a change of control. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company may issue Debt Securities
bearing no interest or interest at a rate below the prevailing market rate at
the time of issuance, and offer and sell the Debt Securities at a discount below
their stated principal amount. The Company may also sell any of the Debt
Securities for a foreign currency or currency unit, and payments on the Debt
Securities may be payable in a foreign currency or currency unit. In any of
these cases, the Company will describe certain Canadian federal and U.S. federal
income tax consequences and other special considerations in the applicable
Prospectus Supplement. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company may issue Debt Securities
with terms different from those of Debt Securities previously issued and,
without the consent of the holders thereof, the Company may reopen a previous
issue of a series of Debt Securities and issue additional Debt Securities of
such series (unless the reopening was restricted when such series was created).
</P>
<P align=justify><U>Ranking and Other Indebtedness</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise indicated in an
applicable Prospectus Supplement, the Debt Securities will be unsecured
obligations and will rank equally with all of the Company&#146;s other unsecured and
other subordinated debt from time to time outstanding and equally with other
Debt Securities issued under the Indenture. The Indenture will provide that the
Debt Securities will be subordinated to and junior in right of payment to all
present and future Senior Indebtedness. &#147;Senior Indebtedness&#148; will be defined in
the Indenture as: (a) all indebtedness of the Company in respect of borrowed
money, other than: (i) indebtedness evidenced by the Debt Securities; and (ii)
indebtedness which, by the terms of the instrument creating or evidencing it, is
expressed to rank in right of payment equally with or subordinate to the
indebtedness evidenced by the Debt Securities; (b) all obligations of the
Company for the reimbursement of amounts paid pursuant to any letter of credit,
banker&#146;s acceptance or similar credit transaction; and (c) all obligations of
the type referred to in paragraphs (a) through (b) above of other persons for
the payment of which the Company is responsible or liable as obligor, guarantor
or otherwise. For greater certainty, &#147;Senior Indebtedness&#148; will include all
indebtedness of the Company for borrowed money which is outstanding as at the
date of the Indenture. </P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company&#146;s Board of Directors may
establish the extent and manner, if any, to which payment on or in respect of a
series of Debt Securities will be senior or will be subordinated to the prior
payment of the Company&#146;s other liabilities and obligations, other than Senior
Indebtedness, and whether the payment of principal, premium, if any, and
interest, if any, will be guaranteed by any other person and the nature and
priority of any security. </P>
<P align=justify><U>Debt Securities in Global Form</U> </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp; The Depositary and Book-Entry</I></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise specified in the
applicable Prospectus Supplement, a series of the Debt Securities may be issued
in whole or in part in global form as a &#147;global security&#148; and will be registered
in the name of or issued in bearer form and be deposited with a depositary, or
its nominee, each of which will be identified in the applicable Prospectus
Supplement relating to that series. Unless and until exchanged, in whole or in
part, for the Debt Securities in definitive registered form, a global security
may not be transferred except as a whole by the depositary for such global
security to a nominee of the depositary, by a nominee of the depositary to the
depositary or another nominee of the depositary or by the depositary or any such
nominee to a successor of the depositary or a nominee of the successor. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The specific terms of the depositary
arrangement with respect to any portion of a particular series of the Debt
Securities to be represented by a global security will be described in the
applicable Prospectus Supplement relating to such series. The Company
anticipates that the provisions described in this section will apply to all
depositary arrangements. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Upon the issuance of a global
security, the depositary therefor or its nominee will credit, on its book entry
and registration system, the respective principal amounts of the Debt Securities
represented by the global security to the accounts of such persons, designated
as &#147;participants&#148;, having accounts with such depositary or its nominee. Such
accounts shall be designated by the underwriters, dealers or agents
participating in the distribution of the Debt Securities or by the Company if
such Debt Securities are offered and sold directly by the Company. Ownership of
beneficial interests in a global security will be limited to participants or
persons that may hold beneficial interests through participants. Ownership of
beneficial interests in a global security will be shown on, and the transfer of
that ownership will be effected only through, records maintained by the
depositary therefor or its nominee (with respect to interests of participants)
or by participants or persons that hold through participants (with respect to
interests of persons other than participants). The laws of some states in the
United States may require that certain purchasers of securities take physical
delivery of such securities in definitive form. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; So long as the depositary for a global
security or its nominee is the registered owner of the global security or holder
of a global security in bearer form, such depositary or such nominee, as the
case may be, will be considered the sole owner or holder of the Debt Securities
represented by the global security for all purposes under the Indenture. Except
as provided below, owners of beneficial interests in a global security will not
be entitled to have a series of the Debt Securities represented by the global
security registered in their names, will not receive or be entitled to
receive physical delivery of such series of the Debt Securities in definitive
form and will not be considered the owners or holders thereof under the
Indenture. </P>
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<P align=center>- 24 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Any payments of principal, premium, if
any, and interest, if any, on global securities registered in the name of a
depositary or securities registrar will be made to the depositary or its
nominee, as the case may be, as the registered owner of the global security
representing such Debt Securities. None of the Company, any trustee or any
paying agent for the Debt Securities represented by the global securities will
have any responsibility or liability for any aspect of the records relating to
or payments made on account of beneficial ownership interests of the global
security or for maintaining, supervising or reviewing any records relating to
such beneficial ownership interests. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company expects that the
depositary for a global security or its nominee, upon receipt of any payment of
principal, premium, if any, or interest, if any, will credit participants&#146;
accounts with payments in amounts proportionate to their respective beneficial
interests in the principal amount of the global security as shown on the records
of such depositary or its nominee. The Company also expects that payments by
participants to owners of beneficial interests in a global security held through
such participants will be governed by standing instructions and customary
practices, as is now the case with securities held for the accounts of customers
registered in &#147;street name&#148;, and will be the responsibility of such
participants. </P>
<P align=justify><I>&nbsp;&nbsp;&nbsp;&nbsp; Discontinuance of Depositary&#146;s Services</I></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; If a depositary for a global security
representing a particular series of the Debt Securities is at any time unwilling
or unable to continue as depositary or, if at any time the depositary for such
series shall no longer be registered or in good standing under the Exchange Act,
and a successor depositary is not appointed by us within 90 days, the Company
will issue such series of the Debt Securities in definitive form in exchange for
a global security representing such series of the Debt Securities. If an event
of default under the Indenture has occurred and is continuing, Debt Securities
in definitive form will be printed and delivered upon written request by the
holder to the appropriate trustee. In addition, the Company may at any time and
in the Company&#146;s sole discretion determine not to have a series of the Debt
Securities represented by a global security and, in such event, will issue a
series of the Debt Securities in definitive form in exchange for all of the
global securities representing that series of Debt Securities. </P>
<P align=justify><U>Debt Securities in Definitive Form</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; A series of the Debt Securities may be
issued in definitive form, solely as registered securities, solely as
unregistered securities or as both registered securities and unregistered
securities. Registered securities will be issuable in denominations of $1,000
and integral multiples of $1,000 and unregistered securities will be issuable in
denominations of $5,000 and integral multiples of $5,000 or, in each case, in
such other denominations as may be set out in the terms of the Debt Securities
of any particular series. Unless otherwise indicated in the applicable
Prospectus Supplement, unregistered securities will have interest coupons
attached. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise indicated in the
applicable Prospectus Supplement, payment of principal, premium, if any, and
interest, if any, on the Debt Securities (other than global securities) will be
made at the office or agency designated by the Company, or at the Company&#146;s
option the Company can pay principal, interest, if any, and premium, if any, by
check mailed to the address of the person entitled at the address appearing in
the security register of the trustee or electronic funds wire transfer to an
account of persons who meet certain thresholds set out in the Indenture who are
entitled to receive payments by wire transfer. Unless otherwise indicated in the applicable
Prospectus Supplement, payment of interest, if any, will be made to the persons
in whose name the Debt Securities are registered at the close of business on the
day or days specified by the Company. </P>
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<P align=center>- 25 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; At the option of the holder of Debt
Securities, registered securities of any series will be exchangeable for other
registered securities of the same series, of any authorized denomination and of
a like aggregate principal amount. If, but only if, provided in an applicable
Prospectus Supplement, unregistered securities (with all unmatured coupons,
except as provided below, and all matured coupons in default) of any series may
be exchanged for registered securities of the same series, of any authorized
denominations and of a like aggregate principal amount and tenor. In such event,
unregistered securities surrendered in a permitted exchange for registered
securities between a regular record date or a special record date and the
relevant date for payment of interest shall be surrendered without the coupon
relating to such date for payment of interest, and interest will not be payable
on such date for payment of interest in respect of the registered security
issued in exchange for such unregistered security, but will be payable only to
the holder of such coupon when due in accordance with the terms of the
Indenture. Unless otherwise specified in an applicable Prospectus Supplement,
unregistered securities will not be issued in exchange for registered
securities. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The applicable Prospectus Supplement
may indicate the places to register a transfer of the Debt Securities in
definitive form. Service charges may be payable by the holder for any
registration of transfer or exchange of the Debt Securities in definitive form,
and the Company may, in certain instances, require a sum sufficient to cover any
tax or other governmental charges payable in connection with these transactions.
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company shall not be required to: </P>
<UL>
  <LI>
    <div align="justify">issue, register the transfer of or exchange any series of the Debt
      Securities in definitive form during a period beginning at the opening of 15
      days before any selection of securities of that series of the Debt Securities
      to be redeemed and ending on the relevant date of notice of such redemption,
      as provided in the Indenture;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">register the transfer of or exchange any registered security in definitive
      form, or portion thereof, called for redemption, except the unredeemed portion
      of any registered security being redeemed in part;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">exchange any unregistered security called for redemption except to the
      extent that such unregistered security may be exchanged for a registered
      security of that series and like tenor; provided that such registered security
      will be simultaneously surrendered for redemption; or
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">issue, register the transfer of or exchange any of the Debt Securities in
      definitive form which have been surrendered for repayment at the option of the
      holder, except the portion, if any, of such Debt Securities not to be so
      repaid. </div>
  </LI></UL>
<P align=justify><U>Merger, Amalgamation or Consolidation</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Indenture will provide that the
Company may not amalgamate or consolidate with, merge into or enter into any
statutory arrangement with any other person or, directly or indirectly, convey,
transfer or lease all or substantially all of the Company&#146;s properties and
assets to another person, unless among other items: </P>
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<P align=center>- 26 - </P>
<UL>
  <LI>
    <div align="justify">the resulting, surviving or transferee person is organized and existing
      under the laws of Canada, or any province or territory thereof, the United
      States, any state thereof or the District of Columbia, or, if the
      amalgamation, merger, consolidation, statutory arrangement or other
      transaction would not impair the rights of holders, any other country;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the resulting, surviving or transferee person, if other than the Company,
      assumes all of the Company&#146;s obligations under the Debt Securities and the
      Indenture; and <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">immediately after the transaction, no default or event of default under
      the Indenture shall have happened and be continuing.
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">When such a successor person assumes the Company&#146;s obligations in such
      circumstances, subject to certain exceptions, the Company shall be discharged
      from all obligations and covenants under the Debt Securities and the
      Indenture. </div>
  </LI></UL>
<P align=justify><U>Additional Amounts</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise specified in the
applicable Prospectus Supplement, all payments made by or on behalf of the
Company under or with respect to the Debt Securities issued in Canada of any
series will be made free and clear of and without withholding or deduction for
or on account of any present or future tax, duty, levy, impost, assessment or
other government charge (including penalties, interest and other liabilities
related thereto) imposed or levied by or on behalf of the Government of Canada
or of any province or territory thereof or by any authority or agency therein or
thereof having power to tax (&#147;Canadian Taxes&#148;), unless the Company is required
to withhold or deduct Canadian Taxes by law or by the interpretation or
administration thereof by the relevant government authority or agency. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; If the Company is so required to
withhold or deduct any amount for or on account of Canadian Taxes from any
payment made under or with respect to the Debt Securities issued in Canada, the
Company will pay as additional interest such additional amounts (the &#147;Additional
Amounts&#148;) as may be necessary so that the net amount received by a holder of the
Debt Securities issued in Canada after such withholding or deduction will not be
less than the amount such holder of the Debt Securities issued in Canada would
have received if such Canadian Taxes had not been withheld or deducted (a
similar payment will also be made to holders of the Debt Securities issued in
Canada, other than excluded holders (as defined herein), that are exempt from
withholding but required to pay tax under Part XIII of the <I>Income Tax Act
</I>(Canada) (the &#147;Tax Act&#148;), directly on amounts otherwise subject to
withholding); provided, however, that no additional amounts will be payable with
respect to a payment made to a holder (an &#147;excluded holder&#148;) if the holder of
the Debt Securities issued in Canada or the beneficial owner of some or all of
the payment to the holder: </P>
<UL>
  <LI>
    <div align="justify">does not deal at arm&#146;s length with the Company (for purposes of the Tax
      Act) at the time of the making of such payment; <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">is subject to such Canadian Taxes by reason of the Debt Securities
      holder&#146;s failure to comply with any certification, identification,
      information, documentation or other reporting requirement if compliance is
      required by law, regulation, administrative practice or an applicable treaty
      as a precondition to exemption from, or a reduction in the rate of deduction
      or withholding of, such Canadian Taxes; <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">is subject to such Canadian Taxes by reason of the Debt Securities holder
      being a resident, domicile or national of, or engaged in business or
      maintaining a permanent establishment or other presence in or otherwise having some connection with Canada or any
      province or territory thereof otherwise than by the mere holding of the Debt
      Securities or the receipt of payments thereunder; or </div>
  </LI></UL>
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<P align=center>- 27 - </P>
<UL>
  <LI>
    <div align="justify">is subject to such Canadian Taxes because it is not entitled to the
      benefit of an otherwise applicable tax treaty by reason of the legal nature of
      such holder of the Debt Securities. </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company will make such withholding
or deduction and remit the full amount deducted or withheld to the relevant
authority as and when required in accordance with applicable law. The Company
will pay all taxes, interest and other liabilities which arise by virtue of any
failure of the Company to withhold, deduct and remit to the relevant authority
on a timely basis the full amounts required in accordance with applicable law.
The Company will furnish to the holder of the Debt Securities issued in Canada,
within 60 days after the date the payment of any Canadian Taxes is due pursuant
to applicable law, certified copies of tax receipts evidencing such payment by
the Company. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The foregoing obligations shall
survive any termination, defeasance or discharge of the Indenture.</P>
<P align=justify><U>Tax Redemption</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; If and to the extent specified in the
applicable Prospectus Supplement, the Debt Securities issued in Canada of a
series will be subject to redemption at any time, in whole but not in part, at a
redemption price equal to the principal amount thereof together with accrued and
unpaid interest to the date fixed for redemption, upon the giving of a notice,
if (1) the Company determines that (a) as a result of any change in or amendment
to the laws (or any regulations or rulings promulgated thereunder) of Canada or
of any political subdivision or taxing authority thereof or therein affecting
taxation, or any change in position regarding application or interpretation of
such laws, regulations or rulings (including a holding by a court of competent
jurisdiction), which change or amendment is announced or becomes effective on or
after a date specified in the applicable Prospectus Supplement if any date is so
specified, the Company has or will become obligated to pay, on the next
succeeding date on which interest is due, Additional Amounts with respect to any
Debt Security issued in Canada of such series or (b) on or after a date
specified in the applicable Prospectus Supplement, any action has been taken by
any taxing authority of, or any decision has been rendered by a court of
competent jurisdiction in, Canada or any political subdivision or taxing
authority thereof or therein, including any of those actions specified in (a)
above, whether or not such action was taken or decision was rendered with
respect to the Company, or any change, amendment, application or interpretation
shall be proposed, which, in any such case, in the opinion of counsel to the
Company, will result in the Company&#146;s becoming obligated to pay, on the next
succeeding date on which interest is due, Additional Amounts with respect to any
Debt Security issued in Canada of such series and (2) in any such case, the
Company, in its business judgment, determines that such obligation cannot be
avoided by the use of reasonable measures available to it; provided however,
that (i) no such notice of redemption may be given earlier than 90 days prior to
the earliest date on which the Company would be obligated to pay such Additional
Amounts were a payment in respect of the Debt Securities issued in Canada then
due, and (ii) at the time such notice of redemption is given, such obligation to
pay such Additional Amounts remains in effect. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; In the event that the Company elects
to redeem the Debt Securities issued in Canada of such series pursuant to the
provisions set forth in the preceding paragraph, the Company shall deliver to
the trustees a certificate, signed by an authorized officer, stating that the
Company is entitled to redeem the Debt Securities issued in Canada of such
series pursuant to their terms. </P>
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<P align=center>- 28 - </P>
<P align=justify><U>Provision of Financial Information</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; The Company will file with the
trustees, within 20 days after it files or furnishes them with the SEC, copies
of the Company&#146;s annual reports and of the information, documents and other
reports (or copies of such portions of any of the foregoing as the SEC may by
rules and regulations prescribe) which the Company is required to file or
furnish with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Notwithstanding that the Company may
not remain subject to the reporting requirements of Section 13 or 15(d) of the
Exchange Act or otherwise report on an annual basis on forms provided for such
annual reporting pursuant to rules and regulations promulgated by the SEC, the
Company will continue to provide the trustees: </P>
<UL>
  <LI>within 20 days after the time periods required for the filing or
  furnishing of such forms by the Commission, annual reports on Form 20-F or
  Form 40-F, as applicable, or any successor form, quarterly reports as
  furnished to the Commission on Form 6-K or any successor form, and copies of
  Canadian material change reports as furnished to the Commission on Form 6-K or
any successor form. </LI></UL>
<P align=justify><U>Events of Default</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Unless otherwise specified in the
applicable Prospectus Supplement relating to a particular series of Debt
Securities, the following is a summary of events which will, with respect to any
series of the Debt Securities, constitute an event of default under the
Indenture with respect to the Debt Securities of that series: </P>
<UL>
  <LI>the Company fails to pay principal of, or any premium on, or any
  Additional Amounts in respect of, any Debt Security of that series when it is
  due and payable;
    <br>
  &nbsp;
  <LI>
    <div align="justify">the Company fails to pay interest (including Additional Amounts) payable
      on any Debt Security of that series when it becomes due and payable, and such
      default continues for 30 days;    <br>
    &nbsp;</div>
  <LI>
    <div align="justify">the Company fails to make any required sinking fund or analogous payment
      when due for that series of Debt Securities;    <br>
    &nbsp;</div>
  <LI>
    <div align="justify">the Company fails to observe or perform any of its covenants or agreements
      in the Indenture that affect or are applicable to the Debt Securities of that
      series for 90 days after written notice to the Company by the trustees or to
      the Company and the trustees by holders of at least 25% in aggregate principal
      amount of the outstanding Debt Securities of that series;    <br>
    &nbsp;</div>
  <LI>
    <div align="justify">a default (as defined in any indenture or instrument under which the
      Company or one of the Company&#146;s subsidiaries has at the date of the Indenture
      or will thereafter have outstanding any indebtedness) has occurred and is
      continuing, or the Company or any of its subsidiaries has failed to pay
      principal amounts with respect to such indebtedness at maturity and such event
      of default or failure to pay has resulted in such indebtedness under such
      indenture or instrument being declared due, payable or otherwise being
      accelerated, in either event so that an amount in excess of the greater of
      US$15,000,000 and 2% of the Company&#146;s shareholders&#146; equity will be or become
      due, payable and accelerated upon such declaration or prior to the date on
      which the same would otherwise have become due, payable and accelerated (the
      &#147;Accelerated Indebtedness&#148;), and such acceleration will not be rescinded or
      annulled, or such event of default or failure to pay under such indenture or instrument will not be
      remedied or cured, whether by payment or otherwise, or waived by the holders
      of such Accelerated Indebtedness, then (i) if the Accelerated Indebtedness
      will be as a result of an event of default which is not related to the failure
      to pay principal or interest on the terms, at the times, and on the conditions
      set out in any such indenture or instrument, it will not be considered an
      event of default for the purposes of the indenture governing the Debt
      Securities until 30 days after such indebtedness has been accelerated, or (ii)
      if the Accelerated Indebtedness will occur as a result of such failure to pay
      principal or interest or as a result of an event of default which is related
      to the failure to pay principal or interest on the terms, at the times, and on
      the conditions set out in any such indenture or instrument, then (A) if such
      Accelerated Indebtedness is, by its terms, non-recourse to the Company or its
      subsidiaries, it will be considered an event of default for purposes of the
      Indenture governing the Debt Securities; or (B) if such Accelerated
      Indebtedness is recourse to the Company or its subsidiaries, any requirement
      in connection with such failure to pay or event of default for the giving of
      notice or the lapse of time or the happening of any further condition, event
      or act under such indenture or instrument in connection with such failure to
      pay or event of default will be applicable together with an additional seven
      days before being considered an event of default for the purposes of the
      Indenture; </div>
  </LI>
</UL>
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<p align="center">- 29 -</p>

<!--$$/page=--><A name=page_1></A>
<UL>
  <LI>
  <p style="margin-bottom: 0">certain events involving the Company&#146;s bankruptcy, insolvency or
  reorganization; and
    <br>
    &nbsp;
  <LI>
    <div align="justify">any other event of default provided for in that series of Debt Securities.  </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A default under one series of
Debt Securities will not necessarily be a default under another series. A
trustee may withhold notice to the holders of the Debt Securities of any
default, except in the payment of principal or premium, if any, or interest, if
any, if in good faith it considers it in the interests of the holders to do so
and so advises the Company in writing. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an event of default (except
for events involving the Company&#146;s bankruptcy, insolvency or reorganization) for
any series of Debt Securities occurs and continues, a trustee or the holders of
at least 25% in aggregate principal amount of the Debt Securities of that series
may require the Company to repay immediately: </P>
<UL>
  <LI>
  <p align="justify" style="margin-bottom: 0">the entire principal and interest of the Debt Securities of the series; or

    <br>
    &nbsp;
  <LI>
    <div align="justify">if the Debt Securities are discounted securities, that portion of the
      principal as is described in the applicable Prospectus Supplement. </div>
  </LI></UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an event of default relates to
events involving the Company&#146;s bankruptcy, insolvency or reorganization, the
principal of all Debt Securities will become immediately due and payable without
any action by the trustee or any holder.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to certain conditions,
the holders of a majority of the aggregate principal amount of the Debt
Securities of the affected series can rescind and annul an accelerated payment
requirement. If Debt Securities are discounted securities, the applicable
Prospectus Supplement will contain provisions relating to the acceleration of
maturity of a portion of the principal amount of the discounted securities upon
the occurrence or continuance of an event of default. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other than its duties in case of
a default, a trustee is not obligated to exercise any of the rights or powers
that it will have under the Indenture at the request or direction of any
holders, unless the holders offer the trustee reasonable security or indemnity. If they
provide this reasonable security or indemnity, the holders of a majority in
aggregate principal amount of any series of Debt Securities may, subject to
certain limitations, direct the time, method and place of conducting any
proceeding for any remedy available to a trustee, or exercising any trust or
power conferred upon a trustee, for any series of Debt Securities. </P>
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<P align=center>- 30 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will be required to
furnish to the trustees a statement annually as to its compliance with all
conditions and covenants under the Indenture and, if the Company is not in
compliance, the Company must specify any defaults. The Company will also be
required to notify the trustees as soon as practicable upon becoming aware of
any event of default. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No holder of a Debt Security of
any series will have any right to institute any proceeding with respect to the
Indenture, or for the appointment of a receiver or a trustee, or for any other
remedy, unless: </P>
<UL>
  <LI>the holder has previously given to the trustees written notice of a
  continuing event of default with respect to the Debt Securities of the
  affected series;
    <br>
    &nbsp;
  <LI>
    <div align="justify">the holders of at least 25% in principal amount of the outstanding Debt
      Securities of the series affected by an event of default have made a written
      request, and the holders have offered reasonable indemnity, to the trustees to
      institute a proceeding as trustees; and
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the trustees have failed to institute a proceeding, and have not received
      from the holders of a majority in aggregate principal amount of the
      outstanding Debt Securities of the series affected (or in the case of
      bankruptcy, insolvency or reorganization, all series outstanding) by an event
      of default a direction inconsistent with the request, within 60 days after
      receipt of the holders&#146; notice, request and offer of indemnity. </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;However, such above-mentioned
limitations do not apply to a suit instituted by the holder of a Debt Security
for the enforcement of payment of the principal of or any premium, if any, or
interest on such Debt Security on or after the applicable due date specified in
such Debt Security. </P>
<P align=justify><U>Defeasance</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When the Company uses the term
&#147;defeasance&#148;, it means discharge from its obligations with respect to any Debt
Securities of or within a series under the Indenture. Unless otherwise specified
in the applicable Prospectus Supplement, if the Company deposits with a trustee
cash, government securities or a combination thereof sufficient to pay the
principal, interest, if any, premium, if any, and any other sums due to the
stated maturity date or a redemption date of the Debt Securities of a series,
then at the Company&#146;s option: </P>
<UL>
  <LI>
    <div align="justify">the Company will be discharged from the obligations with respect to the
      Debt Securities of that series; or
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the Company will no longer be under any obligation to comply with certain
      restrictive covenants under the Indenture and certain events of default will
      no longer apply to the Company. </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this happens, the holders of
the Debt Securities of the affected series will not be entitled to the benefits
of the Indenture except for registration of transfer and exchange of Debt
Securities and the replacement of lost, stolen, destroyed or mutilated Debt
Securities. These holders may look only to the deposited fund for payment on
their Debt Securities. </P>
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<P align=center>- 31 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; To exercise the defeasance option, the
Company must deliver to the trustees: </P>
<UL>
  <LI>
    <div align="justify">an opinion of counsel in the United States to the effect that the holders
      of the outstanding Debt Securities of the affected series will not recognize
      income, gain or loss for U.S. federal income tax purposes as a result of a
      defeasance and will be subject to U.S. federal income tax on the same amounts,
      in the same manner and at the same times as would have been the case if the
      defeasance had not occurred;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">an opinion of counsel in Canada or a ruling from the Canada Revenue Agency
      to the effect that the holders of the outstanding Debt Securities of the
      affected series will not recognize income, gain or loss for Canadian federal,
      provincial or territorial income or other tax purposes as a result of a
      defeasance and will be subject to Canadian federal, provincial or territorial
      income tax and other tax on the same amounts, in the same manner and at the
      same times as would have been the case had the defeasance not occurred; and
      <br>
      &nbsp;
    </div>
  <LI>
    <div align="justify">a certificate of one of the Company&#146;s officers and an opinion of counsel,
      each stating that all conditions precedent provided for relating to defeasance
      have been complied with. </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company is to be
discharged from its obligations with respect to the Debt Securities, and not
just from the Company&#146;s covenants, the U.S. opinion must be based upon a ruling
from or published by the United States Internal Revenue Service or a change in
law to that effect. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the delivery of
the opinions described above, the following conditions must be met before the
Company may exercise its defeasance option: </P>
<UL>
  <LI>
    <div align="justify">no event of default or event that, with the passing of time or the giving
      of notice, or both, shall constitute an event of default shall have occurred
      and be continuing for the Debt Securities of the affected series;
      <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">the Company is not an &#147;insolvent person&#148; within the meaning of applicable
      bankruptcy and insolvency legislation; and <br>
      &nbsp;
      </div>
  <LI>
    <div align="justify">other customary conditions precedent are satisfied. </div>
  </LI></UL>
<P align=justify><U>Modification and Waiver</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Modifications and amendments of
the Indenture may be made by the Company and the trustees pursuant to one or
more Supplemental Indentures (a &#147;Supplemental Indenture&#148;) with the consent of
the holders of at least a majority in aggregate principal amount of the
outstanding Debt Securities of each series affected by the modification.
However, without the consent of each holder affected, no such modification may:
</P>
<UL>
  <LI>
    <div align="justify">change the stated&nbsp; maturity of the principal of, premium, if any, or any
      instalment of interest, if any, on any Debt Security; </div>
  </LI></UL>
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<P align=center>- 32 - </P>
<UL>
  <LI>
    <div align="justify">reduce the principal, premium, if any, or rate of interest, if any, or
      change any obligation of the Company to pay any Additional Amounts;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">reduce the amount of principal of a debt security payable upon
      acceleration of its maturity or the amount provable in bankruptcy;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">change the place or currency of any payment;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">affect the holder&#146;s right to require the Company to repurchase the Debt
      Securities at the holder&#146;s option; <br>
    &nbsp;</div>
  <LI>
    <div align="justify">impair the right of the holders to institute a suit to enforce their
      rights to payment;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">adversely affect any conversion or exchange right related to a series of
      Debt Securities;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">reduce the percentage of Debt Securities required to modify the Indenture
      or to waive compliance with certain provisions of the Indenture; or
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">reduce the percentage in principal amount of outstanding Debt Securities
      necessary to take certain actions. </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The holders of at least a
majority in principal amount of outstanding Debt Securities of any series may on
behalf of the holders of all Debt Securities of that series waive, insofar as
only that series is concerned, past defaults under the Indenture and compliance
by the Company with certain restrictive provisions of the Indenture. However,
these holders may not waive a default in any payment of principal, premium, if
any, or interest on any Debt Security or compliance with a provision that cannot
be modified without the consent of each holder affected. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may modify the
Indenture pursuant to a Supplemental Indenture without the consent of any
holders to: </P>
<UL>
  <LI>
    <div align="justify">evidence its successor under the Indenture;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">add covenants of the Company or surrender any right or power of the
      Company for the benefit of holders;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">add events of default;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">provide for unregistered securities to become registered securities under
      the Indenture and make other such changes to unregistered securities that in
      each case do not materially and adversely affect the interests of holders of
      outstanding Debt Securities;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">establish the forms of the Debt Securities;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">appoint a successor trustee under the Indenture;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">add provisions to permit or facilitate the defeasance and discharge of the
      Debt Securities as long as there is no material adverse effect on the holders;
    </div>
  </LI>
</UL>
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<P align=center>- 33 - </P>
<UL>
  <LI>
    <div align="justify">cure any ambiguity, correct or supplement any defective or inconsistent
      provision or make any other provisions in each case that would not materially
      and adversely affect the interests of holders of outstanding Debt Securities,
      if any;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">comply with any applicable laws of the United States and Canada in order
      to effect and maintain the qualification of the Indenture under such laws to
      the extent they do not conflict with the applicable laws of the United States;
      or</div><br>
  <LI>
    <div align="justify">change or eliminate any provisions of the Indenture where such change
      takes effect when there are no Debt Securities outstanding which are entitled
      to the benefit of those provisions under the Indenture. </div>
  </LI>
</UL>
<P align=justify><U>Governing Law</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Indenture and the Debt
Securities will be governed by and construed in accordance with the laws of the
State of New York, except that discharge by the Canadian trustee of any of its
rights, powers, duties or responsibilities hereunder shall be construed in
accordance with the laws of the Province of British Columbia and the federal
laws of Canada applicable thereto. </P>
<P align=justify><U>The Trustees</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any trustee under the Indenture
or its affiliates may provide other services to the Company in the ordinary
course of their business. If the trustee or any affiliate acquires any
conflicting interest and a default occurs with respect to the Debt Securities,
the trustee must eliminate the conflict or resign. </P>
<P align=justify><U>Resignation and Removal of Trustee</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A trustee may resign or be
removed with respect to one or more series of the Debt Securities and a
successor trustee may be appointed to act with respect to such series. </P>
<P align=justify><U>Consent to Service</U> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the Indenture,
the Company will irrevocably designate and appoint Corporation Service Company,
Suite 400, 2711 Centerville Road, Wilmington, Delaware, USA 19808,<B> </B>as its
authorized agent upon which process may be served in any suit or proceeding
arising out of or relating to the Indenture or the Debt Securities that may be
instituted in any U.S. federal or New York State court located in The Borough of
Manhattan, in the City of New York, or brought by the trustees (whether in their
individual capacity or in their capacity as trustees under the Indenture), and
will irrevocably submit to the non-exclusive jurisdiction of such courts. </P>
<P align=justify><B>Units </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may issue Units
comprised of one or more of the other Securities described in the Prospectus in
any combination. Each Unit will be issued so that the holder of the Unit is also
the holder of each of the Securities included in the Unit. Thus, the holder of a
Unit will have the rights and obligations of a holder of each included Security.
The unit agreement, if any, under which a Unit is issued may provide that the
Securities included in the Unit may not be held or transferred separately, at
any time or at any time before a specified date. </P>
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<P align=center>- 34 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The particular terms and
provisions of Units offered by any prospectus supplement, and the extent to
which the general terms and provisions described below may apply thereto, will
be described in the prospectus supplement filed in respect of such Units. </P>
<P align=center><B>RISK FACTORS </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An investment in the Company&#146;s
common shares is highly speculative and subject to a number of risks. A
prospective purchaser of the Securities should carefully consider the
information described in the Prospectus as well as the risk factors set out in
the Annual Information Form incorporated herein by reference. In addition to
those risks, a prospective purchaser of the Securities should also carefully
consider the following risk factors. </P>
<P align=justify><B>Volatility in Metals Prices</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The profitability of the
Gibraltar Mine and the financial results, exploration, development and mining
activities on the Company&#146;s other properties are directly related and sensitive
to the market price of copper, gold, molybdenum and other metals. Metal prices
fluctuate widely and are affected by numerous factors beyond the Company&#146;s
control, including global supply and demand, expectations with respect to the
rate of inflation, the exchange rates of the United States dollar to other
currencies, interest rates, forward selling by producers, production and cost
levels in major producing regions, global or regional political, economic or
financial situations and a number of other factors such as the sale or purchase
of commodities by various commodity traders, production costs of major mineral
producing countries and the cost of substitutes. </P>
<P align=justify><B>Financing </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has been successful
at financing its projects and operations over the years. However, the Company&#146;s
ability to continue its exploration, assessment, development and operational
activities will depend on the resource industry generally, which is cyclical in
nature, and which may, in turn, affect the Company&#146;s ability to attract
financing, including joint venture financing, debt or bank financing, equity
financing or production financing arrangements. Failure to obtain, or difficulty
or delay in obtaining, requisite financing could result in delay of certain
projects or postponement of further exploration, assessment or development of
certain properties or projects. Financing through the issuance of equity will
result in dilution of existing shareholders. </P>
<P align=justify><B>Taseko&#146;s Prosperity Project Risks</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January 14, 2010, Taseko
received approval under the <I>Environmental Assessment Act</I> (British
Columbia) for the Prosperity Project from the British Columbia Ministry of
Environment and the Mines Act permit. The Federal Review Panel submitted its
report to Canada&#146;s Minister of the Environment on July 2, 2010. The Company
expects the Federal Cabinet will make a decision on the Prosperity Project in
October 2010. Failure to obtain such approvals and permits in a timely manner or
at all will delay or even lead to abandonment of the Prosperity Project, which
would likely negatively affect the Company&#146;s share price. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furthermore, the feasibility
assumes specified, long-term price levels for gold and copper. The prices of
these metals have historically been volatile, and the Company has no control of
or influence on its price, which is determined in international markets. There
can be no assurance that the price of gold or copper will remain at current
levels or that it will not decline below the prices assumed in the feasibility
study.</P>
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<P align=center>- 35 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prosperity Project will
require substantial financing, including a possible combination of debt and
equity financing. There can be no assurance that debt and/or equity financing
will be available on acceptable terms. Other general risks include those typical
of very large construction projects, including the general uncertainties
inherent in engineering and construction costs, the need to comply with
generally increasing environmental regulation, and accommodation of local and
community concerns. The economics of the feasibility study are sensitive to the
US Dollar and Canadian Dollar exchange rate, and this rate has been subject to
large fluctuations in the last several years. </P>
<P align=justify><B>Increased Costs Could Affect Profitability </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The cash cost of production is
frequently subject to great variation from one year to the next due to a number
of factors, such as changing strip ratios, ore grade, metallurgy, cost of
supplies and services (for example, electricity and fuel) and the exchange rate
in the case of supplies and services denominated in foreign currencies. If these
costs used in connection with the Company&#146;s operations were to increase
significantly, and remain at such levels for a substantial period, the Company&#146;s
cash flows from operations may be negatively affected. The Company prepares
estimates of future production and unit cash costs of production annually. No
assurance can be given that such estimates will be achieved. Failure to achieve
production or cost estimates or material increases in operating or capital costs
could have an adverse impact on the Company&#146;s future cash flows, profitability,
results of operations and financial condition. </P>
<P align=justify><b>Taseko&rsquo;s Harmony Project and Aley Project Contain No Known Reserves of Ore; No Reserves at Prosperity Under SEC Standards </b></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although there are known bodies
of mineralization on the Harmony and Aley Projects, there are currently no known
reserves or body of commercially viable ore, and additional work is required
before Taseko can ascertain if any mineralization may be economic. Exploration
for minerals is a speculative venture necessarily involving substantial risk. If
the expenditures Taseko makes on these properties do not result in discoveries
of commercial quantities of ore, the exploration and acquisition expenditures
will be written off and the value of Taseko stock could be negatively impacted.
Under SEC reserve recognition rules, the Prosperity Project does not contain any
reserves. </P>
<P align=justify><B>Exchange Rate Risk</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is subject to
currency exchange rate risk because prices of copper and molybdenum are
denominated in United States dollars and, accordingly, the Company&#146;s revenues
will be received in United States dollars. The Company&#146;s expenses are almost
entirely denominated in Canadian dollars. The Company currently does not engage
in foreign exchange hedging. Any strengthening in the Canadian dollar will
negatively impact the profitability of the Company&#146;s mining operations. </P>
<P align=justify><B>Uncertain Project Realization Values</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company annually undertakes a
detailed review of the life-of-mine plans for its operating properties and an
evaluation of the Company&#146;s portfolio of development projects, exploration
projects and other assets. The recoverability of the Company&#146;s carrying values
of its operating and development properties are assessed by comparing carrying
values to estimated future net cash flows from each property. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Factors which may affect carrying
values include, but are not limited to: copper, molybdenum and gold prices;
capital cost estimates; mining, processing and other operating costs; grade and
metallurgical characteristics of ore; and mine design and timing of production.
In the event of a prolonged period of depressed copper, gold or molybdenum prices, the
Company may be required to take additional material write-downs of its operating
and development properties. </P>
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<P align=center>- 36 - </P>
<P align=justify><B>The Effects of the Company&#146;s Commodity Hedging Program to
Mitigate the Impact of Copper Price Volatility are Uncertain and may Limit the
Price that the Company may Realize on Copper Sales. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has an ongoing copper
hedging program. However, there is no assurance that a commodity hedging program
designed to reduce the risk associated with fluctuations in metal prices will be
successful. Hedging may not protect adequately against declines in the price of
the hedged metal. Although hedging may protect Taseko from a decline in the
price of the metal being hedged, it may also prevent Taseko from benefiting
fully from price increases. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s ongoing copper
hedging program could expose it to certain inherent risks including: (a) credit
risk- the risk that the creditworthiness of a counterparty may adversely affect
its ability to perform its payment and other obligations under its agreement
with Taseko or adversely affect the financial and other terms the counterparty
is able to offer Taseko; (b) market liquidity risk &#150; the risk that Taseko has
entered into a hedging position that cannot be closed out quickly, by either
liquidating such hedging instrument or by establishing an offsetting position;
(c) unrealized mark-to-market risk &#150; the risk that, in respect of certain
hedging products, an adverse change in market prices for commodities, currencies
or interest rates will result in Taseko incurring an unrealized mark-to-market
loss in respect of such hedging products.</P>
<P align=justify><B>General Mining Risks</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mining is an inherently risky
business with large capital expenditures and cyclical metals markets. Factors
beyond the control of Taseko will affect the marketability of any minerals
discovered and mined. The mining industry in general is intensely competitive
and there is no assurance that, even if commercial quantities of ore are
discovered at the Prosperity Project and the Harmony Project, a profitable
market will exist for the sale of minerals produced by Taseko. Factors beyond
the control of Taseko may affect the marketability of any substances discovered.
Metal prices, in particular copper, molybdenum and gold prices, have fluctuated
widely in recent years. Prices are determined in international markets over
which the Company has no influence. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The operations of Taseko may
require licenses and permits from various governmental authorities. There can be
no assurances that Taseko will be able to obtain all necessary licenses and
permits that may be required to carry out exploration, development and
operations at its projects. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although the Company maintains
high environmental standards for all of its projects, there are almost always
public concerns about new mining projects and any significant public opposition
to the Prosperity Project will increase the likelihood that its development is
delayed or prevented. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko also competes with many
companies possessing far greater financial resources and technical facilities
for the acquisition of mineral concessions, claims, leases and other mineral
interests, as well as for the recruitment and retention of qualified employees.
</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Typical mining risks are also
that estimated reserves are not of the size or grade estimated and adverse
geological or ground conditions, adverse weather conditions, potential labour
problems, and availability. Cost of equipment procurement and repairs also can
impact operations. </P>
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<P align=center>- 37 - </P>
<P align=justify><B>Certain Mineralized Material Qualifying as a Reserve in
Canada is Not Considered a Reserve in the U.S. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain mineralized material at
our Prosperity Project qualifies under Canadian mining disclosure standards as a
proven and probable reserve. However, it is not considered to be a reserve under
SEC standards. Among other things, all necessary permits would be required to be
in hand or issuance imminent in order to classify mineralized material as
reserves under the SEC standards. </P>
<P align=justify><B>Taseko&#146;s Share Price is Volatile</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In recent years, the market price
of Taseko has experienced a high level of price volatility. Taseko&#146;s shares have
ranged between $0.36 and $20.00 in the last 18 years and between approximately
$0.69 and $6.28 in the last three years. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The wide fluctuation in market
prices of its securities may not necessarily be related to the operating
performance, underlying asset values or prospects of the Company. Other factors
impacting share prices may include the strength of the economy, market
perceptions of the attractiveness of particular industries, and the breadth of
the public market for the stock. The price of the securities of the Company is
also likely to be significantly affected by short-term changes in commodity
prices, other precious metal prices or other mineral prices, currency exchange
rate fluctuations and the political environment. The effect of these and other
factors on the market price of the common shares on the TSX and the NYSE Amex
suggests that Taseko&#146;s shares will continue to be volatile. </P>
<P align=justify><B>Environmental Considerations</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The estimation of the existing
reclamation liability related to the Gibraltar Mine is not free from
uncertainty. Mining always entails risks of spills, pollution, reclamation, and
other liabilities and obligations, which like other mining companies, may
adversely affect Taseko. If these challenges are not properly assessed or if
rules become more onerous, Taseko could be materially adversely affected. </P>
<P align=justify><B>Significant Potential Equity Dilution</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taseko had 11,564,307 share purchase options in-the-money at October 7, 2010.  In addition, there are also shares potentially issuable in 2011 on the conversion of Gibraltar&rsquo;s class of Preferred Shares issued for the Harmony project, none of which are owned by Taseko. All of the foregoing may likely act as an upside constraint on the trading price of Taseko&rsquo;s shares.</P>
<P align=justify><B>Taseko may fail to maintain the adequacy of internal control
over financial reporting in breach of the Sarbanes-Oxley Act and National
Instrument 52-109 &#150; <I>Certification of Disclosure in Issuers&#146; Annual and
Interim Filings</I>. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company documented and tested
during its most recent fiscal year, its internal control procedures in order to
satisfy the requirements of Section 404 of the Sarbanes-Oxley Act (&#147;SOX&#148;)
National Instrument 52-109 &#150; <I>Certification of Disclosure in Issuers&#146; Annual
and Interim Filings</I> (&#147;NI 52-109&#148;). SOX requires an annual assessment by
management and an independent assessment by the Company&#146;s independent auditors
of the effectiveness of the Company&#146;s internal control over financial reporting.
Similarly, NI 52-109 requires annual evaluations by management of the
effectiveness of the Company&#146;s internal control over financial reporting and it
also requires issuers to disclose, on an annual and quarterly basis, changes in
the Company&#146;s internal control over financial reporting that have materially
affected, or are reasonably likely to materially affect, the Company&#146;s internal
control over financial reporting. The Company may fail to achieve and maintain
the adequacy of its internal control over financial reporting as such standards are modified,
supplemented, or amended from time to time, and the Company may not be able to
ensure that it can conclude on an ongoing basis that it has effective internal
controls over financial reporting in accordance with Section 404 of SOX or NI
52-109. The Company&#146;s failure to satisfy the requirements of Section 404 of SOX
or NI 52-109 on an ongoing, timely basis could result in the loss of investor
confidence in the reliability of its financial statements, which in turn could
harm the Company&#146;s business and negatively impact the trading price of its
Common Shares or market value of its other securities. In addition, any failure
to implement required new or improved controls, or difficulties encountered in
their implementation, could harm the Company&#146;s operating results or cause it to
fail to meet its reporting obligations. </P>
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<P align=center>- 38 - </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There can be no assurance that
the Company will be able to remediate material weaknesses, if any, identified in
future periods, or maintain all of the controls necessary for continued
compliance, and there can be no assurance that the Company will be able to
retain sufficient skilled finance and accounting personnel, especially in light
of the increased demand for such personnel among publicly traded companies.
Future acquisitions of companies, if any, may provide the Company with
challenges in implementing the required processes, procedures and controls in
its acquired operations. Acquired companies may not have disclosure controls and
procedures or internal control over financial reporting that are as thorough or
effective as those required by securities laws currently applicable to the
Company. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No evaluation can provide
complete assurance that the Company&#146;s internal control over financial reporting
will detect or uncover all failures of persons within the Company to disclose
material information otherwise required to be reported. The effectiveness of the
Company&#146;s controls and procedures could also be limited by simple errors or
faulty judgments. In addition, as the Company continues to expand, the
challenges involved in implementing appropriate internal controls over financial
reporting will increase and will require that the Company continue to improve
its internal controls over financial reporting. Although the Company intends to
devote substantial time and incur costs, as necessary, to ensure ongoing
compliance, the Company cannot be certain that it will be successful in
complying with Section 404 of SOX and NI 52-109. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>If any of the foregoing
events, or other risk factor events as described herein occur, our business,
financial condition or results of operations could likely suffer. In that event,
the market price of our securities could decline and investors could lose all or
part of their investment. </I></B></P>
<P align=center><B>CANADIAN FEDERAL INCOME TAX CONSIDERATIONS </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The applicable prospectus
supplement will describe certain Canadian federal income tax consequences to an
investor acquiring any Securities offered thereunder. </P>
<P align=center><B>MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The applicable prospectus
supplement will describe certain United States federal income tax consequences to
an investor acquiring any Securities offered thereunder. </P>
<P align=center><B>MATERIAL CONTRACTS </B></P>
<P align=justify>Joint Venture Formation Agreement dated March 18, 2010 among
Taseko, Gibraltar Mines Ltd. and Cariboo Copper Corp. which provides for the
strategic relationship for the development and operation of the Gibraltar Mine;
</P>
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<P align=center>- 39 - </P>
<P align=justify>Joint Venture Operating Agreement dated March 18, 2010 among
Taseko, Gibraltar Mines Ltd. and Cariboo Copper Corp. which provides the
operation of the Gibraltar Mine; and </P>
<P align=justify>Services Agreement dated July 2, 2010 between Hunter Dickinson
Services Inc. (&#147;HD Services&#148;) and Taseko pursuant to which HD Services agreed to
provide technical, geological, corporate communications, administrative and
management services to Taseko. </P>
<P align=center><B>LEGAL MATTERS </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain legal matters relating to
the Securities offered by this Prospectus will be passed upon for us by Lang
Michener LLP, Vancouver, B.C., with respect to matters of Canadian law, and
Dorsey &amp; Whitney LLP, Vancouver, B.C. and Seattle, WA, with respect to
matters of United States law. The partners and associates of Lang Michener LLP
and Dorsey &amp; Whitney LLP beneficially own, directly or indirectly, less than
1% of any class of securities issued by the Company. As at the date hereof, the
partners and associates of Lang Michener LLP, as a group, and the partners and
associates of Dorsey &amp; Whitney LLP, as a group, each beneficially own,
directly or indirectly, less than one percent of the outstanding Common Shares
of the Company. </P>
<P align=center><B>AUDITORS, TRANSFER AGENT AND REGISTRAR </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The auditors of the Company are
KPMG LLP, Chartered Accountants, Vancouver, British Columbia. The transfer agent
and registrar for the Common Shares of the Company is Computershare Investor
Services Inc. at its principal office in Vancouver, British Columbia and
Toronto, Ontario. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial
statements as at December 31, 2008 and 2009 and for each of the years in the
three year period ended December 31, 2009 incorporated in the Prospectus by
reference have been audited by KPMG LLP, independent registered chartered
accountants, as stated in their report, which is incorporated herein by
reference. </P>
<P align=center><B>DOCUMENTS FILED AS PART OF THE REGISTRATION STATEMENT
</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents have been
filed or will be filed with the SEC as part of the registration statement of
which this Prospectus forms a part: the documents listed under &#147;Documents
Incorporated by Reference&#148;; consents of accountants, engineers and counsel; form
of trust indenture; and powers of attorney. </P>
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<P align=center>II- 1</P>
<P align=center><B>PART II </B></P>
<P align=center><B>INFORMATION NOT REQUIRED TO BE DELIVERED TO OFFEREES OR
PURCHASERS</B> </P>
<P align=justify><B>Indemnification of Directors and Officers. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant is subject to the
provisions of the <I>Business Corporations Act </I>(British Columbia) (the
&#147;<B>Act</B>&#148;).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp; Under Section 160 of the Act, an
individual who: </P>
<UL>
  <LI>
    <div align="justify">is or was a director or officer of the Registrant,
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">is or was a director or officer of another corporation (i) at a time when
      the corporation is or was an affiliate of the Registrant, or (ii) at the
      request of the Registrant, or
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">at the request of the Registrant, is or was, or holds or held a position
      equivalent to that of, a director or officer of a partnership, trust, joint
      venture or other unincorporated entity, </div>
  </LI>
</UL>
<P align=justify>and includes, the heirs and personal or other legal
representatives of that individual (collectively, an &#147;<B>eligible party</B>&#148;),
may be indemnified by the Registrant against a judgment, penalty or fine awarded
or imposed in, or an amount paid in settlement of, a proceeding (an &#147;<B>eligible
penalty</B>&#148;) in which, by reason of the eligible party being or having been a
director or officer of, or holding or having held a position equivalent to that
of a director or officer of, the Registrant or an associated corporation, (a)
the eligible party is or may be joined as a party, or (b) the eligible party is
or may be liable for or in respect of a judgment, penalty or fine in, or
expenses related to, the proceeding (&#147;<B>eligible proceeding</B>&#148;) to which the
eligible party is or may be liable. Section 160 of the Act also permits the
Registrant to pay the expenses actually and reasonably incurred by an eligible
party after the final disposition of the eligible proceeding.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 161 of the Act, the
Registrant must, after the final disposition of an eligible proceeding, pay the
expenses actually and reasonably incurred by the eligible party in respect of
that proceeding if the eligible party (a) has not been reimbursed for those
expenses, and (b) is wholly successful, on the merits or otherwise, in the
outcome of the proceeding or is substantially successful on the merits in the
outcome of the proceeding.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 162 of the Act, the
Registrant may pay, as they are incurred in advance of the final disposition of
an eligible proceeding, the expenses actually and reasonably incurred by an
eligible party in respect of that proceeding; provided the Registrant must not
make such payments unless it first receives from the eligible party a written
undertaking that, if it is ultimately determined that the payment of expenses is
prohibited by Section 163, the eligible party will repay the amounts
advanced.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 163 of the Act, the
Registrant must not indemnify an eligible party against eligible penalties to
which the eligible party is or may be liable or pay the expenses of an eligible
party in respect of that proceeding under Sections 160, 161 or 162 of the Act,
as the case may be, if any of the following circumstances apply:</P>
<UL>
  <LI>
    <div align="justify">if the indemnity or payment is made under an earlier agreement to
      indemnify or pay expenses and, at the time that the agreement to indemnify or
      pay expenses was made, the Registrant was prohibited from giving the indemnity
      or paying the expenses by its memorandum or articles; </div>
  </LI>
</UL>
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<P align=center>II- 2 </P>
<UL>
  <LI>
    <div align="justify">if the indemnity or payment is made otherwise than under an earlier
      agreement to indemnify or pay expenses and, at the time that the indemnity or
      payment is made, the Registrant is prohibited from giving the indemnity or
      paying the expenses by its memorandum or articles;
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">if, in relation to the subject matter of the eligible proceeding, the
      eligible party did not act honestly and in good faith with a view to the best
      interests of the Registrant or the associated corporation, as the case may be;
      or
      <br>
    &nbsp;</div>
  <LI>
    <div align="justify">in the case of an eligible proceeding other than a civil proceeding, if
      the eligible party did not have reasonable grounds for believing that the
      eligible party&#146;s conduct in respect of which the proceeding was brought was
      lawful. </div>
  </LI>
</UL>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an eligible proceeding is
brought against an eligible party by or on behalf of the Registrant or by or on
behalf of an associated corporation, the Registrant must not either indemnify
the eligible party against eligible penalties to which the eligible party is or
may be liable in respect of the proceeding, or, after the final disposition of
an eligible proceeding, pay the expenses of the eligible party under Sections
160, 161 or 162 of the Act in respect of the proceeding.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Section 164 of the Act, the
Supreme Court of British Columbia may, on application of the Registrant or an
eligible party, order the Registrant to indemnify the eligible party or to pay
the eligible party&#146;s expenses, despite Sections 160 to 163 of the Act.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The articles of a company may
affect its power or obligation to give an indemnity or pay expenses. As
indicated above, this is subject to the overriding power of the Supreme Court of
British Columbia under Section 164 of the Act. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the articles of the
Registrant, subject to the provisions of the Act, the Registrant must indemnify
a director or former director of the Registrant and the heirs and legal personal
representatives of all such persons against all eligible penalties to which such
person is or may be liable, and the Registrant must, after the final disposition
of an eligible proceeding, pay the expenses actually and reasonably incurred by
such person in respect of that proceeding. Each director and officer is deemed
to have contracted with the Registrant on the terms of the indemnity contained
in the Registrant&#146;s articles. The failure of a director or officer of the
Registrant to comply with the Act or the articles of the Registrant does not
invalidate any indemnity to which such person is entitled under the Registrant&#146;s
articles.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the articles of the
Registrant, the Registrant may purchase and maintain insurance for the benefit
of any eligible party against any liability incurred by such party as a
director, officer or person who holds or held an equivalent position.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriters, dealers or agents
who participate in a distribution of securities registered hereunder may be
entitled under agreements to be entered into with the Registrant to
indemnification by the Registrant against certain liabilities, including
liabilities under the United States Securities Act of 1933, as amended, and
applicable Canadian securities legislation, or to contribution with respect to
payments which such underwriters, dealers or agents may be required to make in
respect thereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Insofar as indemnification for
liabilities arising under the Securities Act of 1933, as amended (the &#147;1933
Act&#148;), may be permitted to directors, officers or persons controlling the
Registrant pursuant to the foregoing provisions, the Registrant has been
informed that in the opinion of the U.S. Securities and Exchange Commission such
indemnification is against public policy as expressed in the 1933 Act and is
therefore unenforceable.</B></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=center>II- 3 </P>
<P align=center><B>EXHIBITS </B></P>
<P align=justify>See the Exhibit Index hereto. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_15></A>
<P align=center>III- 1</P>
<P align=center><B>PART III </B></P>
<P align=center><B>UNDERTAKING AND CONSENT TO SERVICE OF PROCESS </B></P>
<P align=justify><B>Item 1. Undertaking</B>. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant undertakes to make
available, in person or by telephone, representatives to respond to inquiries
made by the Commission staff, and to furnish promptly, when requested to do so
by the Commission staff, information relating to the securities registered
pursuant to this Form F-10 or to transactions in said securities. </P>
<P align=justify><B>Item 2. Consent to Service of Process. </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant has previously
filed with the Commission a written Appointment of Agent for Service of Process
and Undertaking on Form F-X. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any change to the name or address
of the Registrant&#146;s agent for service of process shall be communicated promptly
to the Commission by amendment to Form F-X referencing the file number of this
Registration Statement. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_16></A>
<P align=center>III- 2 </P>
<P align=center><B>SIGNATURES </B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Act of 1933, the Registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form F-10
and has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Vancouver, Canada, on
this 8th day of October, 2010. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD width="50%" colspan="2" align=left noWrap><B>TASEKO MINES LIMITED</B> </TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD colspan="2" align=left noWrap>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD noWrap align=left width="5%">By:</TD>
    <TD noWrap align=left width="25%"><u><i>/s/ Russell E. Hallbauer</i></u></TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD width="5%" align=left noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="25%" align=left noWrap>Name: Russell E. Hallbauer </TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD width="5%" align=left noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="25%" align=left noWrap>Title: President and Chief Executive
    Officer </TD>
  </TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
the Securities Act of 1933, this Registration Statement has been signed by the
following persons in the capacities indicated and on this 8th day of October,
2010. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B>Signature</B> </TD>
    <TD noWrap align=center width="33%">&nbsp;</TD>
    <TD noWrap align=center width="33%"><B>Title</B> </TD></TR>
  <TR>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=center width="33%">&nbsp;</TD>
    <TD noWrap align=center width="33%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><i>/s/ Russell E. Hallbauer</i></TD>
    <TD noWrap align=center width="33%">&nbsp;</TD>
    <TD noWrap align=center width="33%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Russell E. Hallbauer</B> </TD>
    <TD align=left width="33%"></TD>
    <TD align=left width="33%"><B>President and Chief Executive Officer</B>
      <B>and Director </B>(Principal Executive Officer) </TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><i>/s/ Peter C. Mitchell</i></TD>
    <TD align=left width="33%">&nbsp;</TD>
    <TD align=left width="33%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Peter C. Mitchell</B> </TD>
    <TD align=left width="33%"></TD>
    <TD align=left width="33%"><B>Chief Financial Officer </B>(Principal
      Financial Officer and Principal Accounting Officer) </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="33%">&nbsp; </TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left><B>Ronald W. Thiessen</B> </TD>
    <TD noWrap align=left width="33%">&nbsp;</TD>
    <TD noWrap align=left width="33%"><B>Director and Chairman</B> </TD></TR>
  <TR>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD></TR></TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left><B>T. Barry Coughlan</B> </TD>
    <TD noWrap align=left width="33%">&nbsp;</TD>
    <TD noWrap align=left width="33%"><B>Director</B> </TD></TR>
  <TR>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left><B>Scott D. Cousens</B> </TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left><B>Director</B> </TD>
  </TR>
  <TR>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
    <TD noWrap align=left>&nbsp;</TD>
  </TR>
  <TR>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD>
    <TD noWrap align=left width="33%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left><B>Robert A. Dickinson</B> </TD>
    <TD noWrap align=left width="33%">&nbsp;</TD>
    <TD noWrap align=left width="33%"><B>Director</B> </TD></TR></TABLE>
<P align=justify>* By:
  <u><i>/s/ Peter C. Mitchell</i></u><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Name: Peter C. Mitchell
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:
Attorney-in-Fact </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_18></A>
<P align=center>III- 3</P>
<P align=center><B>AUTHORIZED REPRESENTATIVE</B> </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of
Section 6(a) of the Securities Act of 1933, as amended, the undersigned has
signed this Registration Statement, solely in its capacity as the duly
authorized representative of the Registrant in the United States, on this 8th
day of October, 2010. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD width="50%" colspan="2" align=left noWrap><B>Puglisi &amp; Associates</B> </TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD colspan="2" align=left noWrap>&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD noWrap align=left width="5%">By:</TD>
    <TD noWrap align=left width="25%"><i><u>/s/ Donald J. Puglisi</u></i></TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD width="5%" align=left noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="25%" align=left noWrap>Name:  Donald J. Puglisi</TD>
  </TR>
  <TR vAlign=top>
    <TD noWrap align=left >&nbsp;</TD>
    <TD width="5%" align=left noWrap>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD width="25%" align=left noWrap>Title: Managing Director</TD>
  </TR>
</TABLE>
<p><BR>
</p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_19></A>
<P align=center><B>EXHIBIT INDEX </B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="612">

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
      ><B>Exhibit</B> <B>No.</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="90%"><B>Description</B> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >4.1 </TD>
    <TD align=justify width="90%" bgColor=#eeeeee>Annual Information Form dated
      March 31, 2010 for the fiscal year ended December 31, 2009 (incorporated
      by reference to the Company&#146;s Annual Report on Form 40-F for the fiscal
      year ended December 31, 2009 filed on April 1, 2010) </TD></TR>
  <TR>
    <TD align=left  >&nbsp;</TD>
    <TD align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >4.2 </TD>
    <TD align=justify width="90%" bgColor=#eeeeee>Consolidated financial
      statements and the notes thereto for the fiscal periods ended December 31,
      2009 and 2008 and September 30, 2007, together with the auditors&#146; report
      thereon and management&#146;s discussion and analysis for the year ended
      December 31, 2009 (incorporated by reference to the Company&#146;s Annual
      Report on Form 40-F for the fiscal year ended December 31, 2009 filed on
      April 1, 2010) </TD></TR>
  <TR>
    <TD align=left  >&nbsp;</TD>
    <TD align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >4.3 </TD>
    <TD align=justify width="90%" bgColor=#eeeeee>Unaudited interim consolidated
      financial statements and notes thereto for the three and six months ended
      June 30, 2010 and management&#146;s discussion and analysis for the three and
      six months ended June 30, 2010 (incorporated by reference from the
      Company&#146;s Form 6-K furnished to the Commission on August 16, 2010) </TD></TR>
  <TR>
    <TD align=left  >&nbsp;</TD>
    <TD align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >4.4 </TD>
    <TD align=justify width="90%" bgColor=#eeeeee>Management information circular
      dated May 13, 2010 relating to the annual general meeting of shareholders
      held June 16, 2010 (incorporated by reference to the Company&#146;s Form 6-K
      furnished to the Commission on May 20, 2010) </TD></TR>
  <TR>
    <TD align=left  >&nbsp;</TD>
    <TD align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >4.5 </TD>
    <TD align=justify width="90%" bgColor=#eeeeee>Audited Supplementary Note
      entitled &#147;Reconciliation with United States Generally Accepted Accounting
      Principles&#148; for the year ended December 31, 2009, the fifteen months ended
      December 31, 2008, and the year ended September 30, 2007 (incorporated by
      reference from the Company&#146;s Form 6-K furnished to the Commission on
      September 17, 2010) </TD></TR>
  <TR>
    <TD align=left  >&nbsp;</TD>
    <TD align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee >4.6 </TD>
    <TD align=justify width="90%" bgColor=#eeeeee>Unaudited Supplementary Note
      entitled &#147;Reconciliation with United States Generally Accepted Accounting
      Principles&#148; as at June 30, 2010, and for the three and six months ended
      June 30, 2010 (incorporated by reference from the Company&#146;s Form 6-K
      furnished to the Commission on September 17, 2010) </TD></TR>
  <TR>
    <TD align=left  >&nbsp;</TD>
    <TD align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee ><a href="exhibit5-1.htm">5.1
    </a> </TD>
    <TD noWrap align=justify width="90%" bgColor=#eeeeee>
    <a href="exhibit5-1.htm">Consent of KPMG
      LLP<SUP>(1)</SUP> </a> </TD></TR>
  <TR>
    <TD noWrap align=left  >&nbsp;</TD>
    <TD noWrap align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee >5.2 </TD>
    <TD noWrap align=justify width="90%" bgColor=#eeeeee>Consent of Lang Michener
      LLP<SUP>(2)</SUP> </TD></TR>
  <TR>
    <TD noWrap align=left  >&nbsp;</TD>
    <TD noWrap align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee >5.3 </TD>
    <TD noWrap align=justify width="90%" bgColor=#eeeeee>Consent of Scott Jones,
      P. Eng.<SUP>(2)</SUP> </TD></TR>
  <TR>
    <TD noWrap align=left  >&nbsp;</TD>
    <TD noWrap align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee >5.4 </TD>
    <TD noWrap align=justify width="90%" bgColor=#eeeeee>Consent of Gary Giroux,
      P. Eng<SUP>(2)</SUP> </TD></TR>
  <TR>
    <TD noWrap align=left  >&nbsp;</TD>
    <TD noWrap align=justify width="90%" ></TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee >5.5 </TD>
    <TD noWrap align=justify width="90%" bgColor=#eeeeee>Consent of Lawrence A.
      Melis, P. Eng<SUP>(2)</SUP> </TD></TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%" align="justify">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee>6.1 </TD>
    <TD align=justify width="90%" bgColor=#eeeeee>Powers of Attorney for Ronald W. Thiessen, T. Barry Coughlan, Scott D. Cousens and Robert A. Dickson<SUP>(2)</SUP></TD>
  </TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%" align="justify">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee ><a href="exhibit7-1.htm">7.1 </a></TD>
    <TD noWrap align=justify width="90%" bgColor=#eeeeee><a href="exhibit7-1.htm">Form of Trust
      Indenture<SUP>(1)</SUP> </a></TD>
  </TR>
  <TR>
    <TD >&nbsp; </TD>
    <TD width="90%" align="justify">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee >7.2 </TD>
    <TD noWrap align=justify width="90%" bgColor=#eeeeee>Statement of Eligibility
      under the Trust Indenture Act of 1939 on Form T-1 of the
      trustee<SUP>(3)</SUP> </TD></TR></TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD vAlign=top width="5%">(1) </TD>
  <TD>Filed as an exhibit to this registration statement on Form F-10.</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>Previously filed. </TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>To be filed in accordance with the requirements of Section 305(b)(2)
    of the Trust Indenture Act of 1939 and Rule 5b-3 thereunder, if required.    </TD></TR></TABLE>
<p><BR>
</p>
<HR align=center width="100%" color=black noShade SIZE=5>

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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit5-1.htm
<DESCRIPTION>CONSENT OF KPMG LLP
<TEXT>
<HTML>
<HEAD>
   <TITLE>Taseko Mines Limited - Exhibit 5.1 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="font-size:8pt;">
  <tr>
    <td width="33%" valign="top"><p><img src="image002.gif" alt="" width="105" height="47"></p>      </td>
    <td width="33%" valign="top">&nbsp;</td>
    <td width="33%" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td width="33%"><p>&nbsp;</td>
    <td width="33%" valign="top"><p>KPMG LLP<br>
      Chartered Accountants<br>
      PO    Box 10426&nbsp; 777 Dunsmuir Street<br>
      Vancouver&nbsp; BC&nbsp; V7Y 1K3 <br>
      Canada </p>        </td>
    <td width="33%" valign="top"><p>Telephone&nbsp;&nbsp;&nbsp;&nbsp; (604) 691-3000<br>
      Fax&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (604)    691-3031<br>
      Internet&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; www.kpmg.ca </p>      </td>
  </tr>
</table>
<P align=center>&nbsp;</P>
<BR>
<P align=center><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
</B></P>
<P align=justify>The Board of Directors<br>
Taseko Mines Limited<B> </B></P>
<P align=justify>We consent to the use of the following reports incorporated by reference in Amendment No. 1 to the Registration Statement on Form F-10 (No. 333 &ndash; 333-169469) of Taseko Mines Limited (the &ldquo;Company&rdquo;):</P>
<UL style="TEXT-ALIGN: justify">
  <LI>
  <P>Report of Independent Registered Public Accounting Firm to the Board of Directors dated March 31, 2010 on the consolidated balance sheets of the Company as at December 31, 2009 and 2008 and the consolidated statements of operations and comprehensive income (loss), shareholders&rsquo; equity and cash flows for the year ended December 31, 2009, the fifteen months ended December 31, 2008 and the year ended September 30, 2007; </P>
  <LI>
  <P>Report of Independent Registered Public Accounting Firm to the Board of Directors dated March 31, 2010 on the effectiveness of the Company&rsquo;s internal control over financial reporting as of December 31, 2009; and</P>
  </LI>
  <LI>Auditors&rsquo; Report to the Board of Directors dated September 17, 2010 on the related supplemental note entitled &ldquo;Reconciliation with United States Generally Accepted Accounting Principles&rdquo;.</LI>
</UL>
<P align=justify>We also consent to the reference to our firm under the heading &ldquo;Auditors, Transfer Agent And Registrar&rdquo; in Amendment No. 1 to the Registration Statement on Form F-10 (No. 333 &ndash; 333-169469).</P>
<IMG src="kpmgsignature.jpg" border=0> <BR>
<P align=justify>Chartered Accountants </P>
<P>Vancouver, Canada <BR>
October 8, 2010</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 8pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="60%"> KPMG LLP, a Canadian limited liability partnership is the Canadian<br>
      member firm of KPMG International, a Swiss cooperative. </TD>
    <TD align=left width="20%">&nbsp;</TD></TR></TABLE>
</DIV><BR>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.1
<SEQUENCE>3
<FILENAME>exhibit7-1.htm
<DESCRIPTION>FORM OF TRUST INDENTURE
<TEXT>
<HTML>
<HEAD>
   <TITLE>Taseko Mines Limited: Exhibit 7.1 - Filed by newsfilecorp.com</TITLE>
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<HR noshade align="center" width=100% size=3 color="black">
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<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>TASEKO MINES LIMITED </B></P>
<P align=center>as Issuer <BR>____________________________</P>
<P align=center>&nbsp;&#149; </P>
<P align=center>as U.S. Trustee </P>
<P align=center>and</P>
<P align=center>&#149;</P>
<P align=center>as Canadian Trustee</P>
<P align=center>____________________________</P>
<P align=center><B>INDENTURE</B></P>
<P align=center>Dated as of &#149;</P>
<P align=center>____________________________</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=center>TABLE OF CONTENTS</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>
  <TR vAlign=top>
    <TD colspan="3" align=left  bgColor=#eeeeee ><a href="#page_7">&nbsp;ARTICLE ONE DEFINITIONS AND OTHER
      PROVISIONS OF GENERAL APPLICATION
    </A>&nbsp; <A
      href="#page_7"></A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_7">1
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_7"></A></TD>
    <TD align=left ><A
      href="#page_7">Section
      1.01 </A></TD>
    <TD align=left><A
      href="#page_7">Definitions
      </A></TD>
    <TD align=right ><A
      href="#page_7">1
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_19"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_19">Section
      1.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_19">Compliance
      Certificates and Opinions </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_19">13
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_20"></A></TD>
    <TD align=left ><A
      href="#page_20">Section
      1.03 </A></TD>
    <TD align=left><A
      href="#page_20">Form
      of Documents Delivered to Trustees </A></TD>
    <TD align=right ><A
      href="#page_20">14
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_21"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_21">Section
      1.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_21">Acts
      of Holders </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_21">15
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_22"></A></TD>
    <TD align=left ><A
      href="#page_22">Section
      1.05 </A></TD>
    <TD align=left><A
      href="#page_22">Notices,
      etc. to Trustees and Company </A></TD>
    <TD align=right ><A
      href="#page_22">16
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_23"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_23">Section
      1.06 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_23">Notice
      to Holders; Waiver </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_23">17
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_24"></A></TD>
    <TD align=left ><A
      href="#page_24">Section
      1.07 </A></TD>
    <TD align=left><A
      href="#page_24">Effect
      of Headings and Table of Contents </A></TD>
    <TD align=right ><A
      href="#page_24">18
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_24"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_24">Section
      1.08 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_24">Successors
      and Assigns </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_24">18
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_24"></A></TD>
    <TD align=left ><A
      href="#page_24">Section
      1.09 </A></TD>
    <TD align=left><A
      href="#page_24">Severability
      Clause </A></TD>
    <TD align=right ><A
      href="#page_24">18
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_24"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_24">Section
      1.10 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_24">Benefits
      of Indenture </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_24">18
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_24"></A></TD>
    <TD align=left ><A
      href="#page_25">Section
      1.11 </A></TD>
    <TD align=left><A
      href="#page_25">Governing
      Law </A></TD>
    <TD align=right ><A
      href="#page_25">19</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_25"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_25">Section
      1.12 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_25">Legal
      Holidays </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_25">19
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  ></TD>
    <TD align=left ><A
      href="#page_25">Section
      1.13 </A></TD>
    <TD align=left><A
      href="#page_25">Agent
      for Service; Submission to Jurisdiction; Waiver of Immunities </A></TD>
    <TD align=right ><A
      href="#page_25">19
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_26"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_26">Section
      1.14 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_26">Conversion
      of Currency </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_26">20
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_27"></A></TD>
    <TD align=left ><A
      href="#page_27">Section
      1.15 </A></TD>
    <TD align=left><A
      href="#page_27">Currency
      Equivalent </A></TD>
    <TD align=right ><A
      href="#page_27">21
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_27"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_27">Section
      1.16 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_27">Conflict
      with Trust Indenture Legislation </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_27">21
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  ></TD>
    <TD align=left ><A
      href="#page_28">Section
      1.17 </A></TD>
    <TD align=left><A
      href="#page_28">Incorporators,
      Shareholders, Officers and Directors of the Company Exempt from Individual
      Liability </A></TD>
    <TD align=right ><A
      href="#page_28">22
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_28">ARTICLE
      TWO SECURITIES FORMS </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_28">22
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_28"></A></TD>
    <TD align=left ><A
      href="#page_28">Section
      2.01 </A></TD>
    <TD align=left><A
      href="#page_28">Forms
      Generally </A></TD>
    <TD align=right ><A
      href="#page_28">22
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_29"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_29">Section
      2.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_29">Form
      of Trustee&#146;s Certificate of Authentication </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_29">23
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_29"></A></TD>
    <TD align=left ><A
      href="#page_29">Section
      2.03 </A></TD>
    <TD align=left><A
      href="#page_29">Securities
      Issuable in Global Form </A></TD>
    <TD align=right ><A
      href="#page_29">23
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_30">ARTICLE
      THREE THE SECURITIES </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_30">24
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_30"></A></TD>
    <TD align=left ><A
      href="#page_30">Section
      3.01 </A></TD>
    <TD align=left><A
      href="#page_30">Amount
      Unlimited; Issuable in Series </A></TD>
    <TD align=right ><A
      href="#page_30">24
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_34"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_34">Section
      3.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_34">Denominations
      </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_34">28
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_35"></A></TD>
    <TD align=left ><A
      href="#page_35">Section
      3.03 </A></TD>
    <TD align=left><A
      href="#page_35">Execution,
      Authentication, Delivery and Dating </A></TD>
    <TD align=right ><A
      href="#page_35">29
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_37"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_37">Section
      3.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_37">Temporary
      Securities </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_37">31
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_39"></A></TD>
    <TD align=left ><A
      href="#page_39">Section
      3.05 </A></TD>
    <TD align=left><A
      href="#page_39">Registration,
      Registration of Transfer and Exchange </A></TD>
    <TD align=right ><A
      href="#page_39">33
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_43"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_44">Section
      3.06 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_44">Mutilated,
      Destroyed, Lost and Stolen Securities </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_44">38</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  ></TD>
    <TD align=left ><A
      href="#page_45">Section
      3.07 </A></TD>
    <TD align=left><A
      href="#page_45">Payment
      of Principal; Premium; Interest; Interest Rights Preserved; Optional
      Interest Reset </A></TD>
    <TD align=right ><A
      href="#page_45">39
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_47"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_47">Section
      3.08 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_47">Optional
      Extension of Stated Maturity </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_47">41
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_48"></A></TD>
    <TD width="10%" align=left ><A
      href="#page_48">Section
      3.09 </A></TD>
    <TD align=left><A
      href="#page_48">Persons
      Deemed Owners </A></TD>
    <TD align=right ><A
      href="#page_48">42
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_49"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_49">Section
      3.10 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_49">Cancellation
      </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_49">43
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_49"></A></TD>
    <TD align=left ><A
      href="#page_49">Section
      3.11 </A></TD>
    <TD align=left><A
      href="#page_49">Computation
      of Interest </A></TD>
    <TD align=right ><A
      href="#page_49">43
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_49"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_50">Section
      3.12 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_50">Currency
      and Manner of Payments in Respect of Securities </A></TD>
    <TD width="5%" align=right bgColor=#eeeeee ><A
      href="#page_50">44</A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left  ></TD>
    <TD align=left ><A
      href="#page_53">Section
      3.13 </A></TD>
    <TD align=left><A
      href="#page_53">Appointment
      and Resignation of Successor Exchange Rate Agent </A></TD>
    <TD align=right ><A
      href="#page_53">47
      </A></TD></TR></TABLE>
<P align=center>- i -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_53">ARTICLE
      FOUR SATISFACTION AND DISCHARGE </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_53">47
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_53"></A></TD>
    <TD align=left ><A
      href="#page_53">Section
      4.01 </A></TD>
    <TD align=left><A
      href="#page_53">Satisfaction
      and Discharge of Indenture </A></TD>
    <TD align=right ><A
      href="#page_53">47
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_54"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_55">Section
      4.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_55">Application
      of Trust Money </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_55">49</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  colSpan=3><A
      href="#page_55">ARTICLE
      FIVE SUBORDINATION OF THE SECURITIES </A></TD>
    <TD align=right ><A
      href="#page_55">49
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_55"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_55">Section
      5.01 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_55">Agreement
      to Subordinate </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_55">49
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_55"></A></TD>
    <TD align=left ><A
      href="#page_55">Section
      5.02 </A></TD>
    <TD align=left><A
      href="#page_55">Distribution
      on Insolvency or Winding-Up </A></TD>
    <TD align=right ><A
      href="#page_55">49
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_56"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_56">Section
      5.03 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_56">Subrogation
      of the Securities </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_56">50
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left  ></TD>
    <TD align=left ><A
      href="#page_57">Section
      5.04 </A></TD>
    <TD align=left><A
      href="#page_57">No
      Payment to Holders if Senior Indebtedness Due or in Default or
      Commencement of Proceedings </A></TD>
    <TD width="5%" align=right ><A
      href="#page_57">51
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_58"></A></TD>
    <TD width="10%" align=left bgColor=#eeeeee ><A
      href="#page_58">Section
      5.05 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_58">Payment
      of Securities Permitted </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_58">52
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_58"></A></TD>
    <TD align=left ><A
      href="#page_58">Section
      5.06 </A></TD>
    <TD align=left><A
      href="#page_58">Subordination
      Not to be Impaired </A></TD>
    <TD align=right ><A
      href="#page_58">52
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_58"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_58">Section
      5.07 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_58">Obligations
      Created by Article 5 </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_58">52
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_59"></A></TD>
    <TD align=left ><A
      href="#page_59">Section
      5.08 </A></TD>
    <TD align=left><A
      href="#page_59">No
      Set-Off </A></TD>
    <TD align=right ><A
      href="#page_59">53
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_59"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_59">Section
      5.09 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_59">Amendments
      to Article 5 </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_59">53
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_59"></A></TD>
    <TD align=left ><A
      href="#page_59">Section
      5.10 </A></TD>
    <TD align=left><A
      href="#page_59">Authorization
      to Trustees to Effect Subordination </A></TD>
    <TD align=right ><A
      href="#page_59">53
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_60">ARTICLE
      SIX REMEDIES </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_60">54</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_59"></A></TD>
    <TD align=left ><A
      href="#page_60">Section
      6.01 </A></TD>
    <TD align=left><A
      href="#page_60">Events
      of Default </A></TD>
    <TD align=right ><A
      href="#page_60">54</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_61"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_62">Section
      6.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_62">Acceleration
      of Maturity; Rescission and Annulment </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_62">56</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_62"></A></TD>
    <TD align=left ><A
      href="#page_63">Section
      6.03 </A></TD>
    <TD align=left><A
      href="#page_63">Collection
      of Debt and Suits for Enforcement by Trustees </A></TD>
    <TD align=right ><A
      href="#page_63">57</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_63"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_63">Section
      6.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_63">Trustees
      May File Proofs of Claim </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_63">57
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_64"></A></TD>
    <TD align=left ><A
      href="#page_64">Section
      6.05 </A></TD>
    <TD align=left><A
      href="#page_64">Trustees
      May Enforce Claims Without Possession of Securities </A></TD>
    <TD align=right ><A
      href="#page_64">58
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_64"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_64">Section
      6.06 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_64">Application
      of Money Collected </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_64">58
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_65"></A></TD>
    <TD align=left ><A
      href="#page_65">Section
      6.07 </A></TD>
    <TD align=left><A
      href="#page_65">Limitation
      on Suits </A></TD>
    <TD align=right ><A
      href="#page_65">59
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee ></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_66">Section
      6.08 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_66">Unconditional
      Right of Holders to Receive Principal, Premium and Interest </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_66">60
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_66"></A></TD>
    <TD align=left ><A
      href="#page_66">Section
      6.09 </A></TD>
    <TD align=left><A
      href="#page_66">Restoration
      of Rights and Remedies </A></TD>
    <TD align=right ><A
      href="#page_66">60
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_66"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_66">Section
      6.10 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_66">Rights
      and Remedies Cumulative </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_66">60
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_66"></A></TD>
    <TD align=left ><A
      href="#page_66">Section
      6.11 </A></TD>
    <TD align=left><A
      href="#page_66">Delay
      or Omission Not Waiver </A></TD>
    <TD align=right ><A
      href="#page_66">60
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_66"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_67">Section
      6.12 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_67">Control
      by Holders </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_67">61</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_67"></A></TD>
    <TD align=left ><A
      href="#page_67">Section
      6.13 </A></TD>
    <TD align=left><A
      href="#page_67">Waiver
      of Past Defaults </A></TD>
    <TD align=right ><A
      href="#page_67">61
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_67"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_67">Section
      6.14 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_67">Waiver
      of Stay or Extension Laws </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_67">61
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_68"></A></TD>
    <TD align=left ><A
      href="#page_68">Section
      6.15 </A></TD>
    <TD align=left><A
      href="#page_68">Undertaking
      for Costs </A></TD>
    <TD align=right ><A
      href="#page_68">62
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_68">ARTICLE
      SEVEN THE TRUSTEES </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_68">62
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_68"></A></TD>
    <TD align=left ><A
      href="#page_68">Section
      7.01 </A></TD>
    <TD align=left><A
      href="#page_68">Notice
      of Defaults </A></TD>
    <TD align=right ><A
      href="#page_68">62
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_68"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_68">Section
      7.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_68">Certain
      Duties and Responsibilities of Trustees </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_68">62
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_70"></A></TD>
    <TD align=left ><A
      href="#page_70">Section
      7.03 </A></TD>
    <TD align=left><A
      href="#page_70">Certain
      Rights of Trustees </A></TD>
    <TD align=right ><A
      href="#page_70">64
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_71"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_71">Section
      7.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_71">Trustees
      Not Responsible for Recitals or Issuance of Securities </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_71">65
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_71"></A></TD>
    <TD align=left ><A
      href="#page_71">Section
      7.05 </A></TD>
    <TD align=left><A
      href="#page_71">May
      Hold Securities </A></TD>
    <TD align=right ><A
      href="#page_71">65
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_71"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_71">Section
      7.06 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_71">Money
      Held in Trust </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_71">65
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_71"></A></TD>
    <TD align=left ><A
      href="#page_71">Section
      7.07 </A></TD>
    <TD align=left><A
      href="#page_71">Compensation
      and Reimbursement </A></TD>
    <TD align=right ><A
      href="#page_71">65
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_72"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_72">Section
      7.08 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_72">Corporate
      Trustees Required; Eligibility </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_72">66
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_73"></A></TD>
    <TD align=left ><A
      href="#page_73">Section
      7.09 </A></TD>
    <TD align=left><A
      href="#page_73">Resignation
      and Removal; Appointment of Successor </A></TD>
    <TD align=right ><A
      href="#page_73">67
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_75"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_75">Section
      7.10 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_75">Acceptance
      of Appointment by Successor </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_75">69
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_76"></A></TD>
    <TD align=left ><A
      href="#page_76">Section
      7.11 </A></TD>
    <TD align=left><A
      href="#page_76">Merger,
      Conversion, Consolidation or Succession to Business </A></TD>
    <TD align=right ><A
      href="#page_76">70
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_76"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_77">Section
      7.12 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_77">Appointment
      of Authenticating Agent </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_77">71</A></TD>
  </TR></TABLE>
<P align=center>- ii -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_78"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_78">Section
      7.13 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_78">Joint
      Trustees </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_78">72
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_79"></A></TD>
    <TD align=left ><A
      href="#page_79">Section
      7.14 </A></TD>
    <TD align=left><A
      href="#page_79">Other
      Rights of Trustees </A></TD>
    <TD align=right ><A
      href="#page_79">73
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_80"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_81">Section
      7.15 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_81">Third
      Party Interests </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_81">75</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  colSpan=3><A
      href="#page_81">ARTICLE
      EIGHT HOLDERS&#146; LISTS AND REPORTS BY TRUSTEE AND COMPANY </A></TD>
    <TD align=right ><A
      href="#page_81">75
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_81"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_81">Section
      8.01 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_81">Company
      to Furnish Trustee Names and Addresses of Holders </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_81">75
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_81"></A></TD>
    <TD align=left ><A
      href="#page_81">Section
      8.02 </A></TD>
    <TD align=left><A
      href="#page_81">Preservation
      of List of Names and Addresses of Holders </A></TD>
    <TD align=right ><A
      href="#page_81">75
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_81"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_81">Section
      8.03 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_81">Disclosure
      of Names and Addresses of Holders </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_81">75
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_81"></A></TD>
    <TD align=left ><A
      href="#page_82">Section
      8.04 </A></TD>
    <TD align=left><A
      href="#page_82">Reports
      by Trustees </A></TD>
    <TD align=right ><A
      href="#page_82">76
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_82"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_82">Section
      8.05 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_82">Reports
      by the Company </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_82">76
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  colSpan=3><A
      href="#page_83">ARTICLE
      NINE CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE </A></TD>
    <TD align=right ><A
      href="#page_83">77
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_83"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_83">Section
      9.01 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_83">Company
      May Consolidate, etc., only on Certain Terms </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_83">77
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_83"></A></TD>
    <TD align=left ><A
      href="#page_83">Section
      9.02 </A></TD>
    <TD align=left><A
      href="#page_83">Successor
      Person Substituted </A></TD>
    <TD align=right ><A
      href="#page_83">77
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_84">ARTICLE
      TEN SUPPLEMENTAL INDENTURES </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_84">78
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_84"></A></TD>
    <TD align=left ><A
      href="#page_84">Section
      10.01 </A></TD>
    <TD align=left><A
      href="#page_84">Supplemental
      Indentures Without Consent of Holders </A></TD>
    <TD align=right ><A
      href="#page_84">78
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_85"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_85">Section
      10.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_85">Supplemental
      Indentures with Consent of Holders </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_85">79
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_86"></A></TD>
    <TD align=left ><A
      href="#page_86">Section
      10.03 </A></TD>
    <TD align=left><A
      href="#page_86">Execution
      of Supplemental Indentures </A></TD>
    <TD align=right ><A
      href="#page_86">80
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_86"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_87">Section
      10.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_87">Effect
      of Supplemental Indentures </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_87">81</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_87"></A></TD>
    <TD align=left ><A
      href="#page_87">Section
      10.05 </A></TD>
    <TD align=left><A
      href="#page_87">Conformity
      with Trust Indenture Legislation </A></TD>
    <TD align=right ><A
      href="#page_87">81
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_87"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_87">Section
      10.06 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_87">Reference
      in Securities to Supplemental Indentures </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_87">81
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_87"></A></TD>
    <TD align=left ><A
      href="#page_87">Section
      10.07 </A></TD>
    <TD align=left><A
      href="#page_87">Notice
      of Supplemental Indentures </A></TD>
    <TD align=right ><A
      href="#page_87">81
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_87">ARTICLE
      ELEVEN COVENANTS </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_87">81
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_87"></A></TD>
    <TD align=left ><A
      href="#page_87">Section
      11.01 </A></TD>
    <TD align=left><A
      href="#page_87">Payment
      of Principal, Premium, if any, and Interest </A></TD>
    <TD align=right ><A
      href="#page_87">81
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_87"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_87">Section
      11.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_87">Maintenance
      of Office or Agency </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_87">81
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_89"></A></TD>
    <TD align=left ><A
      href="#page_89">Section
      11.03 </A></TD>
    <TD align=left><A
      href="#page_89">Money
      for Securities Payments to Be Held in Trust </A></TD>
    <TD align=right ><A
      href="#page_89">83
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_90"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_91">Section
      11.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_91">Statement
      as to Compliance </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_91">85</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_91"></A></TD>
    <TD align=left ><A
      href="#page_91">Section
      11.05 </A></TD>
    <TD align=left><A
      href="#page_91">Additional
      Amounts </A></TD>
    <TD align=right ><A
      href="#page_91">85
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_92"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_92">Section
      11.06 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_92">Payment
      of Taxes and Other Claims </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_92">86
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_92"></A></TD>
    <TD align=left ><A
      href="#page_93">Section
      11.07 </A></TD>
    <TD align=left><A
      href="#page_93">Corporate
      Existence </A></TD>
    <TD align=right ><A
      href="#page_93">87</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_93"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_93">Section
      11.08 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_93">Waiver
      of Certain Covenants </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_93">87
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  colSpan=3><A
      href="#page_93">ARTICLE
      TWELVE REDEMPTION OF SECURITIES </A></TD>
    <TD align=right ><A
      href="#page_93">87
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_93"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_93">Section
      12.01 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_93">Applicability
      of Article </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_93">87
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_93"></A></TD>
    <TD align=left ><A
      href="#page_93">Section
      12.02 </A></TD>
    <TD align=left><A
      href="#page_93">Election
      to Redeem; Notice to Trustees </A></TD>
    <TD align=right ><A
      href="#page_93">87
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_93"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_94">Section
      12.03 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_94">Selection
      by Trustees of Securities to Be Redeemed </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_94">88</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_94"></A></TD>
    <TD align=left ><A
      href="#page_94">Section
      12.04 </A></TD>
    <TD align=left><A
      href="#page_94">Notice
      of Redemption </A></TD>
    <TD align=right ><A
      href="#page_94">88
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_95"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_95">Section
      12.05 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_95">Deposit
      of Redemption Price </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_95">89
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_95"></A></TD>
    <TD align=left ><A
      href="#page_95">Section
      12.06 </A></TD>
    <TD align=left><A
      href="#page_95">Securities
      Payable on Redemption Date </A></TD>
    <TD align=right ><A
      href="#page_95">89
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_96"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_96">Section
      12.07 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_96">Securities
      Redeemed in Part </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_96">90
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_96"></A></TD>
    <TD align=left ><A
      href="#page_96">Section
      12.08 </A></TD>
    <TD align=left><A
      href="#page_96">Tax
      Redemption </A></TD>
    <TD align=right ><A
      href="#page_96">91</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_97">ARTICLE
      THIRTEEN SINKING FUNDS </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_97">91
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_97"></A></TD>
    <TD align=left ><A
      href="#page_97">Section
      13.01 </A></TD>
    <TD align=left><A
      href="#page_97">Applicability
      of Article </A></TD>
    <TD align=right ><A
      href="#page_97">91
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_97"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_98">Section
      13.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_98">Satisfaction
      of Sinking Fund Payments with Securities </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_98">92</A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left  >&nbsp;<A
      href="#page_98"></A></TD>
    <TD width="10%" align=left ><A
      href="#page_98">Section
      13.03 </A></TD>
    <TD align=left><A
      href="#page_98">Redemption
      of Securities for Sinking Fund </A></TD>
    <TD width="5%" align=right ><A
      href="#page_98">92
      </A></TD>
  </TR></TABLE>
<P align=center>- iii -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_99">ARTICLE
      FOURTEEN REPAYMENT AT OPTION OF HOLDERS </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_99">93
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_99"></A></TD>
    <TD align=left ><A
      href="#page_99">Section
      14.01 </A></TD>
    <TD align=left><A
      href="#page_99">Applicability
      of Article </A></TD>
    <TD align=right ><A
      href="#page_99">93
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_99"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_99">Section
      14.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_99">Repayment
      of Securities </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_99">93
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_99"></A></TD>
    <TD align=left ><A
      href="#page_100">Section
      14.03 </A></TD>
    <TD align=left><A
      href="#page_100">Exercise
      of Option </A></TD>
    <TD align=right ><A
      href="#page_100">94</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee ></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_100">Section
      14.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_100">When
      Securities Presented for Repayment Become Due and Payable </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_100">94
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_101"></A></TD>
    <TD align=left ><A
      href="#page_101">Section
      14.05 </A></TD>
    <TD align=left><A
      href="#page_101">Securities
      Repaid in Part </A></TD>
    <TD align=right ><A
      href="#page_101">95
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee colSpan=3><A
      href="#page_101">ARTICLE
      FIFTEEN DEFEASANCE AND COVENANT DEFEASANCE </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_101">95
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  ></TD>
    <TD align=left ><A
      href="#page_101">Section
      15.01 </A></TD>
    <TD align=left><A
      href="#page_101">Company&#146;s
      Option to Effect Defeasance or Covenant Defeasance </A></TD>
    <TD align=right ><A
      href="#page_101">95
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_101"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_101">Section
      15.02 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_101">Defeasance
      and Discharge </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_101">95
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_102"></A></TD>
    <TD align=left ><A
      href="#page_102">Section
      15.03 </A></TD>
    <TD align=left><A
      href="#page_102">Covenant
      Defeasance </A></TD>
    <TD align=right ><A
      href="#page_102">96
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_102"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_102">Section
      15.04 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_102">Conditions
      to Defeasance or Covenant Defeasance </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_102">96
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  ></TD>
    <TD align=left ><A
      href="#page_104">Section
      15.05 </A></TD>
    <TD align=left><A
      href="#page_104">Deposited
      Money and Government Obligations to Be Held in Trust; Other Miscellaneous
      Provisions </A></TD>
    <TD align=right ><A
      href="#page_104">98
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_105"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_105">Section
      15.06 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_105">Reinstatement
      </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_105">99
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  colSpan=3><A
      href="#page_106">ARTICLE
      SIXTEEN MEETINGS OF HOLDERS OF SECURITIES </A></TD>
    <TD align=right ><A
      href="#page_106">100</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_105"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_106">Section
      16.01 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_106">Purposes
      for Which Meetings May Be Called </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_106">100</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_105"></A></TD>
    <TD align=left ><A
      href="#page_106">Section
      16.02 </A></TD>
    <TD align=left><A
      href="#page_106">Call,
      Notice and Place of Meetings </A></TD>
    <TD align=right ><A
      href="#page_106">100</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_106"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_106">Section
      16.03 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_106">Persons
      Entitled to Vote at Meetings </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_106">100
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_106"></A></TD>
    <TD align=left ><A
      href="#page_107">Section
      16.04 </A></TD>
    <TD align=left><A
      href="#page_107">Quorum;
      Action </A></TD>
    <TD align=right ><A
      href="#page_107">101</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee ></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_108">Section
      16.05 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_108">Determination
      of Voting Rights; Conduct and Adjournment of Meetings </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_108">102
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;<A
      href="#page_108"></A></TD>
    <TD align=left ><A
      href="#page_109">Section
      16.06 </A></TD>
    <TD align=left><A
      href="#page_109">Counting
      Votes and Recording Action of Meetings </A></TD>
    <TD align=right ><A
      href="#page_109">103</A></TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  bgColor=#eeeeee >&nbsp;<A
      href="#page_109"></A></TD>
    <TD align=left bgColor=#eeeeee ><A
      href="#page_109">Section
      16.07 </A></TD>
    <TD align=left bgColor=#eeeeee><A
      href="#page_109">Waiver
      of Jury Trial </A></TD>
    <TD align=right bgColor=#eeeeee ><A
      href="#page_109">103
      </A></TD>
  </TR>
  <TR vAlign=top>
    <TD width="5%" align=left  >&nbsp;<A
      href="#page_109"></A></TD>
    <TD width="10%" align=left ><A
      href="#page_109">Section
      16.08 </A></TD>
    <TD align=left><A
      href="#page_109">Counterparts
      </A></TD>
    <TD width="5%" align=right ><A
      href="#page_109">103
      </A></TD>
  </TR></TABLE>
<P align=center>- iv -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_6></A>
<P align=center>CROSS-REFERENCE TABLE</P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="40%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="45%">TIA </TD>
    <TD align=center width="45%">Indenture </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=center width="45%">Section </TD>
    <TD align=center width="45%">Section </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">310 </TD>
    <TD width="45%" align=left bgcolor="#E6EFFF">(a)(1) </TD>
    <TD width="45%" align=left bgcolor="#E6EFFF">7.08(1) </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(a)(2) </TD>
    <TD align=left width="45%">7.08(1) </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">&nbsp; </TD>
    <TD width="45%" align=left bgcolor="#E6EFFF">(b) </TD>
    <TD width="45%" align=left bgcolor="#E6EFFF">7.09 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(c) </TD>
    <TD align=left width="45%">Not Applicable </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">311 </TD>
    <TD width="45%" align=left bgcolor="#E6EFFF">(a) </TD>
    <TD width="45%" align=left bgcolor="#E6EFFF">7.05 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(b) </TD>
    <TD align=left width="45%">7.05 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(c) </TD>
    <TD width="45%" align=left>Not Applicable </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>312 </TD>
    <TD align=left width="45%">(a) </TD>
    <TD align=left width="45%">8.01, 8.02 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(b) </TD>
    <TD width="45%" align=left>8.02 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(c) </TD>
    <TD align=left width="45%">8.03 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>313 </TD>
    <TD width="45%" align=left>(a) </TD>
    <TD width="45%" align=left>8.04 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(b) </TD>
    <TD align=left width="45%">8.04 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(c) </TD>
    <TD width="45%" align=left>8.04 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(d) </TD>
    <TD align=left width="45%">8.04 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>314 </TD>
    <TD width="45%" align=left>(a) </TD>
    <TD width="45%" align=left>8.05 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(a)(4) </TD>
    <TD align=left width="45%">11.04 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(b) </TD>
    <TD width="45%" align=left>Not Applicable </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(c)(1) </TD>
    <TD align=left width="45%">1.02 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(c)(2) </TD>
    <TD width="45%" align=left>1.02 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(d) </TD>
    <TD align=left width="45%">Not Applicable </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(e) </TD>
    <TD width="45%" align=left>1.02 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(f) </TD>
    <TD align=left width="45%">Not Applicable </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>315 </TD>
    <TD width="45%" align=left>(a) </TD>
    <TD width="45%" align=left>7.02 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(b) </TD>
    <TD align=left width="45%">7.01 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(c) </TD>
    <TD width="45%" align=left>7.02 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(d) </TD>
    <TD align=left width="45%">7.02 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(e) </TD>
    <TD width="45%" align=left>6.15 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>316 </TD>
    <TD align=left width="45%">(a)(last sentence) </TD>
    <TD align=left width="45%">1.01 (&#147;Outstanding&#148;) </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(a)(1)(A) </TD>
    <TD width="45%" align=left>6.12 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(a)(1)(B) </TD>
    <TD align=left width="45%">6.02, 6.13 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(a)(2) </TD>
    <TD width="45%" align=left>Not Applicable </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(b) </TD>
    <TD align=left width="45%">6.08 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(c) </TD>
    <TD width="45%" align=left>1.04(e) </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>317 </TD>
    <TD align=left width="45%">(a)(1) </TD>
    <TD align=left width="45%">6.03 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>&nbsp; </TD>
    <TD width="45%" align=left>(a)(2) </TD>
    <TD width="45%" align=left>6.04 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="45%">(b) </TD>
    <TD align=left width="45%">11.03 </TD></TR>
  <TR vAlign=top bgcolor="#E6EFFF">
    <TD align=left>318 </TD>
    <TD width="45%" align=left>(a) </TD>
    <TD width="45%" align=left>1.16 </TD>
  </TR></TABLE></DIV>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note: This Cross-Reference Table
shall not, for any purpose, be deemed to be part of this Indenture.</P>
<P align=center>- v -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_7></A>
<P align=center><B>TASEKO MINES LIMITED</B></P>
<P align=center><B>FORM OF INDENTURE</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDENTURE, dated as of
____________________, between Taseko Mines Limited, a corporation duly existing
under the laws of British Columbia, Canada (herein called the &#147;Company&#148;), having
its principal office at Suite 300, 905 West Pender Street, Vancouver, British
Columbia, Canada V6C 1L6, and &#149;, a trust company, organized under the laws of
the United States, as U.S. trustee (herein called the &#147;U.S. Trustee&#148;), and &#149;, a
trust company duly organized and existing under the laws of Canada, as Canadian
trustee (the &#147;Canadian Trustee&#148; and, together with the U.S. Trustee, the
&#147;Trustees&#148;).</P>
<P align=center>RECITALS OF THE COMPANY</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has duly authorized
the execution and delivery of this Indenture to provide for the issuance from
time to time of its unsecured debentures, notes or other evidences of
indebtedness (herein called the &#147;Securities&#148;), which may be convertible into or
exchangeable for any securities of any person (including the Company), to be
issued in one or more series as in this Indenture provided.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indenture is subject to the
provisions of Trust Indenture Legislation (as defined below) that are required
to be part of this Indenture and shall, to the extent applicable, be governed by
such provisions.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All things necessary to make this
Indenture a valid agreement of the Company, in accordance with its terms, have
been done.</P>
<P align=justify>NOW, THEREFORE, THIS INDENTURE WITNESSETH:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For and in consideration of the
premises and the purchase of the Securities by the Holders (as defined below)
thereof, it is mutually covenanted and agreed, for the equal and proportionate
benefit of all Holders of the Securities or of series thereof, as follows:</P>
<P align=center>ARTICLE ONE<BR>DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION</P>
<P align=justify><STRONG>Section
1.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Definitions</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For all purposes of this
Indenture, except as otherwise expressly provided or unless the context
otherwise requires:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the terms defined in this Article have the meanings
      assigned to them in this Article and include the plural as well as the
      singular;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>all other terms used herein which are defined in the
      Trust Indenture Act, either directly or by reference therein, have the
      meanings assigned to them therein, and the terms &#147;cash transaction&#148; and
      &#147;self-liquidating paper&#148;, as used in Section 311 of the Trust Indenture Act, shall have the meanings
      assigned to them in the rules of the Commission adopted under the Trust
  Indenture Act;</P></TD></TR></TABLE>
<P align=center>- 1 -</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>all accounting terms not otherwise defined herein have
      the meanings assigned to them in accordance with United States generally
      accepted accounting principles, and, except as otherwise herein expressly
      provided, the term &#147;generally accepted accounting principles&#148; with respect
      to any computation required or permitted hereunder shall mean such
      accounting principles as are generally accepted in the United States at
      the date of such computation;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>the words &#147;herein&#148;, &#147;hereof&#148; and &#147;hereunder&#148; and other
      words of similar import refer to this Indenture as a whole and not to any
      particular Article, Section or other subdivision;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(e) </TD>
    <TD>
      <P align=justify>&#147;or&#148; is not exclusive;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(f) </TD>
    <TD>
      <P align=justify>words implying any gender shall apply to all
    genders;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(g) </TD>
    <TD>
      <P align=justify>the words Subsection, Section and Article refer to the
      Subsections, Sections and Articles, respectively, of this Indenture unless
      otherwise noted; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(h) </TD>
    <TD>
      <P align=justify>&#147;include&#148;, &#147;includes&#148; or &#147;including&#148; means include,
      includes or including, in each case, without
limitation.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain terms, used principally
in Article Three, are defined in that Article. In this Indenture: </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;accelerated
  indebtedness&#148; has the meaning specified in Section 6.01;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Act&#148;, when used with respect to
any Holder, has the meaning specified in Section 1.04;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Additional Amounts&#148; has the
meaning specified in Section 11.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Affiliate&#148; of any specified
Person means any other Person directly or indirectly controlling or controlled
by or under direct or indirect common control with such specified Person. For
the purposes of this definition, &#147;control&#148; when used with respect to any
specified Person means the power to direct the management and policies of such
Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms &#147;controlling&#148; and
&#147;controlled&#148; have meanings correlative to the foregoing;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Appropriate Trustee&#148; means, with
respect to the Canadian Securities, the Canadian Trustee, and with respect to
the U.S. Securities, the U.S. Trustee;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Authenticating Agent&#148; means any
Person authorized by either Trustee pursuant to Section 7.12 to act on behalf of
such Trustee to authenticate Securities;</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Authorized Newspaper&#148; means a
newspaper, in the English language or in an official language of the country of
publication, customarily published on each Business Day, and of general
circulation in each place in connection with which the term is used or in the
financial community of each such place. Where successive publications are
required to be made in Authorized Newspapers, the successive publications may be
made in the same or in different newspapers in the same city meeting the
foregoing requirements and in each case on any Business Day;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Base Currency&#148; has the meaning
specified in Section 1.14;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Bearer Security&#148; means any
Security except a Registered Security;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board of Directors&#148; means either
the board of directors of the Company or any duly authorized committee of such
board;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Board Resolution&#148; means a copy
of a resolution certified by the Chief Financial Officer or the Corporate
Secretary of the Company to have been duly adopted by the Board of Directors and
to be in full force and effect on the date of such certification, and delivered
to the Trustees;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Branch Register&#148; has the meaning
specified in Section 3.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Branch Security Registrar&#148; has
the meaning specified in Section 3.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Business Day&#148;, when used with
respect to any Place of Payment or any other particular location referred to in
this Indenture or in the Securities, means, unless otherwise specified with
respect to any Securities pursuant to Section 3.01, any day other than Saturday,
Sunday or any other day on which the offices of the Trustees are closed;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;calculation period&#148; has the
meaning specified in Section 3.11;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Canadian Securities Authorities&#148;
means the securities commissions or similar authorities in Canada;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Canadian Taxes&#148; has the meaning
specified in Section 11.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Canadian Trustee&#148; means the
Person named as the &#147;Canadian Trustee&#148; in the first paragraph of this Indenture
until a successor Canadian Trustee shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter &#147;Canadian Trustee&#148; shall
mean or include each Person who is then a Canadian Trustee hereunder;
<U>provided</U>, <U>however</U>, that if at any time there is more than one such
Person, &#147;Canadian Trustee&#148; as used with respect to the Securities of any series
shall mean only the Canadian Trustee with respect to Securities of that
series;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Capital Lease Obligation&#148; means
the obligation of a Person, as lessee, to pay rent or other amounts to the
lessor under a lease of real or personal property which is required to be
classified and accounted for as a capital lease on a consolidated balance sheet
of such person in accordance with GAAP;</P>
<P align=center>- 3 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Capital Stock&#148; in any Person
means any and all shares, interests, partnership interests, participations or
other equivalents however designated in the equity interest in such Person and
any rights (other than debt securities convertible into an equity interest),
warrants or options to acquire any equity interest in such Person;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Central Register&#148; has the
meaning specified in Section 3.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Central Security Registrar&#148; has
the meaning specified in Section 3.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Commission&#148; means the U.S.
Securities and Exchange Commission, as from time to time constituted, created
under the Exchange Act, or, if at any time after the execution of this Indenture
such Commission is not existing and performing the duties now assigned to it
under the Trust Indenture Act, then the body performing such duties at such
time;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Common Depositary&#148; has the
meaning specified in Section 3.04;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Company&#148; means the Person named
as the &#147;Company&#148; in the first paragraph of this Indenture until a successor
Person shall have become such pursuant to the applicable provisions of this
Indenture, and thereafter &#147;Company&#148; shall mean such successor Person;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Company Request&#148; or &#147;Company
Order&#148; means a written request or order signed in the name of the Company by the
Executive Chairman of the Board of Directors, the President, the Chief Executive
Officer, or the Senior Vice President Operations, or if two or more persons
share such office any one of such persons, and by the Chief Financial Officer or
the Corporate Secretary of the Company, or if two or more persons share such
office any one of such persons, and delivered to the Trustees;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Component Currency&#148; has the
meaning specified in Section 3.12(h);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Conversion Date&#148; has the meaning
specified in Section 3.12(d);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Conversion Event&#148; means the
cessation of use of (a) a Foreign Currency (other than the Euro or other
currency unit both by the government of the country which issued such Currency
and by a central bank or other public institution of or within the international
banking community for the settlement of transactions, (b) the Euro or (c) any
currency unit (or composite currency) other than the Euro for the purposes for
which it was established;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Corporate Trust Office&#148; means
the principal corporate trust office of the U.S. Trustee or the Canadian
Trustee, as applicable, or the principal corporate trust office of any successor
Trustee, at which at any particular time its corporate trust business may be
administered, such an office on the date of execution of this Indenture of the
U.S. Trustee is located at &#149;, Attention: &#149;, Facsimile No. &#149; and of the Canadian
Trustee is located at &#149;, Attention: &#149;, Facsimile No. &#149;, except that with respect
to presentation of Securities for payment or for registration of transfer or
exchange, such term shall mean the office or agency of the U.S. Trustee or the
Canadian Trustee, as applicable, designated in writing to the Company at which,
at any particular time, its corporate agency business shall be conducted;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;corporation&#148; includes
corporations, associations, companies and business trusts;</P>
<P align=center>- 4 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;coupon&#148; means any interest
coupon appertaining to a Bearer Security;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;covenant defeasance&#148; has the
meaning specified in Section 15.03;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Currency&#148; means any currency or
currencies, composite currency or currency unit or currency units, including,
without limitation, the Euro, issued by the government of one or more countries
or by any recognized confederation or association of such governments;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Default&#148; means any event which
is, or after notice or passage of time or both would be, an Event of
Default;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Defaulted Interest&#148; has the
meaning specified in Section 3.07;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;defeasance&#148; has the meaning
specified in Section 15.02.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Depositary &#147; means, with respect
to the Securities of any series issuable or issued in the form of one or more
Registered Securities, the Depositary Trust Company, or any successor thereto,
or any other Person designated as Depositary by the Company pursuant to Section
3.05 until a successor Depositary shall have become such pursuant to the
applicable provisions of this Indenture, and thereafter &#147;Depositary&#148; shall mean
or include each Person who is then a Depositary hereunder, and, if at any time
there is more than one such Person, &#147;Depositary&#148; as used with respect to the
Securities of any such series shall mean the Depositary with respect to the
Registered Securities of that series;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Dollar&#148; or &#147;$&#148; means a dollar or
other equivalent unit in such coin or currency of the United States of America
as at the time shall be legal tender for the payment of public and private
debts;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Dollar Equivalent of the
Currency Unit&#148; has the meaning specified in Section 3.12(g);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Dollar Equivalent of the Foreign
Currency&#148; has the meaning specified in Section 3.12(f);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Election Date&#148; has the meaning
specified in Section 3.12(h);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Euro&#148; means the single currency
of the participating member states from time to time of the European Union
described in legislation of the European Counsel for the operation of a single
unified European currency (whether known as the Euro or otherwise);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Event of Default&#148; has the
meaning specified in Section 6.01;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Act&#148; means the United
States <I>Securities Exchange Act of 1934, </I>as amended;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Date&#148; has the meaning
specified in Section 3.04;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Rate Agent&#148; means, with
respect to Securities of or within any series, unless otherwise specified with
respect to any Securities pursuant to Section 3.01, a New York clearing house
bank, designated pursuant to Section 3.01 or Section 3.13;</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchange Rate Officers&#146;
Certificate&#148; means a certificate setting forth (i) the applicable Market
Exchange Rate and (ii) the Dollar or Foreign Currency amounts of principal (and
premium, if any) and interest, if any (on an aggregate basis and on the basis of
a Security having the lowest denomination principal amount determined in
accordance with Section 3.02 below in the relevant Currency), payable with
respect to a Security of any series on the basis of such Market Exchange Rate,
signed by the Chief Executive Officer, President or Chief Financial Officer of
the Company;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Exchanges&#148; means the NYSE Amex,
the Toronto Stock Exchange and any other securities exchange or automated
quotation system upon which the Securities are or become listed or quoted;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Excluded Holder&#148; has the meaning
specified in Section 11.05; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Extension Notice&#148; has the
meaning specified in Section 3.08; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Extension Period&#148; has the
meaning specified in Section 3.08; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Final Maturity&#148; has the meaning
specified in Section 3.08; </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;First Currency&#148; has the meaning
specified in Section 1.15;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Foreign Currency&#148; means any
Currency other than Currency of the United States;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;GAAP&#148; means generally accepted
accounting principles in the United States in effect from time to time;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Government Obligations&#148; means,
unless otherwise specified with respect to any series of Securities pursuant to
Section 3.01, securities which are (i) direct obligations of the government
which issued the Currency in which the Securities of a particular series are
payable or (ii) obligations of a Person controlled or supervised by and acting
as an agency or instrumentality of the government which issued the Currency in
which the Securities of such series are payable, the payment of which is
unconditionally guaranteed by such government, which, in either case, are full
faith and credit obligations of such government payable in such Currency and are
not callable or redeemable at the option of the issuer thereof and shall also
include a depositary receipt issued by a bank or trust company as custodian with
respect to any such Government Obligation or a specific payment of interest on
or principal of any such Government Obligation held by such custodian for the
account of the holder of a depositary receipt; <U>provided </U>that (except as
required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depositary receipt from any amount received
by the custodian in respect of the Government Obligation or the specific payment
of interest or principal of the Government Obligation evidenced by such
depositary receipt;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Holder&#148; means, in the case of a
Registered Security, the Person in whose name a Security is registered in the
Security Register and, in the case of a Bearer Security, the bearer thereof and,
when used with respect to any coupon, shall mean the bearer thereof;</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Indenture&#148; means this instrument
as originally executed and as it may from time to time be supplemented or
amended by one or more indentures supplemental hereto entered into pursuant to
the applicable provisions hereof, and shall include the terms of particular
series of Securities established as contemplated by Section 3.01;
<U>provided</U>, <U>however</U>, that, if at any time more than one Person is
acting as Trustee under this instrument, &#147;Indenture&#148; shall mean, with respect to
any one or more series of Securities for which such Person is Trustee, this
instrument as originally executed or as it may from time to time be supplemented
or amended by one or more indentures supplemental hereto entered into pursuant
to the applicable provisions hereof and shall include the terms of the
particular series of Securities for which such Person is Trustee established as
contemplated by Section 3.01, exclusive, however, of any provisions or terms
which relate solely to other series of Securities for which such Person is not
Trustee, regardless of when such terms or provisions were adopted, and exclusive
of any provisions or terms adopted by means of one or more indentures
supplemental hereto executed and delivered after such Person had become such
Trustee but to which such Person, as such Trustee, was not a party;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Indexed Security&#148; means a
Security the terms of which provide that the principal amount thereof payable at
Stated Maturity may be more or less than the principal face amount thereof at
original issuance;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;interest&#148;, when used with
respect to an Original Issue Discount Security which by its terms bears interest
only after Maturity, means interest payable after Maturity at the rate
prescribed in such Original Issue Discount Security;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Interest Payment Date&#148;, when
used with respect to any Security, means the Stated Maturity of an installment
of interest on such Security;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Judgment Currency&#148; has the
meaning specified in Section 1.14;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Lien&#148; means any mortgage,
pledge, hypothecation, charge, assignment, deposit arrangement, encumbrance,
security interest, lien (statutory or other), or preference, priority or other
security or similar agreement or preferential arrangement of any kind or nature
whatsoever (including, without limitation, any agreement to give or grant a Lien
or any lease, conditional sale or other title retention agreement having
substantially the same economic effect as any of the foregoing) but not
including any security interest in respect of a lease which is not a Capital
Lease Obligation and provided that such term shall not include any encumbrance
that may be deemed to arise solely as a result of entering into an agreement,
not in violation of the terms of this Indenture, to sell or otherwise transfer
assets or Property;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;mandatory sinking fund payment&#148;
has the meaning specified in Section 13.01;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Market Exchange Rate&#148; means,
unless otherwise specified with respect to any Securities pursuant to Section
3.01, (i) for any conversion involving a currency unit on the one hand and
Dollars or any Foreign Currency on the other, the exchange rate between the
relevant currency unit and Dollars or such Foreign Currency calculated by the
method specified pursuant to Section 3.01 for the Securities of the relevant
series, (ii) for any conversion of Dollars into any Foreign Currency, buying
rate for such Foreign Currency for cable transfers quoted in New York City as certified for customs purposes by the Federal Reserve
Bank of New York and (iii) for any conversion of one Foreign Currency into
Dollars or another Foreign Currency, the spot rate at noon local time in the
relevant market at which, in accordance with normal banking procedures, the
Dollars or Foreign Currency into which conversion is being made could be
purchased with the Foreign Currency from which conversion is being made from
major banks located in New York City, Toronto, London or any other principal
market for Dollars or such purchased Foreign Currency, in each case determined
by the Exchange Rate Agent. Unless otherwise specified with respect to any
Securities pursuant to Section 3.01, in the event of the unavailability of any
of the exchange rates provided for in the foregoing clauses (i), (ii) and (iii),
the Exchange Rate Agent shall use, in its sole discretion and without liability
on its part, such quotation of the Federal Reserve Bank of New York as of the
most recent available date, or quotations from one or more major banks in New
York City, Toronto or another principal market for the Currency in question, or
such other quotations as the Exchange Rate Agent shall deem appropriate. Unless
otherwise specified by the Exchange Rate Agent, if there is more than one market
for dealing in any Currency by reason of foreign exchange regulations or
otherwise, the market to be used in respect of such Currency shall be that upon
which a non-resident issuer of securities designated in such Currency would
purchase such Currency in order to make payments in respect of such
securities;</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Maturity&#148;, when used with
respect to any Security, means the date on which the principal of such Security
or an installment of principal becomes due and payable as therein or herein
provided, whether at the Stated Maturity or by declaration of acceleration,
notice of redemption, notice of option to elect repayment or otherwise;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Non-Recourse Debt&#148; means
indebtedness to finance the creation, development, construction or acquisition
of assets and any increases in or extensions, renewals or refinancings of such
indebtedness, provided that the recourse of the lender thereof (including any
agent, trustee, receiver or other Person acting on behalf of such entity) in
respect of such indebtedness is limited in all circumstances to the assets
created, developed, constructed or acquired in respect of which such
indebtedness has been incurred and to the receivables, inventory, equipment,
chattels payable, contracts, intangibles and other assets, rights or collateral
connected with the assets created, developed, constructed or acquired and to
which such lender has recourse;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Notice of Default&#148; has the
meaning specified in Section 6.01;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Officers&#146; Certificate&#148; means a
certificate, which shall comply with this Indenture, signed by the Chairman of
the Board of Directors, the President, the Chief Executive Officer, or the
Senior Vice President Operations, or if two or more persons share such office
any one of such persons, and by the Chief Financial Officer or the Corporate
Secretary of the Company, or if two or more persons share such office any one of
such persons, and delivered to the Trustees;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Opinion of Counsel&#148; means a
written opinion of counsel, who may be counsel for the Company, including an
employee of the Company;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Optional Reset Date&#148; has the
meaning specified in Section 3.07;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;optional sinking fund payment&#148;
has the meaning specified in Section 13.01;</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Original Issue Discount
Security&#148; means any Security which provides for an amount less than the
principal amount thereof to be due and payable upon a declaration of
acceleration of the Maturity thereof pursuant to Section 6.02;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Original Stated Maturity&#148; has
the meaning specified in Section 3.08;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Other Currency&#148; has the meaning
specified in Section 1.15;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Outstanding&#148;, when used with
respect to Securities, means, as of the date of determination, all Securities
theretofore authenticated and delivered under this Indenture, except:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>Securities theretofore cancelled by a Trustee or
      delivered to a Trustee for cancellation;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>Securities, or portions thereof, for whose payment or
      redemption or repayment at the option of the Holder, money in the
      necessary amount has been theretofore deposited with a Trustee or any
      Paying Agent (other than the Company) in trust or set aside and segregated
      in trust by the Company (if the Company shall act as its own Paying Agent)
      for the Holders of such Securities and any coupons appertaining thereto;
      provided that, if such Securities are to be redeemed, notice of such
      redemption has been duly given pursuant to this Indenture or provision
      therefor satisfactory to the Trustees has been made;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>Securities, except to the extent provided in Section
      15.02 and Section 15.03, with respect to which the Company has effected
      defeasance and/or covenant defeasance as provided in Article Fourteen;
      and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>Securities which have been paid pursuant to Section 3.06
      or in exchange for or in lieu of which other Securities have been
      authenticated and delivered pursuant to this Indenture, other than any
      such Securities in respect of which there shall have been presented to the
      Trustees proof satisfactory to them that such Securities are held by a
      protected purchaser (as defined in Article 8 of the UCC) in whose hands
      such Securities are valid obligations of the
Company;</P></TD></TR></TABLE>
<P align=justify><U>provided</U>, <U>however</U>, that in determining whether
the Holders of the requisite principal amount of the Outstanding Securities have
given any request, demand, authorization, direction, notice, consent or waiver
hereunder or are present at a meeting of Holders for quorum purposes, and for
the purpose of making the calculations required by TIA Section 313, (i) the
principal amount of an Original Issue Discount Security that may be counted in
making such determination or calculation and that shall be deemed to be
Outstanding for such purpose shall be equal to the amount of principal thereof
that would be (or shall have been declared to be) due and payable, at the time
of such determination, upon a declaration of acceleration of the maturity
thereof pursuant to Section 6.02, (ii) the principal amount of any Security
denominated in a Foreign Currency that may be counted in making such
determination or calculation and that shall be deemed Outstanding for such
purpose shall be equal to the Dollar equivalent, determined as of the date such
Security is originally issued by the Company as set forth in an Exchange Rate
Officers&#146; Certificate delivered to the Trustees, of the principal amount (or, in
the case of an Original Issue Discount Security, the Dollar equivalent as of
such date of original issuance of the amount determined as provided in clause (i) above) of such
Security, (iii) the principal amount of any Indexed Security that may be counted
in making such determination or calculation and that shall be deemed outstanding
for such purpose shall be equal to the principal face amount of such Indexed
Security at original issuance, unless otherwise provided with respect to such
Security pursuant to Section 3.01, and (iv) Securities owned by the Company or
any other obligor upon the Securities or any Affiliate of the Company or of such
other obligor shall be disregarded and deemed not to be Outstanding, except
that, in determining whether the Trustees shall be protected in making such
calculation or in relying upon any such request, demand, authorization,
direction, notice, consent or waiver, only Securities which the Trustees know to
be so owned shall be so disregarded. Securities so owned which have been pledged
in good faith may be regarded as Outstanding if the pledgee establishes to the
satisfaction of the Trustees the pledgee&#146;s right so to act with respect to such
Securities and that the pledgee is not the Company or any other obligor upon the
Securities or any Affiliate of the Company or such other obligor;</P>
<P align=center>- 9 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Paying Agent&#148; means any Person
(including the Company acting as Paying Agent) authorized by the Company to pay
the principal of (or premium, if any) or interest, if any, on any Securities on
behalf of the Company. Such Person, at the responsibility of the Company, must
be able to make payment in the currency of the issued Security;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Person&#148; means any individual,
corporation, body corporate, partnership, joint venture, limited liability
company, association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Place of Payment&#148; means, when
used with respect to the Securities of or within any series, each place where
the principal of (and premium, if any) and interest, if any, on such Securities
are payable in the United States and Canada as specified as contemplated by
Section 3.01 and Section 11.02;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Predecessor Security&#148; of any
particular Security means every previous Security evidencing all or a portion of
the same debt as that evidenced by such particular Security; and, for the
purposes of this definition, any security authenticated and delivered under
Section 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or
stolen Security or a Security to which a mutilated, destroyed, lost or stolen
coupon appertains shall be deemed to evidence the same debt as the mutilated,
destroyed, lost or stolen Security or the Security to which the mutilated,
destroyed, lost or stolen coupon appertains, as the case may be;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;rate(s) of exchange&#148; has the
meaning specified in Section 1.14;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Redemption Date&#148;, when used with
respect to any Security to be redeemed, in whole or in part, means the date
fixed for such redemption by or pursuant to this Indenture;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Redemption Price&#148;, when used
with respect to any Security to be redeemed, in whole or in part, means the
price at which it is to be redeemed pursuant to this Indenture, plus accrued and
unpaid interest thereon to the Redemption Date;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Registered Security&#148; means any
Security registered in the Security Register;</P>
<P align=center>- 10 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Regular Record Date&#148; for the
interest payable on any Interest Payment Date on the Registered Securities of or
within any series means the date specified for that purpose as contemplated by
Section 3.01;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Repayment Date&#148; means, when used
with respect to any Security to be repaid at the option of the Holder, the date
fixed for such repayment pursuant to this Indenture;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Repayment Price&#148; means, when
used with respect to any Security to be repaid at the option of the Holder, the
price at which it is to be repaid pursuant to this Indenture;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Reset Notice&#148; has the meaning specified in Section 3.07;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Responsible Officer&#148;, when used
with respect to a Trustee, means any vice president, secretary, any assistant
secretary, treasurer, any assistant treasurer, any senior trust officer, any
trust officer, the controller within the corporate trust administration division
of a Trustee or any other officer of a Trustee customarily performing functions
similar to those performed by any of the above-designated officers, and also
means, with respect to a particular corporate trust matter, any other officer to
whom such matter is referred because of his knowledge of and familiarity with
the particular subject;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Securities&#148; has the meaning
stated in the first recital of this Indenture and more particularly means any
Securities authenticated and delivered under this Indenture; <U>provided</U>,
<U>however</U>, that if at any time there is more than one Person acting as
Trustee under this Indenture, &#147;Securities&#148; with respect to the Indenture as to
which such Person is Trustee shall have the meaning stated in the first recital
of this Indenture and shall more particularly mean Securities authenticated and
delivered under this Indenture, exclusive, however, of Securities of any series
as to which such Person is not Trustee;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Security Register&#148; and &#147;Security
Registrar&#148; have the respective meanings specified in Section 3.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Senior Default&#148; means (i) any
default or event of default under any instrument creating any Senior
Indebtedness, or (ii) any event which would, with giving of notice, lapse of
time, or both, or subject to any other condition subsequent to such event,
constitute such a default or event of default;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Senior Indebtedness&#148; means:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD colSpan=2>
      <P align=justify>all indebtedness of the Company in respect of borrowed
      money, other than:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>indebtedness evidenced by the Securities; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>indebtedness which, by the terms of the instrument
      creating or evidencing the same, is expressed to rank in right of payment
      equally with or subordinate to the indebtedness evidenced by the
      Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD colSpan=2>
      <P align=justify>all obligations of the Company for the reimbursement of
      amounts paid pursuant to any letter of credit, banker&#146;s acceptance or
      similar credit transaction; and</P></TD></TR></TABLE>
<P align=center>- 11 -</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>all obligations of the type referred to in paragraphs (a)
      through (b) above of other Persons for the payment of which the Company is
      responsible or liable as obligor, guarantor or
otherwise,</P></TD></TR></TABLE>
<P align=justify>and, for greater certainty, &#147;Senior Indebtedness&#148; will include
all indebtedness of the Company for borrowed money which is outstanding as at
the date hereof;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Shareholders&#146; Equity&#148; means the
aggregate amount of shareholders&#146; equity of the Company as shown on the most
recent audited annual consolidated balance sheet of the Company and computed in
accordance with GAAP;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Special Record Date&#148; for the
payment of any Defaulted Interest on the Registered Securities of or within any
series means a date fixed by the Trustees pursuant to Section 3.07;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Specified Amount&#148; has the
meaning specified in Section 3.12(h);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Stated Maturity&#148;, when used with
respect to any Security or any installment of principal thereof or interest
thereon, means the date specified in such Security or a coupon representing such
installment of interest as the fixed date on which the principal of such
Security or such installment of principal or interest is due and payable, as
such date may be extended pursuant to the provisions of Section 3.08;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsequent Interest Period&#148; has
the meaning specified in Section 3.07;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Subsidiary&#148; means, any
corporation of which at the time of determination the Company, directly and/or
indirectly through one or more Subsidiaries, owns more than 50% of the shares of
Voting Stock or partnership, joint venture, limited liability company,
association, company or business trust interests;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Trust Indenture Act&#148; or &#147;TIA&#148;
means the United States <I>Trust Indenture Act of 1939</I>, as amended, as in
force at the date as of which this Indenture was executed, except as provided in
Section 10.05;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Trust Indenture Legislation&#148;
means, at any time, the provisions of (i) the provisions of any applicable
statute of Canada or any province or territory thereof and the regulations
thereunder as amended or re-enacted from time to time, but only to the extent
applicable, or (ii) the Trust Indenture Act and regulations thereunder, in each
case, relating to trust indentures and to the rights, duties and obligations of
trustees under trust indentures and of corporations issuing debt obligations
under trust indentures, to the extent that such provisions are at such time in
force and applicable to this Indenture or the Company or the Trustees;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Trustee&#148; or &#147;Trustees&#148; means the
U.S. Trustee and the Canadian Trustee. Except to the extent otherwise indicated,
&#147;Trustees&#148; shall refer to the Canadian Trustee and the U.S. Trustee, both
jointly and individually;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;UCC&#148; means the New York uniform
commercial code in effect from time to time;</P>
<P align=center>- 12 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;U.S. Federal Bankruptcy Code&#148;
means the <I>Bankruptcy Act of Title 11 of the United States Code</I>, as
amended from time to time;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;U.S. Trustee&#148; means the Person
named as the &#147;U.S. Trustee&#148; in the first paragraph of this Indenture until a
successor U.S. Trustee shall have become such pursuant to the applicable
provisions of this Indenture, and thereafter &#147;U.S. Trustee&#148; shall mean or
include each Person who is then a U.S. Trustee hereunder; <U>provided</U>,
<U>however</U>, that if at any time there is more than one such Person, &#147;U.S.
Trustee&#148; as used with respect to the Securities of any series shall mean only
the U.S. Trustee with respect to Securities of that series;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;United States&#148; means, unless
otherwise specified with respect to any Securities pursuant to Section 3.01, the
United States of America (including the states and the District of Columbia),
its territories, its possessions and other areas subject to its
jurisdiction;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;United States person&#148; means,
unless otherwise specified with respect to any Securities pursuant to Section
3.01, an individual who is a citizen or resident of the United States, a
corporation, partnership or other entity created or organized in or under the
laws of the United States, an estate the income of which is subject to United
States federal income taxation regardless of its source, or a trust if (A) it is
subject to the primary supervision of a court within the United States and one
or more United States persons have the authority to control all substantial
decisions of the trust or (B) it has a valid election in effect under applicable
Treasury Regulations to be treated as a United States person;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Valuation Date&#148; has the meaning
specified in Section 3.12(c);</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Vice President&#148;, when used with
respect to the Trustees, means any vice president, whether or not designated by
a number or a word or words added before or after the title &#147;vice
president&#148;;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Voting Stock&#148; means with respect
to any Person, securities of any class or classes of Capital Stock in such
Person entitling the holder thereof (whether at all times or at the time that
such class of Capital Stock has voting power by reason of the happening of any
contingency) to vote in the election of members of the board of directors or
comparable body of such Person;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Writing&#148; has the meaning
specified in Section 7.13; and</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Yield to Maturity&#148; means the
yield to maturity, computed at the time of issuance of a Security (or, if
applicable, at the most recent redetermination of interest on such Security) and
as set forth in such Security in accordance with generally accepted United
States bond yield computation principles.</P>
<P align=justify><STRONG>Section
1.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Compliance
Certificates and Opinions</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any application or request
by the Company to the Trustees to take any action under any provision of this
Indenture, the Company shall furnish to the Trustees, to the extent required by
the Trust Indenture Act, an Officers&#146; Certificate stating that all conditions
precedent, if any, provided for in this Indenture (including any covenant
compliance with which constitutes a condition precedent) relating to the
proposed action have been complied with and, if requested by the Trustee, an Opinion of Counsel stating that in the
opinion of such counsel all such conditions precedent, if any, have been
complied with, except that in the case of any such application or request as to
which the furnishing of such documents is specifically required by any provision
of this Indenture relating to such particular application or request, no
additional certificate or opinion need be furnished.</P>
<P align=center>- 13 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every certificate or opinion with
respect to compliance with a covenant or condition provided for in this
Indenture (other than pursuant to Section 11.04) shall include:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>a statement that each individual signing such certificate
      or opinion has read such covenant or condition and the definitions herein
      relating thereto;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>a brief statement as to the nature and scope of the
      examination or investigation upon which the statements or opinions
      contained in such certificate or opinion are based;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>a statement that, in the opinion of each such individual,
      he has made such examination or investigation as is necessary to enable
      him to express an informed opinion as to whether or not such covenant or
      condition has been complied with; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>a statement as to whether, in the opinion of each such
      individual, such covenant or condition has been complied
  with.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
1.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Form
of Documents Delivered to Trustees</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any case where several matters
are required to be certified by, or covered by an opinion of, any specified
Person, it is not necessary that all such matters be certified by, or covered by
the opinion of, only one such Person, or that they be so certified or covered by
only one document, but one such Person may certify or give an opinion with
respect to some matters and one or more other such Persons may certify or give
an opinion as to other matters, and any such Person may certify or give an
opinion as to such matters in one or several documents.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any certificate or opinion of an
officer of the Company may be based, insofar as it relates to legal matters,
upon an Opinion of Counsel, a certificate of, or representations by, counsel,
unless such officer knows, or in the exercise of reasonable care should know,
that the certificate or opinion or representations with respect to the matters
upon which his certificate or opinion is based are erroneous. Any such
certificate or Opinion of Counsel may be based, insofar as it relates to factual
matters, upon a certificate or opinion of, or representations by, an officer or
officers of the Company stating that the information with respect to such
factual matters is in the possession of the Company, unless such counsel knows,
or in the exercise of reasonable care should know, that the certificate or
opinion or representations with respect to such matters are erroneous. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any certificate or opinion of an
officer of the Company or of counsel may be based, insofar as it relates to
accounting matters, upon a certificate or opinion of, or representations by, an
accountant or firm of accountants in the employ of the Company, unless such
officer or counsel, as the case may be, knows, or in the exercise of reasonable
care should know, that the certificate or opinion or representations with respect to the
accounting matters upon which such certificate or opinion may be based are
erroneous. Any certificate or opinion of any independent firm of public
accountants filed with the Trustees shall contain a statement that such firm is
independent.</P>
<P align=center>- 14 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where any Person is required to
make, give or execute two or more applications, requests, consents,
certificates, statements, opinions or other instruments under this Indenture,
they may, but need not, be consolidated and form one instrument.</P>
<P align=justify><STRONG>Section
1.04</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Acts of Holders</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of the
Outstanding Securities of all series or one or more series, as the case may be,
may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Holders in person or by agents duly appointed in
writing. If Securities of a series are issuable as Bearer Securities, any
request, demand, authorization, direction, notice, consent, waiver or other
action provided by this Indenture to be given or taken by Holders of such series
may, alternatively, be embodied in and evidenced by the record of Holders of
Securities of such series voting in favor thereof, either in person or by
proxies duly appointed in writing, at any meeting of Holders of Securities of
such series duly called and held in accordance with the provisions of Article
Sixteen, or a combination of such instruments and any such record. Except as
herein otherwise expressly provided, such action shall become effective when
such instrument or instruments or record or both are delivered to the Trustees
and, where it is hereby expressly required, to the Company. Such instrument or
instruments and any such record (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the &#147;Act&#148; of the Holders signing
such instrument or instruments or so voting at any such meeting. Proof of
execution of any such instrument or of a writing appointing any such agent, or
of the holding by any Person of a Security, shall be sufficient for any purpose
of this Indenture and conclusive in favor of the Trustees and the Company, if
made in the manner provided in this Section. The record of any meeting of
Holders of Securities shall be proved in the manner provided in Section
16.06.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
fact and date of the execution by any Person of any such instrument or writing
may be proved by the affidavit of a witness of such execution or by a
certificate of a notary public or other officer authorized by law to take
acknowledgments of deeds, certifying that the individual signing such instrument
or writing acknowledged to him the execution thereof. Where such execution is by
a signer acting in a capacity other than his individual capacity, such
certificate or affidavit shall also constitute sufficient proof of authority.
The fact and date of the execution of any such instrument or writing, or the
authority of the Person executing the same, may also be proved in any other
manner which the Trustees deem sufficient.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
principal amount and serial numbers of Registered Securities held by any Person,
and the date of holding the same, shall be proved by the Security Register.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
principal amount and serial numbers of Bearer Securities held by any Person, and
the date of holding the same, may be proved by the production of such Bearer
Securities or by a certificate executed, as depositary, by any trust company,
bank, banker or other depositary, wherever situated, if such certificate shall be
deemed by the Trustees to be satisfactory, showing that at the date therein
mentioned such Person had on deposit with such depositary, or exhibited to it,
the Bearer Securities therein described; or such facts may be proved by the
certificate or affidavit of the Person holding such Bearer Securities, if such
certificate or affidavit is deemed by the Trustees to be satisfactory. The
Trustees and the Company may assume that such ownership of any Bearer Security
continues until (1) another certificate or affidavit bearing a later date issued
in respect of the same Bearer Security is produced, or (2) such Bearer Security
is produced to the Trustees by some other Person, or (3) such Bearer Security is
surrendered in exchange for a Registered Security, or (4) such Bearer Security
is no longer Outstanding. The principal amount and serial numbers of Bearer
Securities held by any Person, and the date of holding the same, may also be
proved in any other manner that the Trustees deem sufficient.</P>
<P align=center>- 15 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company shall solicit from the Holders of Registered Securities any request,
demand, authorization, direction, notice, consent, waiver or other Act, the
Company may, at its option, by or pursuant to a Board Resolution, fix in advance
a record date for the determination of Holders entitled to give such request,
demand, authorization, direction, notice, consent, waiver or other Act, but the
Company shall have no obligation to do so. Notwithstanding Trust Indenture
Legislation, including TIA Section 316(c), such record date shall be the record
date specified in or pursuant to such Board Resolution, which shall be a date
not earlier than the date 30 days prior to the first solicitation of Holders
generally in connection therewith and not later than the date such solicitation
is completed. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other Act may be given
before or after such record date, but only the Holders of record at the close of
business on such record date shall be deemed to be Holders for the purposes of
determining whether Holders of the requisite proportion of Outstanding
Securities have authorized or agreed or consented to such request, demand,
authorization, direction, notice, consent, waiver or other Act, and for that
purpose the Outstanding Securities shall be computed as of such record date;
provided that no such authorization, agreement or consent by the Holders on such
record date shall be deemed effective unless it shall become effective pursuant
to the provisions of this Indenture not later than eleven months after the
record date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any request, demand, authorization, direction, notice, consent, waiver or other
Act of the Holder of any Security shall bind every future Holder of the same
Security and the Holder of every Security issued upon the registration of
transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done, omitted or suffered to be done by the Trustees or the Company in
reliance thereon, whether or not notation of such action is made upon such
Security.</P>
<P align=justify><STRONG>Section
1.05&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Notices,
etc. to Trustees and Company</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any request, demand,
authorization, direction, notice, consent, waiver or Act of Holders or other
documents provided or permitted by this Indenture to be made upon, given or
furnished to, or filed with,</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>the U.S. Trustee, by the Canadian Trustee, any Holder or
      by the Company shall be sufficient for every purpose hereunder if made,
      given, furnished or filed in writing to or with the U.S. Trustee at its Corporate Trust
  Office, Attention: &#149;, Facsimile No. &#149;, or</P></TD></TR></TABLE>
<P align=center>- 16 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>the Canadian Trustee, by the U.S. Trustee, any Holder or
      by the Company shall be sufficient for every purpose hereunder if made,
      given, furnished or filed in writing to or with the Canadian Trustee at
      its Corporate Trust Office, Attention: &#149;, Facsimile No. &#149;, or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>the Company, by either Trustee or any Holder shall be
      sufficient for every purpose hereunder (unless otherwise herein expressly
      provided) if in writing and faxed or mailed, first-class postage prepaid
      or personally delivered, to the Company, Attention: Chief Financial
      Officer, Facsimile No: &#149; or such other officer or facsimile number as the
      Company may designate on written notice to the Trustees, addressed to it
      at the address of its principal office specified in the first paragraph of
      this Indenture or at any other address previously furnished in writing to
      the Trustees by the Company.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
1.06&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Notice
to Holders; Waiver</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where this Indenture provides for
notice of any event to Holders of Registered Securities by the Company or the
Trustees, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to
each such Holder affected by such event, at his address as it appears in the
Security Register, not later than the latest date, and not earlier than the
earliest date, prescribed for the giving of such notice. In any case where
notice to Holders of Registered Securities is given by mail, neither the failure
to mail such notice, nor any defect in any notice so mailed, to any particular
Holder shall affect the sufficiency of such notice with respect to other Holders
of Registered Securities or the sufficiency of any notice to Holders of Bearer
Securities given as provided. Any notice mailed to a Holder in the manner herein
prescribed shall be conclusively deemed to have been received by such Holder,
whether or not such Holder actually receives such notice.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case, by reason of the
suspension of or irregularities in regular mail service or by reason of any
other cause, it shall be impractical to mail notice of any event to Holders of
Registered Securities when such notice is required to be given pursuant to any
provision of this Indenture, then any manner of giving such notice as shall be
satisfactory to the Trustees shall be deemed to be sufficient giving of such
notice for every purpose hereunder.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise expressly
provided herein or otherwise specified with respect to any Securities pursuant
to Section 3.01, where this Indenture provides for notice to Holders of Bearer
Securities of any event, such notice shall be sufficiently given to Holders of
Bearer Securities if published in an Authorized Newspaper in The City of New
York and in such other city or cities as may be specified in such Securities on
a Business Day at least twice, the first such publication to be not earlier than
the earliest date, and not later than the latest date, prescribed for the giving
of such notice. Any such notice shall be deemed to have been given on the date
of the first such publication.</P>
<P align=center>- 17 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case, by reason of the
suspension of publication of any Authorized Newspaper or Authorized Newspapers
or by reason of any other cause, it shall be impracticable to publish any notice
to Holders of Bearer Securities as provided above, then such notification to
Holders of Bearer Securities as shall be given with the approval of the Trustees
shall constitute sufficient notice to such Holders for every purpose hereunder.
Neither the failure to give notice by publication to Holders of Bearer
Securities as provided above, nor any defect in any notice so published, shall
affect the sufficiency of such notice with respect to other Holders of Bearer
Securities or the sufficiency of any notice to Holders of Registered Securities
given as provided herein.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any request, demand,
authorization, direction, notice, consent or waiver required or permitted under
this Indenture shall be in the English language, except that any published
notice may be in an official language of the country of publication.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where this Indenture provides for
notice in any manner, such notice may be waived in writing by the Person
entitled to receive such notice, either before or after the event, and such
waiver shall be the equivalent of such notice. Waivers of notice by Holders
shall be filed with the Trustees, but such filing shall not be a condition
precedent to the validity of any action taken in reliance upon such waiver.</P>
<P align=justify><STRONG>Section
1.07&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Effect
of Headings and Table of Contents</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Article and Section headings
herein and the Table of Contents are for convenience only and shall not affect
the construction hereof.</P>
<P align=justify><STRONG>Section
1.08&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Successors
and Assigns</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All covenants and agreements in
this Indenture by the Company and the Trustees shall bind their successors and
assigns, whether so expressed or not.</P>
<P align=justify><STRONG>Section
1.09</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Severability Clause</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case any provision in this
Indenture or in any Security or coupon shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby.</P>
<P align=justify><STRONG>Section
1.10</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Benefits of Indenture</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing in this Indenture or in
the Securities or coupons, express or implied, shall give to any Person, other
than the parties hereto, any Authenticating Agent, any Paying Agent, any
Securities Registrar and their successors hereunder and the Holders of
Securities or coupons, any benefit or any legal or equitable right, remedy or
claim under this Indenture. Subject to Section 1.16, at all times in relation to
this Indenture and any action to be taken hereunder, the Company and the
Trustees each shall observe and comply with Trust Indenture Legislation and the
Company, the Trustees and each Holder of a Security shall be entitled to the
benefits of Trust Indenture Legislation.</P>
<P align=center>- 18 -</P>
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<P align=justify><STRONG>Section
1.11&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Governing
Law</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indenture and the Securities
and coupons shall be governed by and construed in accordance with the law of the
State of New York, but without giving effect to applicable principles of
conflicts of law to the extent that the application of the law of another
jurisdiction would be required thereby. Each Trustee and the Company agrees to
comply with all provisions of Trust Indenture Legislation applicable to or
binding upon it in connection with this Indenture and any action to be taken
hereunder. This Indenture is subject to the provisions of the Trust Indenture
Act that are required to be part of this Indenture and shall, to the extent
applicable, be governed by such provisions. Notwithstanding the preceding
sentence, the exercise, performance or discharge by the Canadian Trustee of any
of its rights, powers, duties or responsibilities hereunder shall be construed
in accordance with the laws of the Province of British Columbia and the federal
laws of Canada applicable thereto.</P>
<P align=justify><STRONG>Section
1.12&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Legal
Holidays</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any case where any Interest
Payment Date, Redemption Date, sinking fund payment date or Stated Maturity or
Maturity of any Security shall not be a Business Day at any Place of Payment or
other location contemplated hereunder, then (notwithstanding any other provision
of this Indenture or of any Security or coupon other than a provision in the
Securities of any series which specifically states that such provision shall
apply in lieu of this Section), payment of principal (or premium, if any) or
interest, if any, need not be made at such Place of Payment or other location
contemplated hereunder on such date, but may be made on the next succeeding
Business Day at such Place of Payment or other location contemplated hereunder
with the same force and effect as if made on the Interest Payment Date or
Redemption Date or sinking fund payment date, or at the Stated Maturity or
Maturity; provided that no interest shall accrue for the period from and after
such Interest Payment Date, Redemption Date, sinking fund payment date, Stated
Maturity or Maturity, as the case may be.</P>
<P align=justify><STRONG>Section
1.13&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Agent
for Service; Submission to Jurisdiction; Waiver of Immunities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By the execution and delivery of
this Indenture, the Company (i) acknowledges that it has irrevocably designated
and appointed Corporation Service Company, Suite 400, 2711 Centerville Road,
Wilmington, Delaware, USA 19808 as its authorized agent upon which process may
be served in any suit or proceeding arising out of or relating to the Securities
or this Indenture that may be instituted in any federal or New York State court
located in The Borough of Manhattan, The City of New York, or brought by the
Trustees (whether in their individual capacity or in their capacity as Trustees
hereunder), (ii) submits to the non-exclusive jurisdiction of any such court in
any such suit or proceeding, and (iii) agrees that service of process upon
Corporation Service Company and written notice of said service to the Company
(mailed or delivered to the Company, attention: Chief Financial Officer, at its
principal office at Suite 300, 905 West Pender Street, Vancouver, British
Columbia, Canada V6C 1L6, as specified in Section 1.05 hereof), shall be deemed
in every respect effective service of process upon the Company in any such suit
or proceeding. The Company further agrees to take any and all action, including
the execution and filing of any and all such documents and instruments, as may
be necessary to continue such designation and appointment of Corporation Service
Company in full force and effect so long as this Indenture shall be in full
force and effect.</P>
<P align=center>- 19 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent that the Company
has or hereafter may acquire any immunity from jurisdiction of any court or from
any legal process (whether through service of notice, attachment prior to
judgment, attachment in aid of execution, execution or otherwise) with respect
to itself or its property, the Company hereby irrevocably waives such immunity
in respect of its obligations under this Indenture and the Securities, to the
extent permitted by law.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company irrevocably and
unconditionally waives, to the fullest extent permitted by law, any objection
that it may now or hereafter have to the laying of venue of any such action,
suit or proceeding arising out of or relating to this Indenture or the
Securities in any federal or state court in the State of New York, The Borough
of Manhattan. Each of the parties hereto hereby irrevocably waives, to the
fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court.</P>
<P align=justify><STRONG>Section
1.14&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Conversion
of Currency</STRONG></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company covenants and agrees that the following provisions shall apply to
conversion of currency in the case of the Securities and this Indenture:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>If for the purposes of obtaining judgment in, or
      enforcing the judgment of, any court in any country, it becomes necessary
      to convert into a currency (the &#147;Judgment Currency&#148;) an amount due or
      contingently due in any other currency under the Securities of any series
      and this Indenture (the &#147;Base Currency&#148;), then the conversion shall be
      made at the rate of exchange prevailing on the Business Day before the day
      on which a final judgment is given or the order of enforcement is made, as
      the case may be (unless a court shall otherwise determine).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>If there is a change in the rate of exchange prevailing
      between the Business Day before the day on which the judgment referred to
      in (i) above is given or an order of enforcement is made, as the case may
      be (or such other date as a court shall determine), and the date of
      receipt of the amount due, the Company shall pay such additional (or, as
      the case may be, such lesser) amount, if any, as may be necessary so that
      the amount paid in the Judgment Currency when converted at the rate of
      exchange prevailing on the date of receipt will produce the amount in the
      Base Currency originally due.</P></TD></TR></TABLE>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of the winding-up of the Company at any time while any amount or
damages owing under the Securities and this Indenture, or any judgment or order
rendered in respect thereof, shall remain outstanding, the Company shall
indemnify and hold the Holders and the Trustees harmless against any deficiency
arising or resulting from any variation in rates of exchange between (1) the
date as of which the equivalent of the amount in the Base Currency due or
contingently due under the Securities and this Indenture (other than under this
Subsection (b)) is calculated for the purposes of such winding-up, and (2) the
final date for the filing of proofs of claim in such winding-up. For the purpose
of this Subsection (b) the final date for the filing of proofs of claim in the
winding-up of the Company shall be the date fixed by the liquidator or otherwise
in accordance with the relevant provisions of applicable law as being the latest practicable date as at which liabilities of the Company
may be ascertained for such winding-up prior to payment by the liquidator or
otherwise in respect thereto.</P>
<P align=center>- 20 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The obligations contained in Subsections (a)(ii) and (b) of this Section shall
constitute separate and independent obligations of the Company from its other
obligations under the Securities and this Indenture, shall give rise to separate
and independent causes of action against the Company, shall apply irrespective
of any waiver or extension granted by any Holder or the Trustees or either of
them from time to time and shall continue in full force and effect
notwithstanding any judgment or order or the filing of any proof of claim in the
winding-up of the Company for a liquidated sum in respect of amounts due
hereunder (other than under Subsection (b) above) or under any such judgment or
order. Any such deficiency as aforesaid shall be deemed to constitute a loss
suffered by the Holders or the Trustees, as the case may be, and no proof or
evidence of any actual loss shall be required by the Company or its liquidator.
In the case of Subsection (b) above, the amount of such deficiency shall not be
deemed to be increased or reduced by any variation in rates of exchange
occurring between the said final date and the date of any liquidating
distribution.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The term &#147;rate(s) of exchange&#148;
shall mean the rate of exchange quoted by a Canadian chartered bank as may be
designated in writing by the Company to the Trustees from time to time, at its
central foreign exchange desk in its main office in [Toronto] at 12:00 noon
([Toronto] time) on the relevant date for purchases of the Base Currency with
the Judgment Currency and includes any premiums and costs of exchange payable.
The Trustees shall have no duty or liability with respect to monitoring or
enforcing this Section.</P>
<P align=justify><STRONG>Section
1.15&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Currency
Equivalent</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided in
this Indenture, for purposes of the construction of the terms of this Indenture
or of the Securities, in the event that any amount is stated herein in the
Currency of one nation (the &#147;First Currency&#148;), as of any date such amount shall
also be deemed to represent the amount in the Currency of any other relevant
nation (the &#147;Other Currency&#148;) which is required to purchase such amount in the
First Currency at the Bank of Canada noon rate as reported by Telerate on screen
3194 (or such other means of reporting the Bank of Canada noon rate as may be
agreed upon by each of the parties to this Indenture) on the date of
determination.</P>
<P align=justify><STRONG>Section
1.16&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Conflict with Trust
Indenture Legislation</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If and to the extent that any
provision of this Indenture limits, qualifies or conflicts with any mandatory
requirement of Trust Indenture Legislation, such mandatory requirement shall
control. If and to the extent that any provision hereof limits, qualifies or
conflicts with the duties imposed by any of Sections 310 to 318, inclusive, of
the Trust Indenture Act, through operation of Section 318(c) thereof, such
duties shall control.</P>
<P align=center>- 21 -</P>
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<P align=justify><STRONG>Section
1.17&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Incorporators,
Shareholders, Officers and Directors of the Company Exempt from Individual
Liability</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No recourse under or upon any
obligation, covenant or agreement contained in this Indenture, or in any
Security, or because of any indebtedness evidenced thereby, shall be had against
any incorporator, as such, or against any past, present or future shareholder,
officer or director, as such, of the Company or of any successor, either
directly or through the Company or any successor, under any rule of law, statute
or constitutional provision or by the enforcement of any assessment or by any
legal or equitable proceeding or otherwise, all such liability being expressly
waived and released by the acceptance of the Securities by the Holders and as
part of the consideration for the issue of the Securities.</P>
<P align=center>ARTICLE TWO <BR>SECURITIES FORMS</P>
<P align=justify><STRONG>Section
2.01</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Forms Generally</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registered Securities, if
any, of each series and the Bearer Securities, if any, of each series and
related coupons shall be in substantially the forms as shall be established by
or pursuant to a Board Resolution or in one or more indentures supplemental
hereto, in each case with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture, and may
have such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may be required to comply with the rules of any
securities exchange or as may, consistently herewith, be determined by the
officers executing such Securities or coupons, as evidenced by their execution
of the Securities or coupons. If the forms of Securities or coupons of any
series are established by action taken pursuant to a Board Resolution, a copy of
an appropriate record of such action shall be certified by the Corporate
Secretary or the Chief Financial Officer of the Company and delivered to the
Trustees at or prior to the delivery of the Company Order contemplated by
Section 3.03 for the authentication and delivery of such Securities or coupons.
Any portion of the text of any Security may be set forth on the reverse thereof,
with an appropriate reference thereto on the face of the Security.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified as
contemplated by Section 3.01, Bearer Securities shall have interest coupons
attached.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Either Trustee&#146;s certificate of
authentication on all Securities shall be in substantially the form set forth in
this Article.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The definitive Securities and
coupons shall be printed, lithographed or engraved on steel-engraved borders or
may be produced in any other manner, all as determined by the officers of the
Company executing such Securities, as evidenced by their execution of such
Securities or coupons.</P>
<P align=center>- 22 -</P>
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<P align=justify><STRONG>Section
2.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Form
of Trustee&#146;s Certificate of Authentication</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 7.12, either
Trustee&#146;s certificate of authentication shall be in substantially the following
form:</P>
<P align=center>TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION </P>
<P align=center>(Certificate of Authentication may be executed by either
Trustee) </P>
<P align=justify>Dated: ____________</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;, as U.S. Trustee, certifies
that this is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&#149;, </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">as U.S. Trustee </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By: __________________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Authorized Officer </TD></TR></TABLE>
<P align=justify>Dated: ____________</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;, as Canadian Trustee, certifies
that this is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&#149;, as Canadian Trustee </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By: __________________________________</TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp;Authorized Officer </TD></TR></TABLE>
<P align=justify><STRONG>Section
2.03</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Securities Issuable in Global Form</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Securities of or within a
series are issuable in global form, as specified and contemplated by Section
3.01, then, notwithstanding clause (10) of Section 3.01, any such Security shall
represent such of the Outstanding Securities of such series as shall be
specified therein and may provide that it shall represent the aggregate amount
of Outstanding Securities of such series from time to time endorsed thereon and
that the aggregate amount of Outstanding Securities of such series represented
thereby may from time to time be increased or decreased to reflect exchanges.
Any endorsement of a Security in global form to reflect the amount, or any
increase or decrease in the amount, of Outstanding Securities represented
thereby shall be made by the Trustees in such manner and upon instructions given
by such Person or Persons as shall be specified therein or in the Company Order
to be delivered to the Trustees pursuant to Section 3.03 or Section 3.04.
Subject to the provisions of Section 3.03 and, if applicable, Section 3.04, the
Trustees shall deliver and redeliver any Security in permanent global form in
the manner and upon instructions given by the Person or Persons specified
therein or in the applicable Company Order. If a Company Order pursuant to
Section 3.03 or Section 3.04 has been, or simultaneously is, delivered, any
instructions by the Company with respect to endorsement or delivery or
redelivery of a Security in global form shall be in writing but need not comply
with Section 1.02 and need not be accompanied by an Opinion of Counsel.</P>
<P align=center>- 23 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of the last
sentence of Section 3.03 shall apply to any Security represented by a Security
in global form if such Security was never issued and sold by the Company and the
Company delivers to the Trustees the Security in global form together with
written instructions (which need not comply with Section 1.02 and need not be
accompanied by an Opinion of Counsel) with regard to the reduction in the
principal amount of Securities represented thereby, together with the written
statement contemplated by the last sentence of Section 3.03.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of
Section 3.07, unless otherwise specified as contemplated by Section 3.01,
payment of principal of (and premium, if any) and interest, if any, on any
Security in permanent global form shall be made to the Person or Persons
specified therein.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of
Section 3.09 and except as provided in the preceding paragraph, the Company, the
Trustees and any agent of the Company and the Trustees shall treat as the Holder
of such principal amount of Outstanding Securities represented by a permanent
global Security (i) in the case of a permanent global Security in registered
form, the Holder of such permanent global Security in registered form, or (ii)
in the case of a permanent global Security in bearer form, the Depositary.</P>
<P align=center>ARTICLE THREE <br>
THE SECURITIES</P>
<P align=justify><STRONG>Section
3.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Amount
Unlimited; Issuable in Series</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The aggregate principal amount of
Securities which may be authenticated and delivered under this Indenture is
unlimited.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities may be issued in
one or more series and may be denominated and payable in Dollars or any Foreign
Currency. The principal amount of any series of Securities may be increased and
issued under this Indenture. There shall be established in one or more Board
Resolutions or pursuant to authority granted by one or more Board Resolutions
and, subject to Section 3.03, set forth in, or determined in the manner provided
in, an Officers&#146; Certificate, or established in one or more indentures
supplemental hereto, prior to the issuance of Securities of any series, any or
all of the following, as applicable (each of which (except for the matters set
forth in clauses (1), (2) and (19) below), if so provided, may be determined
from time to time by the Company with respect to unissued Securities of the
series and set forth in such Securities of the series when issued from time to
time):</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>the title of the Securities of the series (which shall
      distinguish the Securities of the series from all other series of
      Securities);</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>the aggregate principal amount of the Securities of the
      series that may be authenticated and delivered under this Indenture
      (except for Securities authenticated and delivered upon registration of
      transfer of, or in exchange for, or in lieu of, other Securities of the
      series pursuant to Section 3.04, Section 3.05, Section 3.06, Section
      10.06, Section 12.07 or Section 14.05);</P></TD></TR></TABLE>
<P align=center>- 24 -</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>the extent and manner, if any, to which payment on or in
      respect of the Securities of the series will be senior or will be
      subordinated to the prior payment of other liabilities and obligations of
      the Company, and whether the payment of principal, premium, if any, and
      interest, if any, will be guaranteed by any other Person and the nature
      and priority of any security;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>the percentage or percentages of principal amount at
      which the Securities of the series will be issued;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>the date or dates, or the method by which such date or
      dates will be determined or extended, on which the Securities of the
      series may be issued and the date, or dates, or the method by which such
      date or dates will be determined or extended, on which the principal of
      the Securities of the series is payable;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>the rate or rates at which the Securities of the series
      shall bear interest (whether fixed or variable), if any, or the method by
      which such rate or rates shall be determined, the date or dates from which
      such interest shall accrue, or the method by which such date or dates
      shall be determined, the Interest Payment Dates on which such interest
      shall be payable and the Regular Record Date, if any, for the interest
      payable on any Registered Security on any Interest Payment Date, or the
      method by which such date or dates shall be determined, and the basis upon
      which interest shall be calculated if other than on the basis of a 360-day
      year of 12 30-day months;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>the place or places, if any, other than or in addition to
      The Borough of Manhattan, The City of New York, where the principal of
      (and premium, if any) and interest, if any, on Securities of the series
      shall be payable, where any Registered Securities of the series may be
      surrendered for registration of transfer, where Securities of the series
      may be surrendered for exchange, where Securities of the series that are
      convertible or exchangeable may be surrendered for conversion or exchange,
      as applicable and, if different than the location specified in Section
      1.05, the place or places where notices or demands to or upon the Company
      in respect of the Securities of the series and this Indenture may be
      served;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>the period or periods within which, the price or prices
      at which, the Currency in which, and other terms and conditions upon which
      Securities of the series may be redeemed, in whole or in part, at the
      option of the Company, if the Company is to have that option;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(9) </TD>
    <TD>
      <P align=justify>the obligation, if any, of the Company to redeem, repay
      or purchase Securities of the series pursuant to any sinking fund or
      analogous provision or at the option of a Holder thereof, and the period
      or periods within which, the price or prices at which, the Currency in
      which, and other terms and conditions upon which Securities of the series
      shall be redeemed, repaid or purchased, in whole or in part, pursuant to
      such obligation;</P></TD></TR></TABLE>
<P align=center>- 25 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(10) </TD>
    <TD>
      <P align=justify>if other than denominations of $1,000 and any integral
      multiple thereof, the denomination or denominations in which any
      Registered Securities of the series shall be issuable and, if other than
      denominations of $5,000, the denomination or denominations in which any
      Bearer Securities of the series shall be issuable;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(11) </TD>
    <TD>
      <P align=justify>if other than the Trustees, the identity of each Security
      Registrar and/or Paying Agent, as satisfactory to the Trustees;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(12) </TD>
    <TD>
      <P align=justify>if other than the principal amount thereof, the portion
      of the principal amount of Securities of the series that shall be payable
      upon declaration of acceleration of the Maturity thereof pursuant to
      Section 6.02 or the method by which such portion shall be
    determined;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(13) </TD>
    <TD>
      <P align=justify>if other than Dollars, the Currency in which payment of
      the principal of (or premium, if any) or interest, if any, on the
      Securities of the series shall be payable or in which the Securities of
      the series shall be denominated and the particular provisions applicable
      thereto in accordance with, in addition to or in lieu of any of the
      provisions of Section 3.12;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(14) </TD>
    <TD>
      <P align=justify>whether the amount of payments of principal of (or
      premium, if any) or interest, if any, on the Securities of the series may
      be determined with reference to an index, formula or other method (which
      index, formula or method may be based, without limitation, on one or more
      Currencies, commodities, equity indices or other indices), and the manner
      in which such amounts shall be determined;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(15) </TD>
    <TD>
      <P align=justify>whether the principal of (or premium, if any) or
      interest, if any, on the Securities of the series are to be payable, at
      the election of the Company or a Holder thereof, in a Currency other than
      that in which such Securities are denominated or stated to be payable, the
      period or periods within which (including the Election Date), and the
      terms and conditions upon which, such election may be made, and the time
      and manner of determining the exchange rate between the Currency in which
      such Securities are denominated or stated to be payable and the Currency
      in which such Securities are to be so payable, in each case in accordance
      with, in addition to or in lieu of any of the provisions of Section
      3.12;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(16) </TD>
    <TD>
      <P align=justify>the designation of the initial Exchange Rate Agent, if
      any;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(17) </TD>
    <TD>
      <P align=justify>the applicability, if any, of Section 15.02 and/or
      Section 15.03 to the Securities of the series and any provisions in
      modification of, in addition to or in lieu of any of the provisions of
      Article Fifteen that shall be applicable to the Securities of the
      series;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(18) </TD>
    <TD>
      <P align=justify>provisions, if any, granting special rights to the
      Holders of Securities of the series upon the occurrence of such events as
      may be specified;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(19) </TD>
    <TD>
      <P align=justify>any deletions from, modifications of or additions to the
      Events of Default or covenants (including any deletions from,
      modifications of or additions to Section 11.08) of the Company with
      respect to Securities of the series, whether or
not such Events of Default or covenants are consistent with
  the Events of Default or covenants set forth herein;</P></TD></TR></TABLE>
<P align=center>- 26 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(20) </TD>
    <TD>
      <P align=justify>whether Securities of the series are to be issuable as
      Registered Securities, Bearer Securities (with or without coupons) or
      both, any restrictions applicable to the offer, sale or delivery of Bearer
      Securities, whether any Securities of the series are to be issuable
      initially in temporary global form and whether any Securities of the
      series are to be issuable in permanent global form with or without coupons
      and, if so, whether beneficial owners of interests in any such permanent
      global Security may exchange such interests for Securities of such series
      and of like tenor of any authorized form and denomination and the
      circumstances under which any such exchanges may occur, if other than in
      the manner provided in Section 3.05, whether Registered Securities of the
      series may be exchanged for Bearer Securities of the series (if permitted
      by applicable laws and regulations), whether Bearer Securities of the
      series may be exchanged for Registered Securities of such series, and the
      circumstances under which and the place or places where any such exchanges
      may be made and, if Securities of the series are to be issuable in global
      form, the identity of any initial depositary therefor;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(21) </TD>
    <TD>
      <P align=justify>the date as of which any Bearer Securities of the series
      and any temporary global Security representing Outstanding Securities of
      the series shall be dated if other than the date of original issuance of
      the first Security of the series to be issued;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(22) </TD>
    <TD>
      <P align=justify>the Person to whom any interest on any Registered
      Security of the series shall be payable, if other than the Person in whose
      name that Security (or one or more Predecessor Securities) is registered
      at the close of business on the Regular Record Date for such interest, the
      manner in which, or the Person to whom, any interest on any Bearer
      Security of the series shall be payable, if otherwise than upon
      presentation and surrender of the coupons appertaining thereto as they
      severally mature, and the extent to which, or the manner in which, any
      interest payable on a temporary global Security on an Interest Payment
      Date will be paid if other than in the manner provided in Section
    3.04;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(23) </TD>
    <TD>
      <P align=justify>if Securities of the series are to be issuable in
      definitive form (whether upon original issue or upon exchange of a
      temporary Security of such series) only upon receipt of certain
      certificates or other documents or satisfaction of other conditions, the
      form and/or terms of such certificates, documents or conditions;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(24) </TD>
    <TD>
      <P align=justify>if the Securities of the series are to be issued upon the
      exercise of warrants or subscription receipts, the time, manner and place
      for such Securities to be authenticated and delivered;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(25) </TD>
    <TD>
      <P align=justify>whether, under what circumstances and the Currency in
      which the Company will pay Additional Amounts as contemplated by Section
      11.05 on the Securities of the series to any Holder which is not a United
      States person (including any modification to the definition of such term)
      in respect of any tax, assessment or governmental charge and, if so,
      whether the Company will have the option to redeem such Securities rather than pay such Additional
      Amounts (and the terms of any such option);</P></TD></TR></TABLE>
<P align=center>- 27 -</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(26) </TD>
    <TD>
      <P align=justify>if the Securities of the series are to be convertible
      into or exchangeable for any securities of any Person (including the
      Company), the terms and conditions upon which such Securities will be so
      convertible or exchangeable;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(27) </TD>
    <TD>
      <P align=justify>the applicability, if any, of Section 11.05 and Section
      12.08 to such Securities;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(28) </TD>
    <TD>
      <P align=justify>if other than The Depositary Trust Company, the Person
      designated as the Depositary with respect to the Securities of such
      series;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(29) </TD>
    <TD>
      <P align=justify>provisions as to modification, amendment or variation of
      any rights or terms attaching to the Securities; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(30) </TD>
    <TD>
      <P align=justify>any other terms, conditions, rights and preferences (or
      limitations on such rights and preferences) relating to the series (which
      terms shall not be inconsistent with the requirements of Trust Indenture
      Legislation or the provisions of this Indenture).</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Securities of any one series
and the coupons appertaining to any Bearer Securities of such series shall be
substantially identical except, in the case of Registered Securities, as to
denomination and except as may otherwise be provided in or pursuant to such
Board Resolution (subject to Section 3.03) and set forth in such Officers&#146;
Certificate or in any such indenture supplemental hereto. Not all Securities of
any one series need be issued at the same time, and, unless otherwise provided,
a series may be reopened for issuances of additional Securities of such
series.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the terms of the series
are established by action taken pursuant to one or more Board Resolutions, such
Board Resolutions shall be delivered to the Trustees at or prior to the delivery
of the Officers&#146; Certificate setting forth the terms of the series.</P>
<P align=justify><STRONG>Section
3.02</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Denominations</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities of each series
shall be issuable in such denominations as shall be specified as contemplated by
Section 3.01. With respect to Securities of any series denominated in Dollars,
in the absence of any such provisions, the Registered Securities of such series,
other than Registered Securities issued in global form (which may be of any
denomination), shall be issuable in denominations of $1,000 and any integral
multiple thereof and the Bearer Securities of such series, other than the Bearer
Securities issued in global form (which may be of any denomination), shall be
issuable in a denomination of $5,000 and any integral multiples thereof.</P>
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<P align=justify><STRONG>Section
3.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Execution,
Authentication, Delivery and Dating</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities and any coupons
appertaining thereto shall be executed on behalf of the Company by its
President, Chief Executive Officer, Chief Financial Officer or Senior Vice
President Operations together with the Corporate Secretary of the Company. If
two or more persons share such office any one of such persons may. The signature
of any of these officers on the Securities or coupons may be the manual or
facsimile signatures of the present or any future such authorized officer and
may be imprinted or otherwise reproduced on the Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities or coupons bearing the
manual or facsimile signatures of individuals who were at any time the proper
officers of the Company shall bind the Company, notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the
authentication and delivery of such Securities or did not hold such offices at
the date of such Securities or coupons.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time and from time to time
after the execution and delivery of this Indenture, the Company may deliver
Securities of any series together with any coupon appertaining thereto, executed
by the Company to the applicable Trustee for authentication, together with a
Company Order for the authentication and delivery of such Securities, and the
applicable Trustee in accordance with such Company Order shall authenticate and
deliver such Securities; <U>provided</U>, <U>however</U>, that, in connection
with its original issuance, no Bearer Security shall be mailed or otherwise
delivered to any location in the United States; and <U>provided further
</U>that, unless otherwise specified with respect to any series of Securities
pursuant to Section 3.01, a Bearer Security may be delivered in connection with
its original issuance only if the Person entitled to receive such Bearer
Security shall have furnished a certificate in the form set forth in Exhibit A-1
to this Indenture, dated no earlier than 15 days prior to the earlier of the
date on which such Bearer Security is delivered and the date on which any
temporary Security first becomes exchangeable for such Bearer Security in
accordance with the terms of such temporary Security and this Indenture. If any
Security shall be represented by a permanent global Bearer Security, then, for
purposes of this Section and Section 3.04, the notation of a beneficial owner&#146;s
interest therein upon original issuance of such Security or upon exchange of a
portion of a temporary global Security shall be deemed to be delivery in
connection with its original issuance of such beneficial owner&#146;s interest in
such permanent global Security. Except as permitted by Section 3.06, the
Trustees shall not authenticate and deliver any Bearer Security unless all
appurtenant coupons for interest then matured have been detached and cancelled.
If not all the Securities of any series are to be issued at one time and if the
Board Resolution or supplemental indenture establishing such series shall so
permit, such Company Order may set forth procedures acceptable to the Trustees
for the issuance of such Securities and determining terms of particular
Securities of such series such as interest rate, stated maturity, date of
issuance and date from which interest shall accrue.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In authenticating such
Securities, and accepting the additional responsibilities under this Indenture
in relation to such Securities, the Trustees shall be entitled to receive, and
(subject to Trust Indenture Legislation and TIA Sections 315(a) through 315(d))
shall be fully protected in relying upon, an Opinion of Counsel stating:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that the form or forms of such Securities and any coupons have been established
in conformity with the provisions of this Indenture;</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that the terms of such Securities and any coupons have been established in
conformity with the provisions of this Indenture;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that such Securities, together with any coupons appertaining thereto, when
completed by appropriate insertions and executed and delivered by the Company to
the Trustees for authentication in accordance with this Indenture, authenticated
and delivered by the Trustees, or either of them, in accordance with this
Indenture and issued by the Company in the manner and subject to any conditions
specified in such Opinion of Counsel, will constitute the legal, valid and
binding obligations of the Company, enforceable in accordance with their terms,
subject to applicable bankruptcy, insolvency, reorganization and other similar
laws of general applicability relating to or affecting the enforcement of
creditors&#146; rights and to general equitable principles and to such other
qualifications as such counsel shall conclude do not materially affect the
rights of Holders of such Securities and any coupons;</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
all laws and requirements in respect of the execution and delivery by the
Company of such Securities, any coupons and of the supplemental indentures, if
any, have been complied with and that authentication and delivery of such
Securities and any coupons and the execution and delivery of the supplemental
indentures, if any, by the Trustees will not violate the terms of the
Indenture;</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
that the Company has the corporate power to issue such Securities and any
coupons, and has duly taken all necessary corporate action with respect to such
issuance; and</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
the issuance of such Securities and any coupons will not contravene the articles
of incorporation or continuance, or such other constating documents then in
effect, if any, or by-laws of the Company or result in any violation of any of
the terms or provisions of any law or regulation or of any indenture, mortgage
or other agreement known to such Counsel by which the Company is bound.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of
Section 3.01 and of the preceding two paragraphs, if not all the Securities of
any series are to be issued at one time, it shall not be necessary to deliver
the Officers&#146; Certificate otherwise required pursuant to Section 3.01 or the
Company Order and Opinion of Counsel otherwise required pursuant to the
preceding two paragraphs prior to or at the time of issuance of each Security,
but such documents shall be delivered prior to or at the time of issuance of the
first Security of such series.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees shall not be
required to authenticate and deliver any such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustees&#146; own rights,
duties or immunities under the Securities and this Indenture or otherwise in a
manner which is not reasonably acceptable to the Trustees.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Registered Security shall be
dated the date of its authentication and each Bearer Security shall be dated as
of the date specified as contemplated by Section 3.01.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Security or coupon shall
entitle a Holder to any benefit under this Indenture or be valid or obligatory
for any purpose unless there appears on such Security a certificate of
authentication substantially in the form provided for herein duly executed by
the U.S. Trustee or by the Canadian Trustee by manual signature of an authorized
officer, and such certificate upon any Security shall be conclusive evidence, and the only
evidence, that such Security has been duly authenticated and delivered hereunder
and is entitled to the benefits of this Indenture. Notwithstanding the
foregoing, if any Security shall have been authenticated and delivered hereunder
but never issued and sold by the Company, and the Company shall deliver such
Security to the Trustees for cancellation as provided in Section 3.10 together
with a written statement (which need not comply with Section 1.02 and need not
be accompanied by an Opinion of Counsel) stating that such Security has never
been issued and sold by the Company, for all purposes of this Indenture such
Security shall be deemed never to have been authenticated and delivered
hereunder and shall never entitle a Holder to the benefits of this
Indenture.</P>
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<P align=justify><STRONG>Section
3.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Temporary
Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pending the preparation of
definitive Securities of any series, the Company may execute, and upon Company
Order, the Trustees, or either of them, shall authenticate and deliver,
temporary Securities which are printed, lithographed, typewritten, mimeographed
or otherwise produced, in any authorized denomination, substantially of the
tenor of the definitive Securities in lieu of which they are issued, in
registered form or, if authorized, in bearer form with one or more coupons or
without coupons, and with such appropriate insertions, omissions, substitutions
and other variations as the officers executing such Securities may determine, as
conclusively evidenced by their execution of such Securities. Such temporary
Securities may be in global form.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except in the case of temporary
Securities in global form (which shall be exchanged in accordance with the
provisions of the following paragraphs), if temporary Securities of any series
are issued, the Company will cause definitive Securities of that series to be
prepared without unreasonable delay. After the preparation of definitive
Securities of such series, the temporary Securities of such series shall be
exchangeable for definitive Securities of such series upon surrender of the
temporary Securities of such series at the office or agency of the Company in a
Place of Payment for that series, without charge to the Holder. Notwithstanding
that procedure, Canadian Securities issued in temporary form must be returned to
the Canadian Trustee for cancellation. Upon surrender for cancellation of any
one or more temporary Securities of any series (accompanied by any unmatured
coupons appertaining thereto), the Company shall execute and either Trustee
shall authenticate and deliver in exchange therefor a like principal amount of
definitive Securities of the same series of authorized denominations;
<U>provided</U>, <U>however</U>, that no definitive Bearer Security shall be
delivered in exchange for a temporary Registered Security; and <U>provided
further </U>that a definitive Bearer Security shall be delivered in exchange for
a temporary Bearer Security only in compliance with the conditions set forth in
Section 3.03. Until so exchanged the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive
Securities of such series.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If temporary Securities of any
series are issued in global form, any such temporary global Security shall,
unless otherwise provided therein, be delivered to the office of a depositary or
common depositary (the &#147;Common Depositary&#148;) or the Depositary, as applicable,
for credit to the respective accounts of the beneficial owners of such
Securities (or to such other accounts as they may direct).</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without unnecessary delay but in
any event not later than the date specified in, or determined pursuant to the
terms of, any such temporary global Security (the &#147;Exchange Date&#148;), the Company
shall deliver to the Trustees definitive Securities, in aggregate principal
amount equal to the principal amount of such temporary global Security, executed
by the Company. On or after the Exchange Date such temporary global Security
shall be surrendered by the Common Depositary to the Trustees, as the Company&#146;s
agent for such purpose, to be exchanged, in whole or from time to time in part,
for definitive Securities without charge and either Trustee shall authenticate
and deliver, in exchange for each portion of such temporary global Security, an
equal aggregate principal amount of definitive Securities of the same series of
authorized denominations and of like tenor as the portion of such temporary
global Security to be exchanged. The definitive Securities to be delivered in
exchange for any such temporary global Security shall be in bearer form,
registered form, permanent global bearer form or permanent global registered
form, or any combination thereof, as specified as contemplated by Section 3.01,
and, if any combination thereof is so specified, as requested by the beneficial
owner thereof; <U>provided</U>, <U>however</U>, that, unless otherwise specified
in such temporary global Security, upon such presentation by the Common
Depositary, such temporary global Security is accompanied by a certificate dated
the Exchange Date or a subsequent date and signed by the Depositary as to the
portion of such temporary global Security held for its account then to be
exchanged and a certificate dated the Exchange Date or a subsequent date, each
in the form set forth in Exhibit A-2 to this Indenture (or in such other form as
may be established pursuant to Section 3.01); and <U>provided further </U>that
definitive Bearer Securities shall be delivered in exchange for a portion of a
temporary global Security only in compliance with the requirements of Section
3.03.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified in
such temporary global Security, the interest of a beneficial owner of Securities
of a series in a temporary global Security shall be exchanged for definitive
Securities of the same series and of like tenor following the Exchange Date when
the account holder instructs the Depositary to request such exchange on his
behalf and delivers to the Depositary a certificate in the form set forth in
Exhibit A-1 to this Indenture (or in such other form as may be established
pursuant to Section 3.01), dated no earlier than 15 days prior to the Exchange
Date, copies of which certificate shall be available from the offices of the
Depositary, the Trustees, any Authenticating Agent appointed for such series of
Securities and each Paying Agent. Unless otherwise specified in such temporary
global Security, any such exchange shall be made free of charge to the
beneficial owners of such temporary global Security, except that a Person
receiving definitive Securities must bear the cost of insurance, postage,
transportation and the like in the event that such Person does not take delivery
of such definitive Securities in person at the offices of the Depositary.
Definitive Securities in bearer form to be delivered in exchange for any portion
of a temporary global Security shall be delivered only outside the United
States.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until exchanged in full as
hereinabove provided, the temporary Securities of any series shall in all
respects be entitled to the same benefits under this Indenture as definitive
Securities of the same series and of like tenor authenticated and delivered
hereunder, except that, unless otherwise specified as contemplated by Section
3.01, interest payable on a temporary global Security on an Interest Payment
Date for Securities of such series occurring prior to the applicable Exchange
Date shall be payable to the Depositary on such Interest Payment Date upon
delivery by the Depositary to the Trustees of a certificate or certificates in
the form set forth in Exhibit A-2 to this Indenture (or in such other form as
may be established pursuant to Section 3.01), for credit without further interest thereon on or after
such Interest Payment Date to the respective accounts of the Persons who are the
beneficial owners of such temporary global Security on such Interest Payment
Date and who have each delivered to the Depositary a certificate dated no
earlier than 15 days prior to the Interest Payment Date occurring prior to such
Exchange Date in the form set forth in Exhibit A-1 to this Indenture (or in such
other form as may be established pursuant to Section 3.01) . Notwithstanding
anything to the contrary herein contained, the certifications made pursuant to
this paragraph shall satisfy the certification requirements of the preceding two
paragraphs of this Section and of the third paragraph of Section 3.03 of this
Indenture and the interests of the Persons who are the beneficial owners of the
temporary global Security with respect to which such certification was made will
be exchanged for definitive Securities of the same series and of like tenor on
the Exchange Date or the date of certification if such date occurs after the
Exchange Date, without further act or deed by such beneficial owners. Except as
otherwise provided in this paragraph, no payments of principal (or premium, if
any) or interest, if any, owing with respect to a beneficial interest in a
temporary global Security will be made unless and until such interest in such
temporary global Security shall have been exchanged for an interest in a
definitive Security. Any interest so received by the Depositary and not paid as
herein provided shall be returned to the Trustees immediately prior to the
expiration of two years after such Interest Payment Date in order to be repaid
to the Company in accordance with Section 11.03.</P>
<P align=center>- 32 -</P>
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<P align=justify><STRONG>Section
3.05</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Registration, Registration of Transfer and Exchange</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;So long as required by Trust
Indenture Legislation, the Company shall cause to be kept at the Corporate Trust
Offices of the Trustees a register for each series of Securities(the registers
maintained in the Corporate Trust Offices of the Trustees and in any other
office or agency of the Company in a Place of Payment being herein sometimes
collectively referred to as the &#147;Central Register&#148;) in which, subject to such
reasonable regulations as it may prescribe, the Company shall provide for the
registration of the Holders of Registered Securities and of transfers of
Registered Securities. The Central Register shall be in written form or any
other form capable of being converted into written form within a reasonable
time. At all reasonable times, the Central Register shall be open to inspection
by the Trustee. The Company will cause the particulars of each such issue,
exchange or transfer of Securities to be recorded in the Central Register. The
Company hereby appoints the Canadian Trustee as the Central Registrar and
Transfer Agent for the Canadian Securities and the U.S. Trustee as the Central
Registrar and Transfer Agent for the U.S. Securities (collectively, the &#147;Central
Securities Registrars&#148;). There shall be two such Central Registers, one for U.S.
Securities and one for Canadian Securities. If permitted by Trust Indenture
Legislation, the Company may appoint a Person other than the Company or a trust
corporation registered under the <I>Trust and Loan Companies Act</I>, S.C. 1991,
c. 45 as the Central Securities Registrar; provided that, no such removal or
replacement shall be effective until a successor Central Security Registrar with
respect to such series of Registered Securities shall have been appointed by the
Company and shall have accepted such appointment by the Company. In the event
that the Trustees shall not be or shall cease to be the Central Securities
Registrar with respect to a series of Securities, it shall have the right to
examine the Central Register for such series at all reasonable times. There
shall be only one Central Securities Register for such series of Securities.</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may, subject to the
consent of the Appropriate Trustee, also cause to be maintained a branch
register (a &#147;Branch Register&#148;) or Branch Registers of Holders of Securities in
accordance with Section 11.02 in the same manner and containing the same
information with respect to each entry contained therein as contained in the
Central Register. A copy of every entry in a Branch Register shall, promptly
after the entry is made, be transmitted to the Central Security Registrar. If
there is a conflict between the information contained in the Central Register
and the information contained in the Branch Register, the information contained
in the Central Register shall prevail. The Central Register together with each
Branch Register are collectively referred to herein as the &#147;Security Register&#148;.
At all reasonable times, the Security Register shall be open to inspection by
the Trustees. The Company may appoint from time to time one or more branch
security registrars (&#147;Branch Security Registrars&#148;) and may from time to time
rescind any such appointment. The Central Security Registrar together with each
Branch Security Registrar are collectively referred to herein as the &#147;Security
Registrar&#148;.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon surrender for registration
of transfer of any Registered Security of any series at the office or agency in
a Place of Payment for that series, the Company shall execute, and the
Appropriate Trustee shall authenticate and deliver, in the name of the
designated transferee, one or more new Registered Securities of the same series,
of any authorized denominations and of a like aggregate principal amount and
tenor.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Canadian Securities, the
Security must be duly endorsed for transfer or in a duly endorsed transferable
form as applicable and must comply with the current industry practice in
accordance with the Securities Transfer Association of Canada.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the option of the Holder,
Registered Securities of any series may be exchanged for other Registered
Securities of the same series, of any authorized denomination and of a like
aggregate principal amount, upon surrender of the Registered Securities to be
exchanged at such office or agency. Whenever any Registered Securities are so
surrendered for exchange, the Company shall execute, and the Appropriate Trustee
shall authenticate and deliver, the Registered Securities which the Holder
making the exchange is entitled to receive. Unless otherwise specified with
respect to any series of Securities as contemplated by Section 3.01, Bearer
Securities may not be issued in exchange for Registered Securities. The
Appropriate Trustee shall update the Register, or, if the Appropriate Trustee is
not the Authenticating Agent, the Appropriate Trustee shall immediately provide
a copy of the newly Authenticated Security to the Central Registrar so that the
Register may be updated.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If (but only if) expressly
permitted in or pursuant to the applicable Board Resolution and (subject to
Section 3.03) set forth in the applicable Officers&#146; Certificate, or in any
indenture supplemental hereto, delivered as contemplated by Section 3.01, at the
option of the Holder, Bearer Securities of any series may be exchanged for
Registered Securities of the same series of any authorized denomination and of a
like aggregate principal amount and tenor, upon surrender of the Bearer
Securities to be exchanged at the office of the Appropriate Trustee, with all
unmatured coupons and all matured coupons in default thereto appertaining. If
the Holder of a Bearer Security is unable to produce any such unmatured coupon
or coupons or matured coupon or coupons in default, any such permitted exchange
may be effected if the Bearer Securities are accompanied by payment in funds
acceptable to the Company in an amount equal to the face amount of such missing
coupon or coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the Trustees if there is
furnished to them such security or indemnity as they may require to save each of
them and any Paying Agent harmless. If thereafter the Holder of such Security
shall surrender to any Paying Agent any such missing coupon in respect of which
such a payment shall have been made, such Holder shall be entitled to receive
the amount of such payment; <u>provided</u>, <u>however</u>, that, except as
otherwise provided in Section 11.02, interest represented by coupons shall be
payable only upon presentation and surrender of those coupons at an office or
agency located outside the United States. Notwithstanding the foregoing, in case
a Bearer Security of any series is surrendered at any such office or agency in a
permitted exchange for a Registered Security of the same series and like tenor
after the close of business at such office or agency on (i) any Regular Record
Date and before the opening of business at such office or agency on the relevant
Interest Payment Date, or (ii) any Special Record Date and before the opening of
business at such office or agency on the related proposed date for payment of
Defaulted Interest, such Bearer Security shall be surrendered without the coupon
relating to such Interest Payment Date or proposed date for payment, as the case
may be, and interest or Defaulted Interest, as the case may be, will not be
payable on such Interest Payment Date or proposed date for payment, as the case
may be, in respect of the Registered Security issued in exchange for such Bearer
Security, but will be payable only to the Holder of such coupon when due in
accordance with the provisions of this Indenture.</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever any Securities are so
surrendered for exchange, the Company shall execute, and the Appropriate Trustee
shall authenticate and deliver, the Securities which the Holder making the
exchange is entitled to receive.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing,
except as otherwise specified as contemplated by Section 3.01, any permanent
global Security shall be exchangeable only as provided in this paragraph. If any
beneficial owner of an interest in a permanent global Security is entitled to
exchange such interest for Securities of such series and of like tenor and
principal amount of another authorized form and denomination, as contemplated by
Section 3.01 and provided that any applicable notice provided in the permanent
global Security shall have been given to the Company, the Appropriate Trustee
and the Common Depositary, then without unnecessary delay but in any event not
later than the earliest date on which such interest may be so exchanged, the
Company shall deliver to the Appropriate Trustee definitive Securities in
aggregate principal amount equal to the principal amount of such beneficial
owner&#146;s interest in such permanent global Security, executed by the Company. On
or after the earliest date on which such interests may be so exchanged, such
permanent global Security shall be surrendered by the Common Depositary or such
other depositary as shall be specified in the Company Order with respect thereto
to the Appropriate Trustee, as the Company&#146;s agent for such purpose, to be
exchanged in whole or from time to time in part, for definitive Securities
without charge, and the Appropriate Trustee shall authenticate and deliver, in
exchange for each portion of such permanent global Security, an equal aggregate
principal amount of definitive Securities of the same series of authorized
denominations and of like tenor as the portion of such permanent global Security
to be exchanged which, unless the Securities of the series are not issuable both
as Bearer Securities and as Registered Securities, as specified as contemplated
by Section 3.01, shall be in the form of Bearer Securities or Registered
Securities, or any combination thereof, as shall be specified by the beneficial
owner thereof. The Appropriate Trustee shall promptly provide to the Common
Depositary (or other applicable Depositary) a replacement global Security in the
aggregate principal amount of the global Security not being so exchanged.
The Appropriate Trustee shall note the exchange on the register for such
Securities. Notwithstanding the foregoing, no such exchanges may occur during a
period beginning at the opening of business 15 days before any selection of
Securities to be redeemed and ending on the relevant Redemption Date if the
Security for which exchange is requested may be among those selected for
redemption; and provided, further, that no Bearer Security delivered in exchange
for a portion of a permanent global Security shall be mailed or otherwise
delivered to any location in the United States. If a Registered Security is
issued in exchange for any portion of a permanent global Security after the
close of business at the office or agency where such exchange occurs on (i) any
Regular Record Date and before the opening of business at such office or agency
on the relevant Interest Payment Date, or (ii) any Special Record Date and
before the opening of business at such office or agency on the related proposed
date for payment of Defaulted Interest, interest or Defaulted Interest, as the
case may be, will not be payable on such Interest Payment Date or proposed date
for payment, as the case may be, in respect of such Registered Security, but
will be payable on such Interest Payment Date or proposed date for payment, as
the case may be, only to the Person to whom interest in respect of such portion
of such permanent global Security is payable in accordance with the provisions
of this Indenture.</P>
<P align=center>- 35 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transfers of global Securities
shall be limited to transfers in whole, but not in part, to the Depositary, its
successors or their respective nominees. If at any time the Depositary of a
series notifies the Company that it is unwilling, unable or no longer qualifies
to continue as Depositary of such series or if at any time the Depositary for
such series shall no longer be registered or in good standing under the Exchange
Act, or other applicable statute or regulation, the Company shall appoint a
successor depositary with respect to the Securities for such series. If a
successor to the Depositary is not appointed by the Company within 90 days after
the Company receives such notice or becomes aware of such condition, as the case
may be, the Company&#146;s election pursuant to Section 3.01 shall no longer be
effective with respect to the Securities for such series and the Company will
execute, and the Appropriate Trustee, upon receipt of a Company Order for the
authentication and delivery of definitive Securities of such series, will
authenticate and deliver Securities of such series in definitive, registered
form, in authorized denominations, and in an aggregate principal amount equal to
the principal amount of the global Security or Securities representing such
series in exchange for such global Security or Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may at any time and
in its sole discretion determine that the Securities of any series issued in the
form of one or more global Securities shall no longer be represented by such
global Security or Securities. In such event the Company will execute, and the
Appropriate Trustee, upon receipt of a Company Order for the authentication and
delivery of definitive Securities of such series, will authenticate and deliver
Securities of such series in definitive, registered form, in authorized
denominations, and in an aggregate principal amount equal to the principal
amount of the global Security or Securities representing such series in exchange
for such global Security or Securities.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interests of a beneficial owner
in global Securities may also be transferred or exchanged for definitive
Securities if, after the occurrence of an Event of Default with respect to such
Securities, and while such Event of Default is continuing, such owner notifies
the Trustees in writing that it wishes to receive a Security in definitive,
registered form and provides to the Trustees evidence reasonably satisfactory to
the Trustees of its ownership interest in such Securities. In such event the Company will execute, and the
Appropriate Trustee, upon receipt of a Company Order for the authentication and
delivery of definitive Securities of such series, will authenticate and deliver
Securities of such series in definitive, registered form, in authorized
denominations, and in an aggregate principal amount equal to the principal
amount of the global Security or Securities representing such series in exchange
for such global Security or Securities.</P>
<P align=center>- 36 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the exchange of a global
Security for Securities in definitive registered form, such global Security
shall be cancelled by the Appropriate Trustee. Securities issued in exchange for
a global Security pursuant to this Section shall be registered in such names and
in such authorized denominations as the Depositary for such global Security,
pursuant to instructions from its direct or indirect participants or otherwise,
shall instruct the Appropriate Trustee in writing. The Appropriate Trustee shall
deliver such Securities to the persons in whose names such Securities are so
registered.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Securities issued upon any
registration of transfer or exchange of Securities shall be the valid
obligations of the Company, evidencing the same debt, and entitled to the same
benefits under this Indenture, as the Securities surrendered upon such
registration of transfer or exchange.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every Registered Security
presented or surrendered for registration of transfer or for exchange shall (if
so required by the Company or the Security Registrar or applicable securities
transfer industry practices) be duly endorsed, or be accompanied by a written
instrument of transfer, in form satisfactory to the Company and the Security
Registrar, duly executed by the Holder thereof or his attorney duly authorized
in writing.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any registration of transfer or
exchange of Securities may be subject to service charges by the Central
Securities Registrar and the Company may require payment of a sum sufficient to
cover any tax or other governmental charge that may be imposed in connection
with any registration of transfer or exchange of Securities, other than
exchanges pursuant to Section 3.04, Section 10.06, Section 12.07 or Section
14.05 not involving any transfer.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall not be required
(i) to issue, register the transfer of or exchange Securities of any series in
definitive form during a period beginning at the opening of business 15 days
before the day of the selection for redemption of Securities of that series
under Section 12.03 or Section 13.03 and ending at the close of business on (A)
if Securities of the series are issuable only as Registered Securities, the day
of the mailing of the relevant notice of redemption and (B) if Securities of the
series are issuable as Bearer Securities, the day of the first publication of
the relevant notice of redemption or, (C) if Securities of the series are also
issuable as Registered Securities and there is no publication, the mailing of
the relevant notice of redemption, or (ii) to register the transfer of or
exchange any Registered Security in definitive form so selected for redemption
in whole or in part, except the unredeemed portion of any Security being
redeemed in part, or (iii) to exchange any Bearer Security so selected for
redemption except that such a Bearer Security may be exchanged for a Registered
Security of that series and like tenor; <U>provided </U>that such Registered
Security shall be simultaneously surrendered for redemption, or (iv) to issue,
register the transfer of or exchange any Security in definitive form which has
been surrendered for repayment at the option of the Holder, except the portion,
if any, of such Security not to be so repaid.</P>
<P align=center>- 37 -</P>
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<P align=justify><STRONG>Section
3.06&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Mutilated,
Destroyed, Lost and Stolen Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any mutilated Security or a
Security with a mutilated coupon appertaining to it is surrendered to either
Trustee, the Company shall execute and either Trustee shall authenticate and
deliver in exchange therefor a new Security of the same series and of like tenor
and principal amount and bearing a number not contemporaneously outstanding,
with coupons corresponding to the coupons, if any, appertaining to the
surrendered Security, or, in case any such mutilated Security or coupon has
become or is about to become due and payable, the Company in its discretion may,
instead of issuing a new Security, with coupons corresponding to the coupons, if
any, appertaining to the surrendered Security, pay such Security or coupon. If
there shall be delivered to the Company and to either Trustee (i) evidence to
their satisfaction of the destruction, loss or theft of any Security or coupon
and (ii) such security (or surety in the case of the Canadian Trustee) or
indemnity as may be required by them to save each of them and any agent of
either of them harmless, then, in the absence of notice to the Company or the
Trustees that such Security or coupon has been acquired by a protected purchaser
(as defined in Article 8 of the UCC), the Company shall execute and upon Company
Order either Trustee shall authenticate and deliver, in lieu of any such
destroyed, lost or stolen Security or in exchange for the Security for which a
destroyed, lost or stolen coupon appertains (with all appurtenant coupons not
destroyed, lost or stolen), a new Security of the same series and of like tenor
and principal amount and bearing a number not contemporaneously outstanding,
with coupons corresponding to the coupons, if any, appertaining to such
destroyed, lost or stolen Security or to the Security to which such destroyed,
lost or stolen coupon appertains.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of
the previous paragraph, in case any such mutilated, destroyed, lost or stolen
Security or coupon has become or is about to become due and payable, the Company
in its discretion may, instead of issuing a new Security, with coupons
corresponding to the coupons, if any, appertaining to such mutilated, destroyed,
lost or stolen Security or to the Security to which such mutilated, destroyed,
lost or stolen coupon appertains, pay such Security or coupon; <U>provided</U>,
<U>however</U>, that payment of principal of (and premium, if any) and interest,
if any, on Bearer Securities shall, except as otherwise provided in Section
11.02, be payable only at an office or agency located outside the United States
and, unless otherwise specified as contemplated by Section 3.01, any interest on
Bearer Securities shall be payable only upon presentation and surrender of the
coupons appertaining thereto.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the issuance of any new
Security under this Section, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other expenses (including the fees and expenses of the
Trustees) connected therewith.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every new Security of any series
with its coupons, if any, issued pursuant to this Section in lieu of any
mutilated, destroyed, lost or stolen Security or in exchange for a Security to
which a mutilated, destroyed, lost or stolen coupon appertains, shall constitute
an original additional contractual obligation of the Company, whether or not the
mutilated, destroyed, lost or stolen Security and its coupons, if any, or the
mutilated, destroyed, lost or stolen coupon shall be at any time enforceable by
anyone, and the Holders of such Security shall be entitled to all the benefits
of this Indenture equally and proportionately with the Holders of any and all
other Securities of that series and their coupons, if any, duly issued
hereunder.</P>
<P align=center>- 38 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Section as
amended or supplemented pursuant to this Indenture with respect to particular
securities or generally are exclusive and shall preclude (to the extent lawful)
all other rights and remedies with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Securities or coupons.</P>
<P align=justify><STRONG>Section
3.07&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Payment
of Principal; Premium; Interest; Interest Rights Preserved; Optional Interest
Reset</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise provided as
contemplated by Section 3.01 with respect to any series of Securities, principal
of, and premium, if any, and interest, if any, on any Registered Security which
is payable, and is punctually paid or duly provided for, on any Interest Payment
Date or other date in which the principal of, and premium, if any, is payable
shall be paid by the Paying Agent to the Person in whose name such Security (or
one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date for such principal, premium or interest, as the case may
be, at the office or agency of the Company maintained for such purpose pursuant
to Section 11.02; <U>provided</U>, <U>however</U>, that each installment of
principal of, and premium, if any, and interest, if any, on any Registered
Security may at the Company&#146;s option be paid by (i) mailing a check for such
interest, payable to or upon the written order of the Person entitled thereto
pursuant to Section 3.09, to the address of such Person as it appears on the
Security Register or (ii) transfer to an account located in the United States
maintained by the payee of a Holder of $2.0 million or more in aggregate
principal amount of such Securities (with wire transfer instructions provided to
the Trustee not less than 15 days prior to payment of interest by wire
transfer). The Paying Agent shall confirm in writing to the Canadian Trustee
upon payment having been made to Holders of Canadian Securities within five
days.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise provided as
contemplated by Section 3.01 with respect to the Securities of any series,
payment of interest, if any, may be made, in the case of a Bearer Security, by
transfer to an account located outside the United States maintained by the
payee.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise provided as
contemplated by Section 3.01, every permanent global Security will provide that
interest, if any, payable on any Interest Payment Date will be paid to the
Depositary with respect to that portion of such permanent global Security held
for its account by the Common Depositary, for the purpose of permitting the
Depositary to credit the interest, if any, received by it in respect of such
permanent global Security to the accounts of the beneficial owners thereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any interest on any Registered
Security of any series which is payable, but is not punctually paid or duly
provided for, on any Interest Payment Date shall forthwith cease to be payable
to the Holder on the relevant Regular Record Date by virtue of having been such
Holder, and such defaulted interest and, if applicable, interest on such
defaulted interest (to the extent lawful) at the rate specified in the
Securities of such series (such defaulted interest and, if applicable, interest
thereon herein collectively called &#147;Defaulted Interest&#148;) must be paid by the
Company as provided for in either clause (1) or (2), at the Company&#146;s
election:</P>
<p align=center>- 39 -</p>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>The Company may elect to make payment of any Defaulted
      Interest to the Persons in whose names the Registered Securities of such
      series (or their respective Predecessor Securities) are registered at the
      close of business on a Special Record Date for the payment of such Defaulted
      Interest, which shall be fixed in the following manner. The Company shall
      notify the Trustees in writing of the amount of Defaulted Interest
      proposed to be paid on each Registered Security of such series and the
      date of the proposed payment, and at the same time the Company shall
      deposit with either Trustee an amount of money in the Currency in which
      the Securities of such series are payable (except as otherwise specified
      pursuant to Section 3.01 for the Securities of such series and except, if
      applicable, as provided in Section 3.12(b), Section 3.12(d) and Section
      3.12(e)) equal to the aggregate amount proposed to be paid in respect of
      such Defaulted Interest or shall make arrangements satisfactory to the
      Trustees for such deposit on or prior to the date of the proposed payment,
      such money when deposited to be held in trust for the benefit of the
      Persons entitled to such Defaulted Interest as in this clause provided.
      Thereupon the Trustees shall fix a Special Record Date for the payment of
      such Defaulted Interest which shall be not more than 15 days and not less
      than 10 days prior to the date of the proposed payment and not less than
      10 days after the receipt by the Trustees of the notice of the proposed
      payment. The Trustees shall promptly notify the Company of such Special
      Record Date and, in the name and at the expense of the Company, shall
      cause notice of the proposed payment of such Defaulted Interest and the
      Special Record Date therefor to be given in the manner provided in Section
      1.06, not less than 10 days prior to such Special Record Date. Notice of
      the proposed payment of such Defaulted Interest and the Special Record
      Date therefor having been so given, such Defaulted Interest shall be paid
      to the Persons in whose name the Registered Securities of such series (or
      their respective Predecessor Securities) are registered at the close of
      business on such Special Record Date and shall no longer be payable
  pursuant to the following clause (2).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>The Company may make payment of any Defaulted Interest on
      the Registered Securities of any series in any other lawful manner not
      inconsistent with the requirements of any securities exchange on which
      such Securities may be listed, and, upon such notice as may be required by
      such exchange, if, after notice given by the Company to the Trustees of
      the proposed payment pursuant to this clause, such manner of payment shall
      be deemed practicable by the Trustees.</P></TD></TR></TABLE>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of this Subsection may be made applicable to any series of Securities
pursuant to Section 3.01 (with such modifications, additions or substitutions as
may be specified pursuant to such Section 3.01) . The interest rate (or the
spread or spread multiplier used to calculate such interest rate, if applicable)
on any Security of such series may be reset by the Company on the date or dates
specified on the face of such Security (each an &#147;Optional Reset Date&#148;). The
Company may exercise such option with respect to such Security by notifying the
Trustees of such exercise at least 50 but not more than 60 days prior to an
Optional Reset Date for such Security. Not later than 40 days prior to each
Optional Reset Date, the Trustees shall transmit, in the manner provided for in
Section 1.06, to the Holder of any such Security a notice (the &#147;Reset Notice&#148;)
indicating whether the Company has elected to reset the interest rate (or the
spread or spread multiplier used to calculate such interest rate, if
applicable), and if so (i) such new interest rate (or such new spread or spread
multiplier, if applicable) and (ii) the provisions, if any, for redemption
during the period from such Optional Reset Date to the next Optional Reset Date or if there is no such next Optional Reset Date, to the
Stated Maturity Date of such Security (each such period a &#147;Subsequent Interest
Period&#148;), including the date or dates on which or the period or periods during
which and the price or prices at which such redemption may occur during the
Subsequent Interest Period.</P>
<P align=center>- 40 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing,
not later than 20 days prior to the Optional Reset Date, the Company may, at its
option, revoke the interest rate (or the spread or spread multiplier used to
calculate such interest rate, if applicable) provided for in the Reset Notice
and establish an interest rate (or the spread or spread multiplier, if
applicable) that is higher than the interest rate (or the spread or spread
multiplier, if applicable) provided for in the Reset Notice, for the Subsequent
Interest Period by causing the Trustees to transmit, in the manner provided for
in Section 1.06, notice of such higher interest rate (or such higher spread or
spread multiplier, if applicable) to the Holder of such Security. Such notice
shall be irrevocable. All Securities with respect to which the interest rate (or
the spread or spread multiplier used to calculate such interest rate, if
applicable) is reset on an Optional Reset Date, and with respect to which the
Holders of such Securities have not tendered such Securities for repayment (or
have validly revoked any such tender) pursuant to the next succeeding paragraph,
will bear such higher interest rate (or such higher spread or spread multiplier,
if applicable).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Holder of any such Security
will have the option to elect repayment by the Company of the principal of such
Security on each Optional Reset Date at a price equal to the principal amount
thereof plus interest accrued to such Optional Reset Date. In order to obtain
repayment on an Optional Reset Date, the Holder must follow the procedures set
forth in Article Fourteen for repayment at the option of Holders except that the
period for delivery or notification to the Trustees shall be at least 25 but not
more than 35 days prior to such Optional Reset Date and except that, if the
Holder has tendered any Security for repayment pursuant to the Reset Notice, the
Holder may, by written notice to the Trustees, revoke such tender or repayment
until the close of business on the tenth day before such Optional Reset
Date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the foregoing
provisions of this Section and Section 3.05, each Security delivered under this
Indenture upon registration of transfer of or in exchange for or in lieu of any
other Security shall carry the rights to interest accrued and unpaid, and to
accrue, which were carried by such other Security.</P>
<P align=justify><STRONG>Section
3.08</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Optional Extension of Stated Maturity</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Section
3.08 may be made applicable to any series of Securities pursuant to Section 3.01
(with such modifications, additions or substitutions as may be specified
pursuant to such Section 3.01) . The Stated Maturity of any Security of such
series may be extended at the option of the Company for the period or periods
specified on the face of such Security (each an &#147;Extension Period&#148;) up to but
not beyond the date (the &#147;Final Maturity&#148;) set forth on the face of such
Security. The Company may exercise such option with respect to any Security by
notifying the Trustees of such exercise at least 50 but not more than 60 days
prior to the Stated Maturity of such Security in effect prior to the exercise of
such option (the &#147;Original Stated Maturity&#148;). If the Company exercises such
option, the Trustees shall transmit, in the manner provided for in Section 1.06,
to the Holder of such Security not later than 40 days prior to the Original
Stated Maturity a notice (the &#147;Extension Notice&#148;) indicating (i) the election of
the Company to extend the Stated Maturity, (ii) the new Stated
Maturity, (iii) the interest rate, if any, applicable to the Extension Period
and (iv) the provisions, if any, for redemption during such Extension Period.
Upon the Trustees&#146; transmittal of the Extension Notice, the Stated Maturity of
such Security shall be extended automatically and, except as modified by the
Extension Notice and as described in the next paragraph, such Security will have
the same terms as prior to the transmittal of such Extension Notice.</P>
<P align=center>- 41 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing,
not later than 20 days before the Original Stated Maturity of such Security, the
Company may, at its option, revoke the interest rate provided for in the
Extension Notice and establish a higher interest rate for the Extension Period
by causing the Trustees to transmit, in the manner provided for in Section 1.06,
notice of such higher interest rate to the Holder of such Security. Such notice
shall be irrevocable. All Securities with respect to which the Stated Maturity
is extended will bear such higher interest rate.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company extends the
Maturity of any Security, the Holder will have the option to elect repayment of
such Security by the Company on the original Stated Maturity at a price equal to
the principal amount thereof, plus interest accrued to such date. In order to
obtain repayment on the Original Stated Maturity once the Company has extended
the Maturity thereof, the Holder must follow the procedures set forth in Article
Fourteen for repayment at the option of Holders, except that the period for
delivery or notification to the Trustees shall be at least 25 but not more than
35 days prior to the Original Stated Maturity and except that, if the Holder has
tendered any Security for repayment pursuant to an Extension Notice, the Holder
may by written notice to the Trustees revoke such tender for repayment until the
close of business on the tenth day before the Original Stated Maturity.</P>
<P align=justify><STRONG>Section
3.09&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Persons
Deemed Owners</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to due presentment of a
Registered Security for registration of transfer, the Company, the Trustees and
any agent of the Company or the Trustees may treat the Person in whose name such
Registered Security is registered as the owner of such Registered Security for
the purpose of receiving payment of principal of (and premium, if any) and
(subject to Section 3.05 and Section 3.07) interest, if any, on such Security
and for all other purposes whatsoever (other than the payment of Additional
Amounts, if any), whether or not such Security be overdue, and none of the
Company, the Trustees or any agent of the Company or the Trustees shall be
affected by notice to the contrary.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title to any Bearer Security and
any coupons appertaining thereto shall pass by delivery. The Company, the
Trustees and any agent of the Company or the Trustees may treat the bearer of
any Bearer Security and the bearer of any coupon as the absolute owner of such
Security or coupon for the purpose of receiving payment thereof or on account
thereof and for all other purposes whatsoever, whether or not such Security or
coupons be overdue, and none of the Company, the Trustees or any agent of the
Company or the Trustees shall be affected by notice to the contrary.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Depositary for Securities may
be treated by the Company, the Trustee, and any agent of the Company or the
Trustee as the owner of such global Security for all purposes whatsoever (other
than the payment of Additional Amounts, if any). None of the Company, the
Trustees, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or
payments made on account of beneficial ownership interests of a Security in
global form or for maintaining, supervising or reviewing any records relating to
such beneficial ownership interests.</P>
<P align=center>- 42 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing,
with respect to any global Security, nothing herein shall prevent the Company,
the Trustees, or any agent of the Company or the Trustees, from giving effect to
any written certification, proxy or other authorization furnished by any
depositary, as a Holder, with respect to such global Security or impair, as
between such depositary and owners of beneficial interests in such global
Security, the operation of customary practices governing the exercise of the
rights of such depositary (or its nominee) as Holder of such global
Security.</P>
<P align=justify><STRONG>Section
3.10</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Cancellation</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All Securities and coupons
surrendered for payment, redemption, repayment at the option of the Holder,
registration of transfer or exchange or for credit against any current or future
sinking fund payment shall, if surrendered to any Person other than a Trustee,
be delivered to a Trustee. All securities and coupons so delivered to either
Trustee shall be promptly cancelled by it. The Company may at any time deliver
to either Trustee for cancellation any Securities previously authenticated and
delivered hereunder which the Company may have acquired in any manner
whatsoever, and may deliver to either Trustee (or to any other Person for
delivery to such Trustee) for cancellation any Securities previously
authenticated hereunder which the Company has not issued and sold, and all
Securities so delivered shall be promptly cancelled by such Trustee. If the
Company shall so acquire any of the Securities, however, such acquisition shall
not operate as a redemption or satisfaction of the indebtedness represented by
such Securities unless and until the same are surrendered to a Trustee for
cancellation. No Securities shall be authenticated in lieu of or in exchange for
any Securities cancelled as provided in this Section, except as expressly
permitted by this Indenture. All cancelled Securities held by a Trustee shall be
disposed of by such Trustee in accordance with its customary procedures and
certification of their disposal delivered to the Company unless by Company Order
the Company shall direct that cancelled Securities be returned to it.</P>
<P align=justify><STRONG>Section
3.11&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Computation
of Interest</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as
contemplated by Section 3.01 with respect to any Securities, interest, if any,
on the Securities of each series shall be computed on the basis of a 360-day
year of twelve 30-day months. For the purposes of disclosure under the
<I>Interest Act </I>(Canada), the yearly rate of interest to which interest
calculated under a Canadian Security for any period in any calendar year (the
&#147;calculation period&#148;) is equivalent, is the rate payable under a Canadian
Security in respect of the calculation period multiplied by a fraction the
numerator of which is the actual number of days in such calendar year and the
denominator of which is the actual number of days in the calculation period. If
the Canadian Trustee is appointed Paying Agent, it shall be entitled to rely on
the calculations to be provided by the Company.</P>
<P align=center>- 43 -</P>
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<P align=justify><STRONG>Section
3.12&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Currency
and Manner of Payments in Respect of Securities</STRONG></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to Registered Securities of any series not permitting the election
provided for in paragraph (b) below or the Holders of which have not made the
election provided for in paragraph (b) below, and with respect to Bearer
Securities of any series, except as provided in paragraph (d) below, payment of
the principal of (and premium, if any) and interest, if any, on any Registered
or Bearer Security of such series will be made in the Currency in which such
Registered Security or Bearer Security, as the case may be, is payable. The
provisions of this Section may be modified or superseded with respect to any
Securities pursuant to Section 3.01.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
may be provided pursuant to Section 3.01 with respect to Registered Securities
of any series that Holders shall have the option, subject to paragraphs (d) and
(e) below, to receive payments of principal of (or premium, if any) or interest,
if any, on such Registered Securities in any of the Currencies which may be
designated for such election by delivering to the Trustees a written election
with signature guarantees and in the applicable form established pursuant to
Section 3.01, not later than the close of business on the Election Date
immediately preceding the applicable payment date. If the Canadian Trustee or
the U.S. Trustee is appointed Paying Agent, the ability to receive payments of
principal of (or premium, if any) or interest, if any in the Currency designated
for election will be subject to the Canadian Trustee&#146;s or the U.S. Trustee&#146;s
ability, as Paying Agent, to accommodate payment in the Currency elected. If a
Holder so elects to receive such payments in any such Currency, such election
will remain in effect for such Holder or any transferee of such Holder until
changed by such Holder or such transferee by written notice to the Trustees (but
any such change must be made not later than the close of business on the
Election Date immediately preceding the next payment date to be effective for
the payment to be made on such payment date and no such change of election may
be made with respect to payments to be made on any Registered Security of such
series with respect to which an Event of Default has occurred or with respect to
which the Company has deposited funds pursuant to Articles Four or Fifteen or
with respect to which a notice of redemption has been given by the Company or a
notice of option to elect repayment has been sent by such Holder or such
transferee). Any Holder of any such Registered Security who shall not have
delivered any such election to the Trustees not later than the close of business
on the applicable Election Date will be paid the amount due on the applicable
payment date in the relevant Currency as provided in Section 3.12(a) . The
Trustees shall notify the Exchange Rate Agent as soon as practicable after the
Election Date of the aggregate principal amount of Registered Securities for
which Holders have made such written election.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specified pursuant to Section 3.01, if the election referred to in
paragraph (b) above has been provided for pursuant to Section 3.01, then, unless
otherwise specified pursuant to Section 3.01, not later than the fourth Business
Day after the Election Date for each payment date for Registered Securities of
any series, the Exchange Rate Agent will deliver to the Company a written notice
specifying, in the Currency in which Registered Securities of such series are
payable, the respective aggregate amounts of principal of (and premium, if any)
and interest, if any, on the Registered Securities to be paid on such payment
date, specifying the amounts in such Currency so payable in respect of the
Registered Securities as to which the Holders of Registered Securities of such
series shall have elected to be paid in another currency as provided in
paragraph (b) above. If the election referred to in paragraph (b) above has been provided for pursuant to Section 3.01 and if at
least one Holder has made such election, then, unless otherwise specified
pursuant to Section 3.01, on the seventh Business Day preceding such payment
date the Company will deliver to the Trustees for such series of Registered
Securities an Exchange Rate Officers&#146; Certificate in respect of the Dollar or
Foreign Currency payments to be made on such payment date. Unless otherwise
specified pursuant to Section 3.01, the Dollar or Foreign Currency amount
receivable by Holders of Registered Securities who have elected payment in a
Currency as provided in paragraph (b) above shall be determined by the Company
on the basis of the applicable Market Exchange Rate in effect on the eighth
Business Day (the &#147;Valuation Date&#148;) immediately preceding each payment date, and
such determination shall be conclusive and binding for all purposes, absent
manifest error.</P>
<P align=center>- 44 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Conversion Event occurs with respect to a Foreign Currency in which any of
the Securities are denominated or payable other than pursuant to an election
provided for pursuant to paragraph (b) above, then, with respect to each date
for the payment of principal of (and premium, if any) and interest, if any, on
the applicable Securities denominated or payable in such Foreign Currency
occurring after the last date on which such Foreign Currency was used (the
&#147;Conversion Date&#148;), the Dollar shall be the Currency of payment for use on each
such payment date. Unless otherwise specified pursuant to Section 3.01, the
Dollar amount to be paid by the Company to the Trustees and by the Trustees or
any Paying Agent to the Holders of such Securities with respect to such payment
date shall be, in the case of a Foreign Currency other than a currency unit, the
Dollar Equivalent of the Foreign Currency or, in the case of a currency unit,
the Dollar Equivalent of the Currency Unit, in each case as determined by the
Exchange Rate Agent in the manner provided in paragraph (f) or (g) below.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specified pursuant to Section 3.01, if the Holder of a Registered
Security denominated in any Currency shall have elected to be paid in another
Currency as provided in paragraph (b) above, and a Conversion Event occurs with
respect to such elected Currency, such Holder shall receive payment in the
Currency in which payment would have been made in the absence of such election;
and if a Conversion Event occurs with respect to the Currency in which payment
would have been made in the absence of such election, such Holder shall receive
payment in Dollars as provided in paragraph (d) above.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
&#147;Dollar Equivalent of the Foreign Currency&#148; shall be determined by the Exchange
Rate Agent and shall be obtained for each subsequent payment date by converting
the specified Foreign Currency into Dollars at the Market Exchange Rate on the
Conversion Date.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
&#147;Dollar Equivalent of the Currency Unit&#148; shall be determined by the Exchange
Rate Agent and subject to the provisions of paragraph (h) below shall be the sum
of each amount obtained by converting the Specified Amount of each Component
Currency into Dollars at the Market Exchange Rate for such Component Currency on
the Valuation Date with respect to each payment.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Section the following terms shall have the following
meanings:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &#147;Component Currency&#148; shall mean
any Currency which, on the Conversion Date, was a component currency of the
relevant currency unit, including, but not limited to, the Euro.</P>
<P align=center>- 45 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &#147;Specified Amount&#148; of a
Component Currency shall mean the number of units of such Component Currency or
fractions thereof which were represented in the relevant currency unit,
including, but not limited to, the Euro, on the Conversion Date. If after the
Conversion Date the official unit of any Component Currency is altered by way of
combination or subdivision, the Specified Amount of such Component Currency
shall be divided or multiplied in the same proportion. If after the Conversion
Date two or more Component Currencies are consolidated into a single currency,
the respective Specified Amounts of such Component Currencies shall be replaced
by an amount in such single Currency equal to the sum of the respective
Specified Amounts of such consolidated Component Currencies expressed in such
single Currency, and such amount shall thereafter be a Specified Amount and such
single Currency shall thereafter be a Component Currency. If after the
Conversion Date any Component Currency shall be divided into two or more
currencies, the Specified Amount of such Component Currency shall be replaced by
amounts of such two or more currencies, having an aggregate Dollar Equivalent
value at the Market Exchange Rate on the date of such replacement equal to the
Dollar Equivalent value of the Specified Amount of such former Component
Currency at the Market Exchange Rate immediately before such division and such
amounts shall thereafter be Specified Amounts and such currencies shall
thereafter be Component Currencies. If, after the Conversion Date of the
relevant currency unit, including, but not limited to, the Euro, a Conversion
Event (other than any event referred to above in this definition of &#147;Specified
Amount&#148;) occurs with respect to any Component Currency of such currency unit and
is continuing on the applicable Valuation Date, the Specified Amount of such
Component Currency shall, for purposes of calculating the Dollar Equivalent of
the Currency Unit, be converted into Dollars at the Market Exchange Rate in
effect on the Conversion Date of such Component Currency.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Election Date&#148; shall mean the
date for any series of Registered Securities as specified pursuant to clause
(15) of Section 3.01 by which the written election referred to in paragraph (b)
above may be made.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All decisions and determinations
of the Exchange Rate Agent regarding the Dollar Equivalent of the Foreign
Currency, the Dollar Equivalent of the Currency Unit, the Market Exchange Rate
and changes in the Specified Amounts as specified above shall be in its sole
discretion and shall, in the absence of manifest error, be conclusive for all
purposes and irrevocably binding upon the Company, the Trustees and all Holders
of such Securities denominated or payable in the relevant Currency. The Exchange
Rate Agent shall promptly give written notice to the Company and the Trustees of
any such decision or determination.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Company
determines in good faith that a Conversion Event has occurred with respect to a
Foreign Currency, the Company will immediately give written notice thereof to
the Trustees and to the Exchange Rate Agent (and the Trustees will promptly
thereafter give notice in the manner provided for in Section 1.06 to the
affected Holders) specifying the Conversion Date. In the event the Company so
determines that a Conversion Event has occurred with respect to the Euro or any
other currency unit in which Securities are denominated or payable, the Company
will immediately give written notice thereof to the Trustees and to the Exchange
Rate Agent (and the Trustees will promptly thereafter give notice in the manner
provided for in Section 1.06 to the affected Holders) specifying the Conversion
Date and the Specified Amount of each Component Currency on the Conversion Date.
In the event the Company determines in good faith that any subsequent change in
any Component Currency as set forth in the definition of Specified Amount
above has occurred, the Company will similarly give written notice to the
Trustees and the Exchange Rate Agent.</P>
<P align=center>- 46 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees shall be fully
justified and protected in relying and acting upon information received by it
from the Company and the Exchange Rate Agent and shall not otherwise have any
duty or obligation to determine the accuracy or validity of such information
independent of the Company or the Exchange Rate Agent.</P>
<P align=justify><STRONG>Section
3.13</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Appointment and Resignation of Successor Exchange Rate Agent</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified
pursuant to Section 3.01, if and so long as the Securities of any series (i) are
denominated in a Currency other than Dollars or (ii) may be payable in a
Currency other than Dollars, or so long as it is required under any other
provision of this Indenture, then the Company will maintain with respect to each
such series of Securities, or as so required, at least one Exchange Rate Agent.
The Company will cause the Exchange Rate Agent to make the necessary foreign
exchange determinations at the time and in the manner specified pursuant to
Section 3.01 for the purpose of determining the applicable rate of exchange and,
if applicable, for the purpose of converting the issued Currency into the
applicable payment Currency for the payment of principal (and premium, if any)
and interest, if any, pursuant to Section 3.12.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have the
right to remove and replace from time to time the Exchange Rate Agent for any
series of Securities. No resignation of the Exchange Rate Agent and no
appointment of a successor Exchange Rate Agent pursuant to this Section shall
become effective until the acceptance of appointment by the successor Exchange
Rate Agent as evidenced by a written instrument delivered to the Company and the
Trustees.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Exchange Rate Agent
shall resign, be removed or become incapable of acting, or if a vacancy shall
occur in the office of the Exchange Rate Agent for any cause with respect to the
Securities of one or more series, the Company, by or pursuant to a Board
Resolution, shall promptly appoint a successor Exchange Rate Agent or Exchange
Rate Agents with respect to the Securities of that or those series (it being
understood that any such successor Exchange Rate Agent may be appointed with
respect to the Securities of one or more or all of such series and that, unless
otherwise specified pursuant to Section 3.01, at any time there shall only be
one Exchange Rate Agent with respect to the Securities of any particular series
that are originally issued by the Company on the same date and that are
initially denominated and/or payable in the same Currency).</P>
<P align=center>ARTICLE FOUR <BR>SATISFACTION AND DISCHARGE</P>
<P align=justify><STRONG>Section
4.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Satisfaction
and Discharge of Indenture</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indenture shall upon Company
Request cease to be of further effect with respect to any series of Securities
specified in such Company Request (except as to any surviving rights of
registration of transfer or exchange of Securities of such series expressly
provided for herein or pursuant hereto and any right to receive Additional
Amounts as contemplated by Section 11.05) and the Trustees, at the expense of the Company, shall execute
proper instruments acknowledging satisfaction and discharge of this Indenture as
to such series when</P>
<P align=center>- 47 -</P>
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<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;either</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all Securities of such series theretofore authenticated and delivered and all
coupons, if any, appertaining thereto (other than (i) coupons appertaining to
Bearer Securities surrendered for exchange for Registered Securities and
maturing after such exchange, whose surrender is not required or has been waived
as provided in Section 3.05, (ii) Securities and coupons of such series which
have been destroyed, lost or stolen and which have been replaced or paid as
provided in Section 3.06, (iii) coupons appertaining to Securities called for
redemption and maturing after the relevant Redemption Date, whose surrender has
been waived as provided in Section 12.06, and (iv) Securities and coupons of
such series for whose payment money has theretofore been deposited in trust with
either Trustee or any Paying Agent or segregated and held in trust by the
Company and thereafter repaid to the Company, as provided in Section 11.03) have
been delivered to either Trustee for cancellation; or</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all Securities of such series and, in the case of (i) or (ii) below, any coupons
appertaining thereto not theretofore delivered to either Trustee for
cancellation</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>have become due and payable, or</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>will become due and payable at their Stated Maturity
      within one year, or</P></TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%">&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>if redeemable at the option of the Company, are to be
      called for redemption within one year under arrangements satisfactory to
      the Trustees for the giving of notice of redemption by the Trustees in the
      name, and at the expense, of the Company,</P></TD></TR></TABLE>
<P align=justify>and the Company, in the case of (i), (ii) or (iii) above, has
irrevocably deposited or caused to be deposited with either Trustee as trust
funds in trust for such purpose an amount in the Currency in which the
Securities of such series are payable, sufficient to pay and discharge the
entire indebtedness on such Securities not theretofore delivered to such Trustee
for cancellation, for principal (and premium, if any), interest, if any, and
Additional Amounts, if any, to the date of such deposit (in the case of
Securities which have become due and payable) or to the Stated Maturity or
Redemption Date, as the case may be;</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>the Company has paid or caused to be paid all other sums
      payable hereunder by the Company; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>the Company has delivered to the Trustees an Officers&#146;
      Certificate and an Opinion of Counsel, each stating that all conditions
      precedent herein provided for relating to the satisfaction and discharge
      of this Indenture as to such series have been complied
  with.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the satisfaction
and discharge of this Indenture, the obligations of the Company to the Trustees
under Section 7.07, the obligations of the Trustees to any Authenticating Agent
under Section 7.12 and, if money shall have been deposited with the Trustees pursuant to subclause (b) of clause (1) of this
Section, the obligations of the Trustees under Section 4.02 and the last
paragraph of Section 11.03 shall survive.</P>
<P align=center>- 48 -</P>
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<P align=justify><STRONG>Section
4.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Application
of Trust Money</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of the
last paragraph of Section 11.03, all money deposited with the Trustees pursuant
to Section 4.01 shall be held in trust and applied by it, in accordance with the
provisions of the Securities, the coupons and this Indenture, to the payment,
either directly or through any Paying Agent (including the Company acting as its
own Paying Agent) as the Trustees may determine, to the Persons entitled
thereto, of the principal (and premium, if any) and interest, if any, for whose
payment such money has been deposited with the Trustees; but such money need not
be segregated from other funds except to the extent required by law.</P>
<P align=center>&nbsp;ARTICLE FIVE <BR>SUBORDINATION OF THE SECURITIES</P>
<P align=justify><STRONG>Section
5.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Agreement
to Subordinate</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants and agrees,
and each Holder of Securities, by its acceptance thereof, likewise agrees, that
the payment of the principal of, premium, if any, and interest on the Securities
is hereby expressly subordinated, to the extent and in the manner hereinafter
set forth, in right of payment to the prior payment in full of all Senior
Indebtedness.</P>
<P align=justify><STRONG>Section
5.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Distribution
on Insolvency or Winding-Up</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of any Senior
Default or in the event that proceedings are commenced by or against the Company
as a result of its insolvency or in the event of the liquidation or winding-up
of the Company or if proceedings are commenced which effect a reorganization,
arrangement, or compromise of debt of the Company:</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
holders of all Senior Indebtedness shall be entitled to receive payment in full
of the principal thereof, the premium, if any, and the interest due thereon
(including interest accruing after the commencement of any such proceeding at
the rate specified in the instrument or agreement evidencing the Senior
Indebtedness, whether or not such interest is an allowable claim in any such
proceeding) before the Holders are entitled to receive any payment upon the
principal of, premium, if any, and interest on indebtedness evidenced by the
Securities;</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
payment or distribution of assets of the Company of any kind or character,
whether in cash, property or securities, to which the Holders or the Trustees
would be entitled except for the provisions of this Article 5 shall be paid by
the Person making such payment or distribution, whether the liquidator, agent or
other agent or a trustee in bankruptcy or a receiver or otherwise, directly to
the holders of Senior Indebtedness or their representative or to the trustee
under any indenture under which any instruments evidencing any of such Senior
Indebtedness may have been issued, as their respective interests may appear, to
the extent necessary to pay in full all Senior Indebtedness remaining unpaid
after giving effect to any concurrent payment or distribution to the holders of
such Senior Indebtedness in respect thereof;</P>
<P align=center>- 49 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
in the event that, notwithstanding the foregoing, any payment or distribution of
assets of the Company of any kind or character, whether in cash, property or
securities, shall be received by the Trustees or the Holders before all Senior
Indebtedness is paid in full, such payment or distribution shall be held in
trust for the benefit of, and shall be paid over to, the holders of such Senior
Indebtedness or their representative or to the trustee under any indenture under
which any instruments evidencing any of such Senior Indebtedness may have been
issued, as their respective interests may appear, for application to the payment
of all Senior Indebtedness remaining unpaid until all such Senior Indebtedness
shall have been paid in full after giving effect to any concurrent payment or
distribution to the holders of such Senior Indebtedness in respect thereof;
and</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
payments or distributions paid over to the holders of Senior Indebtedness
pursuant to Section 5.02(c) and not applied in reduction of the amounts owing to
the Holders hereunder shall be deemed not to have discharged any of the
obligations of the Company hereunder (and, to the extent that by operation of
applicable law they are treated as doing so, the Company covenants to indemnify
the Holders on demand from and against any loss suffered or incurred by them in
consequence thereof).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any payment or distribution
of assets of the Company referred to in this Article 5, the Trustees and the
Holders shall be entitled to call for and rely upon a certificate, addressed to
the Trustees or to the Holders, of the Person making any such payment or
distribution for the purpose of ascertaining the Persons entitled to participate
in such distribution, the holders of the Senior Indebtedness and other
indebtedness of the Company, the amount thereof or payable thereon, the amount
or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article 5.</P>
<P align=justify><STRONG>Section
5.03</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Subrogation of the Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the payment in full of
all Senior Indebtedness, the Holders shall be subrogated to the rights of the
holders of Senior Indebtedness to receive payments and distributions of assets
of the Company in respect of and on account of Senior Indebtedness, to the
extent of the application thereto of moneys or other assets which would have
been received by the Holders but for the provisions of this Article 5, until the
principal of, premium, if any, and interest on the Securities shall be paid in
full. No payment or distribution of assets of the Company to the Holders which
would be payable or distributable to the holders of Senior Indebtedness pursuant
to this Article shall, as between the Company, its creditors (other than the
holders of Senior Indebtedness) and the Holders, be deemed to be a payment by
the Company to or on account of the Holders, it being understood that the
provisions of this Article 5 are, and are intended, solely for the purpose of
defining the relative rights of the Holders, on the one hand, and the holders of
the Senior Indebtedness, on the other hand. Nothing contained in this Article 5
or elsewhere in this Indenture or in the Securities is intended to or shall
impair, as between the Company and its creditors (other than the holders of
Senior Indebtedness and the Holders), the obligation of the Company, which is
unconditional and absolute, to pay to the Holders the principal of, premium, if
any, and interest on the Securities as and when the same shall become due and
payable in accordance with their terms, or to affect the relative rights of the
Holders and creditors of the Company other than the holders of the Senior
Indebtedness, nor shall anything herein or therein prevent the Trustees or the
Holder of any Securities from exercising all remedies otherwise permitted by applicable law upon default under this Indenture,
subject to the rights, if any, under this Article 5, of the holders of Senior
Indebtedness upon the exercise of any such remedy.</P>
<P align=center>- 50 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify><STRONG>Section
5.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>No
Payment to Holders if Senior Indebtedness Due or in Default or Commencement of
Proceedings</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the maturity of any Senior Indebtedness by lapse of time, acceleration or
otherwise, then, except as hereinafter otherwise provided, all principal of,
premium, if any, and interest on all such matured Senior Indebtedness shall
first be paid in full, or shall first have been duly provided for, before any
payment on account of principal of, premium, if any, and interest on the
Securities is made.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon the occurrence of any Senior Default, then, unless and until such default
shall have been cured or waived or shall have ceased to exist, no payment (by
payment of principal or interest, purchase of Securities, redemption or
otherwise) shall be made by the Company with respect to the principal of,
premium, if any, or interest on the Securities. In the event that,
notwithstanding the foregoing, the Company shall make any payment of principal
of, premium, if any, or interest on the Securities after the happening of such a
default, then, except as hereinafter otherwise provided, unless and until such
default shall have been cured or waived or shall have ceased to exist, such
payments shall be held in trust for the benefit of, and if and when such Senior
Indebtedness shall have become due and payable shall be paid over to, the
holders of the Senior Indebtedness or their representative or to the trustee
under any indenture under which any instruments evidencing any of the Senior
Indebtedness may have been issued, as their respective interests may appear, for
application to the payment of all Senior Indebtedness remaining unpaid until all
such Senior Indebtedness shall have been paid in full, after giving effect to
any concurrent payment or distribution to the holders of such Senior
Indebtedness in respect thereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The fact that any payment which is required to be made pursuant to this
Indenture or the Securities is prohibited by this Section 5.04 shall not prevent
the failure to make such payment from being an Event of Default hereunder.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company shall not grant and the Trustees and the Holders shall not be
entitled to receive any mortgage, charge, hypothec, assignment, pledge or other
security interest against any of the property, assets or undertaking of the
Company or any of its Subsidiaries or Affiliates without the prior written
consent of the holders of the Senior Indebtedness (other than trade
creditors).</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon any default by the Company under this Indenture, the occurrence of any
Event of Default or any Senior Default, neither the Trustees nor any Holder
shall be entitled to take or commence any action, suit, remedy or proceedings
(whether judicial or extra-judicial and including, without limitation, any
action contemplated by Article 6) against the Company or any of its property,
assets or undertaking to collect or enforce payment of the principal and
interest on the Securities or any other amounts owing under this Indenture or to
enforce the performance of any other covenant or obligation of the Company under
this Indenture or the Securities (including, without limitation, any action or
proceeding for the payment of any principal of or interest on the Securities,
the appointment of a liquidator or receiver of the Company or any of its property, assets or undertaking for the winding up of the
Company) unless and until the Senior Indebtedness has been paid in full;
provided however that the foregoing shall in no way prohibit, restrict or
prevent the Trustees from filing proofs of claim in any bankruptcy,
reorganization or insolvency proceedings commenced by or against the Company by
any Person other than the Trustees or a Holder or taking steps in accordance
with any subordination or postponement agreement entered into by the Trustees on
their own behalf or on behalf of the Holders as contemplated by Section
5.10.</P>
<P align=center>- 51 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify><STRONG>Section
5.05&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Payment
of Securities Permitted</STRONG></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
always to Section 5.10, nothing contained in this Indenture or in any of the
Securities shall prevent the Company at any time from making payments of the
principal of, premium, if any on, or interest on the Securities provided that no
such payments will be made if a Senior Default has occurred unless and until
such default has been cured or waived or has ceased to exist.</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
written notice shall be given to the Trustees by the Company or on behalf of any
holder of any Senior Indebtedness of the occurrence of any Senior Default or of
the existence of any other facts which would have the result that any payment
with respect to the Securities would be in contravention of the provisions of
this Article 5, the Trustees shall be entitled to assume that no such default
has occurred, or that no such facts exist; and nothing in this Indenture shall
prevent the Trustees, prior to receipt of such notice, from applying any moneys
received by it pursuant to this Indenture prior to the receipt by it of such
written notice, to the purposes for which the same were received,
notwithstanding the occurrence or continuance of a default with respect to, or
the existence of such facts with respect to, such Senior Indebtedness.</P>
<P align=justify><STRONG>Section
5.06</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Subordination Not to be Impaired</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No right of any present or future
holder of any Senior Indebtedness of the Company to enforce the subordination
provided for in this Article shall at any time be prejudiced or impaired by any
act or failure to act on the part of the Company or by any act or failure to
act, in good faith, by any such holder, or by any non-compliance by the Company
with the terms, provisions and covenants of this Indenture, regardless of any
knowledge thereof which any such holder may have or be otherwise charged
with.</P>
<P align=justify><STRONG>Section
5.07&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Obligations
Created by Article 5</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and the
Trustees agrees, and each Holder of Securities, by its acceptance thereof,
likewise agrees, that:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the provisions of this Article 5 are an inducement and consideration to each
holder of Senior Indebtedness to give or continue credit to the Company or
others or to acquire Senior Indebtedness;</P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
holder of Senior Indebtedness may accept the benefit of this Article 5 on the
terms and conditions set forth in this Article 5 by giving or continuing credit
to the Company or others or by acquiring Senior Indebtedness, in each case
without notice to the Trustees or any Holder and without establishing actual
reliance on this Article 5; and</P>
<P align=center>- 52 -</P>
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<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
obligation created by this Article 5 is created for the benefit of the holders
of Senior Indebtedness and is hereby declared to be created in trust for those
holders by the Company, the Trustees and each Holder of Securities and shall be
binding on the Company, the Trustees and each Holder of Securities whether or
not the confirmation described in Section 5.10 is requested, executed or
delivered.</P>
<P align=justify><STRONG>Section
5.08&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>No
Set-Off</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and the
Trustees agrees, and each Holder of Securities, by its acceptance thereof,
likewise agrees, that it shall have no rights of set-off or counterclaim with
respect to the principal of, premium, if any, and interest on the Securities at
any time when any payment of, or in respect of, such amounts to the Trustees or
the Holders is prohibited by this Article 5 or is otherwise required to be paid
to the holders of Senior Indebtedness or their representative or to the trustee
under any indenture under which any instruments evidencing any of such Senior
Indebtedness may have been issued, as their respective interests may appear.</P>
<P align=justify><STRONG>Section
5.09&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Amendments
to Article 5</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and the
Trustees agrees, and each Holder of Securities, by its acceptance thereof,
likewise agrees, not to make any changes to (i) this Article 5, (ii) the
definitions of Senior Indebtedness or Senior Default, or (iii) any other
provision of this Indenture that makes reference to this Article 5 or any
provision of this Article 5, without the consent of each holder of Senior
Indebtedness (other than trade creditors), or their representative or the
trustee under any indenture under which any instruments evidencing any of such
Senior Indebtedness may have been issued.</P>
<P align=justify><STRONG>Section
5.10</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Authorization to Trustees to Effect Subordination</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Holder of Securities, by its
acceptance thereof, authorizes and directs the Trustees on its behalf to take
such action as may be necessary or appropriate to effect the subordination
provided for in this Article 5 and to acknowledge and confirm such subordination
to any holder of Senior Indebtedness and appoints the Trustees its
attorney-in-fact for any and all such purposes, including confirmations that the
holder or holders of any Senior Indebtedness are entitled to all the rights and
benefits of this Article 5 and that such holder of Senior Indebtedness may rely
on and enforce each of the terms of this Indenture including, without
limitation, of this Article 5. Forthwith upon the request of any holder of
Senior Indebtedness or its representative or the trustee under any indenture
under which any instruments evidencing any Senior Indebtedness may have been
issued, the Trustees shall execute and deliver to the Person making that request
a form of such confirmation or, with the advice of Counsel, any such
subordination agreement, on its own behalf and on behalf of all Holders.</P>
<P align=center>- 53 -</P>
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<P align=center>ARTICLE SIX <BR>REMEDIES</P>
<P align=justify><STRONG>Section
6.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Events
of Default</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Event of Default&#148;, wherever used
herein with respect to Securities of any series, means any one of the following
events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any
judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body), unless such event is specifically deleted
or modified in or pursuant to a supplemental indenture, Board Resolution or
Officers&#146; Certificate establishing the terms of such series pursuant to Section
3.01 of this Indenture:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>default in the payment of any interest (including
      Additional Amounts) due on any Security of that series, or any related
      coupon (including Additional Amounts), when such interest or coupon
      becomes due and payable, and continuance of such default for a period of
      30 days; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>default in the payment of the principal (or premium, if
      any), or any Additional Amounts in respect of any Security of that series
      at its Maturity; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>default in the deposit of any sinking fund or analogous
      payment when due by the terms of any Security of that series and Article
      Thirteen; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>default in the performance, or breach, of any covenant or
      agreement of the Company in this Indenture which affects or is applicable
      to the Securities of that series, and continuance of such default or
      breach for a period of 90 days after there has been given, by registered
      or certified mail, to the Company by the Trustees or to the Company and
      the Trustees by the Holders of at least 25% in principal amount of all
      Outstanding Securities of that series a written notice specifying such
      default or breach and requiring it to be remedied and stating that such
      notice is a &#147;Notice of Default&#148; hereunder; or</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>if an event of default (as defined in any indenture or
      instrument under which the Company or any Subsidiary has at the time of
      this Indenture or shall thereafter have outstanding any indebtedness)
      shall have occurred and be continuing, or the Company or any Subsidiary
      shall have failed to pay principal amounts with respect to such
      indebtedness at maturity and such event of default or failure to pay shall
      have resulted in indebtedness under such indentures or instruments being
      declared due, payable or otherwise being accelerated, in either event so
      that an amount in excess of the greater of $15,000,000 and 2% of
      Shareholders&#146; Equity shall be or become due, payable and accelerated upon
      such declaration or prior to the date on which the same would otherwise
      have become due, payable and accelerated (the &#147;accelerated indebtedness&#148;),
      and such acceleration shall not be rescinded or annulled, or such event of
      default or failure to pay under such indenture or instrument shall not be
      remedied or cured, whether by payment or otherwise, or waived by the
      holders of such accelerated indebtedness, then</P></TD></TR></TABLE>
<P align=center>- 54 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_61></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="10%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the accelerated indebtedness shall be as a result of an
      event of default which is not related to the failure to pay principal or
      interest on the terms, at the times, and on the conditions set out in any
      such indenture or instrument, it shall not be considered an Event of
      Default for purposes of this Indenture until 30 days after such
      indebtedness has been accelerated, or</P></TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>if the accelerated indebtedness shall occur as a result
      of such failure to pay principal or interest or as a result of an event of
      default which is related to the failure to pay principal or interest on
      the terms, at the times, and on the conditions set out in any such
      indenture or instrument, then (i) if such accelerated indebtedness is, by
      its terms, Non-Recourse Debt to the Company or a Subsidiary, it shall not
      be considered an Event of Default for purposes of this Indenture; or (ii)
      if such accelerated indebtedness is recourse to the Company or a
      Subsidiary, any requirement in connection with such failure to pay or
      event of default for the giving of notice or the lapse of time or the
      happening of any further condition, event or act under such other
      indenture or instrument in connection with such failure to pay or event of
      default shall be applicable together with an additional seven days before
      being considered an Event of Default for purposes of this Indenture;
    or</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>the entry of a decree or order by a court having
      jurisdiction in the premises adjudging the Company bankrupt or insolvent,
      or approving as properly filed a petition seeking reorganization,
      arrangement, adjustment or composition of or in respect of the Company
      under or subject to the U.S. <I>Federal Bankruptcy Code </I>or any other
      federal, provincial, state or foreign bankruptcy, insolvency or analogous
      laws, or the issuance of a sequestration order or the (appointment of a
      receiver, liquidator, assignee, trustee, sequestrator (or other similar
      official) of the Company or in receipt of any substantial part of the
      property of the Company, and any such decree, order or appointment
      continues unstayed and in effect for a period of 90 consecutive days;
      or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>the institution by the Company of proceedings to be
      adjudicated bankrupt or insolvent, or the consent by it to the institution
      of bankruptcy or insolvency proceedings against it, or the filing by it of
      a petition or answer or consent seeking reorganization or relief under or
      subject to the <I>U.S. Federal Bankruptcy Code </I>or any other federal,
      provincial, state or foreign bankruptcy, insolvency or analogous laws or
      the consent by it to the filing of any such petition or to the appointment
      of a receiver, liquidator, assignee, trustee, sequestrator (or other
      similar official) of the Company or of any substantial part of its
      property, or the making by it of a general assignment for the benefit of
      creditors, or the admission by it in writing of its inability to pay its
      debts generally as they become due or the taking by it of corporate action
      in furtherance of any of the aforesaid purposes; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>any other Event of Default provided with respect to
      Securities of that series.</P></TD></TR></TABLE>
<P align=center>- 55 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<!--$$/page=--><A name=page_62></A>
<P align=justify><STRONG>Section
6.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Acceleration
of Maturity; Rescission and Annulment</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an Event of Default described
in clause (1), (2), (3), (4), (5), or (8) of Section 6.01 with respect to
Securities of any series at the time Outstanding occurs and is continuing, then
in every such case, either Trustee or the Holders of not less than 25% in
principal amount of the Outstanding Securities of that series, may declare the
principal amount (or, if the Securities of that series are Original Issue
Discount Securities or Indexed Securities, such portion of the principal amount
as may be specified in the terms of that series) of all of the Securities of
that series and all interest thereon to be due and payable immediately, by a
notice in writing to the Company (and to the Trustees if given by Holders), and
upon any such declaration such principal amount (or specified portion thereof)
shall become immediately due and payable. If an Event of Default specified in
Section 6.01(6) or 6.01(7) occurs and is continuing, then the principal amount
of all the Securities shall ipso facto become and be immediately due and payable
without any declaration or other act on the part of the Trustees or any
Holder.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time after such a
declaration of acceleration with respect to Securities of any series (or of all
series, as the case may be) has been made and before a judgment or decree for
payment of the money due has been obtained by either Trustee as hereinafter
provided in this Article, the Holders of a majority in principal amount of the
Outstanding Securities of that series (or of all series, as the case may be), by
written notice to the Company and the Trustees, may rescind and annul such
declaration and its consequences if</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD colSpan=2>
      <P align=justify>the Company has paid or deposited with either Trustee a
      sum sufficient to pay in the Currency in which the Securities of such
      series are payable (except as otherwise specified pursuant to Section 3.01
      for the Securities of such series and except, if applicable, as provided
      in Sections 3.12(b), 3.12(d) and 3.12(e)),</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>all overdue interest, if any, on all Outstanding
      Securities of that series (or of all series, as the case may be) and any
      related coupons,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>all unpaid principal of (and premium, if any, on) any
      Outstanding Securities of that series (or of all series, as the case may
      be) which has become due otherwise than by such declaration of
      acceleration, and interest on such unpaid principal (and premium, if any)
      at the rate or rates prescribed therefor in such Securities,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(c) </TD>
    <TD>
      <P align=justify>to the extent that payment of such interest is legally
      enforceable, interest on overdue interest at the rate or rates prescribed
      therefor in such Securities, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(d) </TD>
    <TD>
      <P align=justify>all sums paid or advanced by the Trustees hereunder and
      the reasonable compensation, expenses, disbursements and advances of the
      Trustees, their agents and counsel; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD colSpan=2>
      <P align=justify>all Events of Default with respect to Securities of that
      series (or of all series, as the case may be), other than the non-payment
      of amounts of principal of (or premium, if any, on) or interest on
      Securities of that series (or of all series, as
the case may be) which have become due
solely by such declaration of acceleration, have been cured or waived as
provided in Section 6.13.</P></TD></TR></TABLE>
<P align=center>- 56 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No such rescission shall affect
any subsequent default or impair any right consequent thereon.</P>
<P align=justify><STRONG>Section
6.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Collection
of Debt and Suits for Enforcement by Trustees</STRONG></P>
<P style="MARGIN-LEFT: 5%" align=justify>The Company covenants that if</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>default is made in the payment of any installment of
      interest on any Security and any related coupon when such interest becomes
      due and payable and such default continues for a period of 30 days,
    or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>default is made in the payment of the principal of (or
      premium, if any, on) any Security at the Maturity
  thereof,</P></TD></TR></TABLE>
<P align=justify>then the Company will, upon demand of either Trustee, pay to
the Appropriate Trustee for the benefit of the Holders of such Securities and
coupons, the whole amount then due and payable on such Securities and coupons
for principal (and premium, if any) and interest, if any, and interest on any
overdue principal (and premium, if any) and on any overdue interest, at the rate
or rates prescribed therefor in such Securities, and, in addition thereto, such
further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustees, their agents and counsel.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company fails to pay such
amounts forthwith upon such demand, each of the Trustees, in its own name as
trustee of an express trust, may institute a judicial proceeding for the
collection of the sums so due and unpaid, may prosecute such proceeding to
judgment or final decree and may enforce the same against the Company or any
other obligor upon such Securities and collect the moneys adjudged or decreed to
be payable in the manner provided by law out of the property of the Company or
any other obligor upon such Securities, wherever situated.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an Event of Default with
respect to Securities of any series (or of all series, as the case may be)
occurs and is continuing, either Trustee may in its discretion proceed to
protect and enforce its rights and the rights of the Holders of Securities of
such series (or of all series, as the case may be) by such appropriate judicial
proceedings as such Trustee shall deem most effectual to protect and enforce any
such rights, whether for the specific enforcement of any covenant or agreement
in this Indenture or in aid of the exercise of any power granted herein, or to
enforce any other proper remedy.</P>
<P align=justify><STRONG>Section
6.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Trustees
May File Proofs of Claim</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case of the pendency of any
receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other judicial proceeding relative to the Company or
any other obligor upon the Securities or the property of the Company or of such
other obligor or their creditors, each Trustee (irrespective of whether the
principal of the Securities shall then be due and payable as therein expressed
or by declaration or otherwise and irrespective of whether either Trustee shall have made any
demand on the Company for the payment of overdue principal, premium, if any, or
interest) shall be entitled and empowered, by intervention in such proceeding or
otherwise,</P>
<P align=center>- 57 -</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>to file and prove a claim for the whole amount of
      principal (and premium, if any), or such portion of the principal amount
      of any series of Original Issue Discount Securities or Indexed Securities
      as may be specified in the terms of such series, and interest, if any,
      owing and unpaid in respect of the Securities and to file such other
      papers or documents as may be necessary or advisable in order to have the
      claims of such Trustee (including any claim for the reasonable
      compensation, expenses, disbursements and advances of such Trustee, its
      agents and counsel) and of the Holders allowed in such judicial
      proceeding, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>to collect and receive any moneys or other property
      payable or deliverable on any such claims and to distribute the
    same;</P></TD></TR></TABLE>
<P align=justify>and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Holder to make such payments to such Trustee and, in the
event that such Trustee shall consent to the making of such payments directly to
the Holders, to pay to such Trustee any amount due to it for the reasonable
compensation, expenses, disbursements and advances of each Trustee, its agents
and counsel, and any other amounts due to such Trustee under Section 7.07.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing herein contained shall be
deemed to authorize the Trustees to authorize or consent to or accept or adopt
on behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder thereof or to
authorize the Trustees to vote in respect of the claim of any Holder in any such
proceeding.</P>
<P align=justify><STRONG>Section
6.05&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Trustees
May Enforce Claims Without Possession of Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All rights of action and claims
under this Indenture or the Securities or coupons may be prosecuted and enforced
by the Trustees without the possession of any of the Securities or coupons or
the production thereof in any proceeding relating thereto, and any such
proceeding instituted by a Trustee shall be brought in its own name as trustee
of an express trust, and any recovery of judgment shall, after provision for the
payment of the reasonable compensation, expenses, disbursements and advances of
such Trustee, its agents and counsel, be for the ratable benefit of the Holders
of the Securities and coupons in respect of which such judgment has been
recovered.</P>
<P align=justify><STRONG>Section
6.06&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Application
of Money Collected</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any money collected by a Trustee
pursuant to this Article shall be applied in the following order, at the date or
dates fixed by the Trustees and, in case of the distribution of such money on
account or principal (or premium, if any) or interest, if any, upon presentation
of the Securities or coupons, or both, as the case may be, and the notation
thereon of the payment if only partially paid and upon surrender thereof if
fully paid:</P>
<P align=center>- 58 -</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >First: </TD>
    <TD align=left width="90%">to the payment of all amounts due the Trustees
      under Section 7.07; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left>Second: </TD>
    <TD align=left width="90%" >to the payment of the amounts
      then due and unpaid for principal of (and premium, if any) and interest,
      if any, on the Securities and coupons in respect of which or for the
      benefit of which such money has been collected, ratably, without
      preference or priority of any kind, according to the amounts due and
      payable on such Securities and coupons for principal (and premium, if any)
      and interest, if any, respectively; and </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >Third: </TD>
    <TD align=left width="90%">the balance, if any, to the Person or Persons
      entitled thereto. </TD></TR></TABLE>
<P align=justify><STRONG>Section
6.07</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Limitation on Suits</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No Holder of any Security of any
series or any related coupons shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of
a receiver or trustee, or for any other remedy hereunder, unless</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>such Holder has previously given written notice to the
      Trustees of a continuing Event of Default with respect to the Securities
      of that series;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>the Holders of not less than 25% in principal amount of
      the Outstanding Securities of that series in the case of any Event of
      Default described in clause (1), (2), (3), (4), (5), or (8) of Section
      6.01, or, in the case of any Event of Default described in clause (6) or
      (7) of Section 6.01, the Holders of not less than 25% in principal amount
      of all Outstanding Securities, shall have made written request to the
      Trustees to institute proceedings in respect of such Event of Default in
      their own names as Trustees hereunder;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>such Holder or Holders have offered to the Trustees
      reasonable indemnity against the costs, expenses and liabilities to be
      incurred in compliance with such request;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>the Trustees for 60 days after their receipt of such
      notice, request and offer of indemnity have failed to institute any such
      proceeding; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>no direction inconsistent with such written request has
      been given to the Trustees during such 60-day period by the Holders of a
      majority or more in principal amount of the Outstanding Securities of that
      series in the case of any Event of Default described in clause (1), (2),
      (3), (4), (5), or (8) of Section 6.01, or in the case of any Event of
      Default described in clause (6) or (7) of Section 6.01, by the Holders of
      a majority or more in principal amount of all Outstanding
    Securities;</P></TD></TR></TABLE>
<P align=justify>it being understood and intended that no one or more of such
Holders shall have any right in any manner whatever by virtue of, or by availing
of, any provision of this Indenture to affect, disturb or prejudice the rights
of any other Holders of Securities of the same series, in the case of any Event
of Default described in clause (1), (2), (3), (4), (5) or (8) of Section 6.01,
or of Holders of all Securities in the case of any Event of Default described in
clause (6) or (7) of Section 6.01, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable
benefit of all Holders of Securities of the same series, in the
case of any Event of Default described in clause (1), (2), (3), (4), (5) or (8)
of Section 6.01, or of Holders of all Securities in the case of any Event of
Default described in clause (6) or (7) of Section 6.01.</P>
<P align=center>- 59 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify><STRONG>Section
6.08&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Unconditional
Right of Holders to Receive Principal, Premium and Interest</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other
provision in this Indenture, the Holder of any Security shall have the right,
which is absolute and unconditional, to receive payment, as provided herein
(including, if applicable, Article Fourteen) and in such Security, of the
principal of (and premium, if any) and (subject to Section 3.07) interest, if
any, on, such Security or payment of such coupon on the respective Stated
Maturities expressed in such Security or coupon (or, in the case of redemption,
on the Redemption Date) and subject to the limitations on a Holder&#146;s ability to
institute suit contained Section 6.07, to institute suit for the enforcement of
any such payment, and such rights shall not be impaired without the consent of
such Holder.</P>
<P align=justify><STRONG>Section
6.09&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Restoration
of Rights and Remedies</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If either Trustee or any Holder
has instituted any proceeding to enforce any right or remedy under this
Indenture and such proceeding has been discontinued or abandoned for any reason,
or has been determined adversely to such Trustee or to such Holder, then and in
every such case, subject to any determination in such proceeding, the Company,
the Trustees and the Holders of Securities and coupons shall be restored
severally and respectively to their former positions hereunder and thereafter
all rights and remedies of the Trustees and the Holders shall continue as though
no such proceeding had been instituted.</P>
<P align=justify><STRONG>Section
6.10&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Rights
and Remedies Cumulative</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided with
respect to the replacement or payment of mutilated, destroyed, lost or stolen
Securities or coupons in the last paragraph of Section 3.06, no right or remedy
herein conferred upon or reserved to the Trustees or to the Holders of
Securities or coupons is intended to be exclusive of any other right or remedy,
and every right and remedy shall, to the extent permitted by law, be cumulative
and in addition to every other right and remedy given hereunder or now or
hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.</P>
<P align=justify><STRONG>Section
6.11&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Delay
or Omission Not Waiver</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No delay or omission of the
Trustees or of any Holder of any Security or coupon to exercise any right or
remedy accruing upon any Event of Default shall impair any such right or remedy
or constitute a waiver of any such Event of Default or an acquiescence therein.
Every right and remedy given by this Article or by law to the Trustees or to the
Holders may be exercised from time to time, and as often as may be deemed
expedient, by the Trustees or by the Holders, as the case may be.</P>
<P align=center>- 60 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify><STRONG>Section
6.12&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Control
by Holders</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to the Securities of
any series, the Holders of not less than a majority in principal amount of the
Outstanding Securities of such series shall have the right to direct the time,
method and place of conducting any proceeding for any remedy available to the
Trustees, or exercising any trust or power conferred on the Trustees, relating
to or arising under clause (1), (2), (3), (4), (5) or (8) of Section 6.01, and,
with respect to all Securities, the Holders of not less than a majority in
principal amount of all Outstanding Securities shall have the right to direct
the time, method and place of conducting any proceeding for any remedy available
to the Trustees, or exercising any trust or power conferred on the Trustees, not
relating to or arising under clause (1), (2), (3), (4), (5) or (8) of Section
6.01, provided that in each case</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>such direction shall not be in conflict with any rule of
      law or with this Indenture,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>the Trustees may take any other action deemed proper by
      the Trustees which is not inconsistent with such direction, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>the Trustees need not take any action which might involve
      them in personal liability or be unjustly prejudicial to the Holders of
      Securities of such series not consenting.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
6.13&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Waiver
of Past Defaults</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 6.02, the
Holders of not less than a majority in principal amount of the Outstanding
Securities of any series may on behalf of the Holders of all the Securities of
such series waive any past default described in clause (1), (2), (3), (4), (5)
or (8) of Section 6.01 (or, in the case of a default described in clause (6) or
(7) of Section 6.01, the Holders of not less than a majority in principal amount
of all Outstanding Securities may waive any such past default), and its
consequences, except a default</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>in respect of the payment of the principal of (or
      premium, if any) or interest, if any, on any Security or any related
      coupon, or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>in respect of a covenant or provision hereof which under
      Article Ten cannot be modified or amended without the consent of the
      Holder of each outstanding Security of such series
  affected.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any such waiver, any such
default shall cease to exist, and any Event of Default arising therefrom shall
be deemed to have been cured, for every purpose of this Indenture; but no such
waiver shall extend to any subsequent or other default or Event of Default or
impair any right consequent thereon.</P>
<P align=justify><STRONG>Section
6.14&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Waiver
of Stay or Extension Laws</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants (to the
extent that it may lawfully do so) that it will not at any time insist upon, or
plead, or in any manner whatsoever claim or take the benefit or advantage of,
any stay or extension law wherever enacted, now or at any time hereafter in
force, which may affect the covenants or the performance of this Indenture; and
the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law and covenants that it will not hinder, delay or impede
the execution of any power herein granted to the Trustees, but will suffer and
permit the execution of every such power as though no such law had been
enacted.</P>
<P align=center>- 61 -</P>
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<P align=justify><STRONG>Section
6.15</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Undertaking for Costs</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In any suit for the enforcement
of any right or remedy under this Indenture, or in any suit against either
Trustee for any action taken, suffered or omitted by it as Trustee, a court may
require any party litigant in such suit to file an undertaking to pay the costs
of such suit, and may assess costs against any such party litigant, in the
manner and to the extent provided in Trust Indenture Legislation;
<U>provided</U>, <U>however</U>, that neither this Section nor the provisions of
Section 315(e) of the Trust Indenture Act shall apply to any suit instituted by
either Trustee or by any Holder or group of Holders holding more than 10% in
principal amount of all Outstanding Securities or by any Holder of any Security
on any suit for the enforcement of the right to receive the principal of and
interest (including any Additional Amounts) on any such Securities.</P>
<P align=center>ARTICLE SEVEN <BR>THE TRUSTEES</P>
<P align=justify><STRONG>Section
7.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Notice
of Defaults</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Trustee shall promptly give
the other Trustee notice of any Default or Event of Default known to it. Within
a reasonable time, but no more than 30 days after either Trustee has knowledge
of any Default hereunder with respect to the Securities of any series, one or
both of the Trustees shall transmit in the manner and to the extent provided in
Trust Indenture Legislation, including TIA Section 313(c), notice to the Holders
of such Default hereunder known to either Trustee, unless such Default shall
have been cured or waived (and, in the case where such Default shall have been
cured, the Trustees shall notify the Holders in writing of such cure in writing
within a reasonable time, but not exceeding 30 days, after the Trustees have
become aware that the Default has been cured); <U>provided</U>, <U>however</U>,
that, except in the case of a Default in the payment of the principal of (or
premium, if any) or interest, if any, on any Security of such series or in the
payment of any sinking fund installment with respect to Securities of such
series, the Trustees shall be protected in withholding such notice if and so
long as the board of directors, the executive committee or a trust committee of
directors and/or Responsible Officers of each Trustee in good faith determine
that the withholding of such notice is in the interest of the Holders of
Securities of such series and any related coupons and so advises the Company in
writing; and <U>provided further </U>that in the case of any Default of the
character specified in Section 6.01(4) with respect to Securities of such
series, no such notice to Holders shall be given until at least 30 days after
the occurrence thereof.</P>
<P align=justify><STRONG>Section
7.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Certain
Duties and Responsibilities of Trustees</STRONG></P>
<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustees, prior to the occurrence of an Event of Default and after the curing of
all Events of Default that may have occurred, shall undertake to perform with
respect to the Securities of any series such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants shall be read
into this Indenture against the Trustees.</P>
<P align=center>- 62 -</P>
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<P
align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
all instances, in the exercise of the powers and discharge of obligations
prescribed or conferred by the terms of this Indenture, each Trustee shall act
honestly and in good faith with a view to the best interests of the Holders and
exercise the care, diligence and skill that a reasonably prudent trustee in
respect of indentures for the purpose of issuing corporate debt obligations
would exercise in comparable circumstances.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No provision of this Indenture shall be construed to relieve each Trustee from
liability for its own actions or failure to act in accordance with Section
7.02(b), except that:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD colSpan=2>
      <P align=justify>prior to the occurrence of an Event of Default and after
      the curing or waiving of all such Events of Default that may have
      occurred:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(A) </TD>
    <TD>
      <P align=justify>the duties and obligations of each Trustee with respect
      to the Securities of any series shall be determined solely by the express
      provisions of this Indenture, and the Trustees shall not be liable except
      for the performance of such duties and obligations as are specifically set
      forth in this Indenture, and no implied covenants or obligations shall be
      read into this Indenture against the Trustees; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(B) </TD>
    <TD>
      <P align=justify>in the absence of bad faith on the part of either
      Trustee, such Trustee may conclusively rely, as to the truth of the
      statements and the correctness of the opinions expressed therein, upon any
      certificates or opinions furnished to the Trustees and conforming to the
      requirements of this Indenture and Trust Indenture Legislation; but in the
      case of any such certificates or opinions that by any provision hereof are
      specifically required to be furnished to the Trustees, the Trustees shall
      be under a duty to examine the same to determine whether or not they
      conform to the requirements of this Indenture; provided, however, the
      Canadian Trustee shall not be required to determine whether the
      certificates or opinions presented to it conform to the TIA and the U.S.
      Trustee shall not be required to determine whether the certificates or
      opinions presented to it conform to Canadian Trust Indenture
      Legislation.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD colSpan=2>
      <P align=justify>the Trustees shall not be liable with respect to any
      action taken or omitted to be taken by them in good faith in accordance
      with the direction of the Holders of not less than a majority in principal
      amount of the Securities of any series at the time Outstanding relating to
      the time, method and place of conducting any proceeding for any remedy
      available to the Trustees, or exercising any trust or power conferred upon
      the Trustees under this Indenture;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD colSpan=2>
      <P align=justify>none of the provisions contained in this Indenture shall
      require either Trustee to expend or risk their own funds or otherwise
      incur personal or any financial liability in the performance of any of
      their duties or in the exercise of any of their rights or powers;
    and</P></TD></TR></TABLE>
<P align=center>- 63 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>whether or not therein expressly so provided, except to
      the extent expressly provided herein to the contrary, every provision of
      this Indenture relating to the conduct or effecting the liability or
      affording protection to the Trustees shall be subject to the provisions of
      this Section.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
7.03</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Certain Rights of Trustees</STRONG></P>
<P style="MARGIN-LEFT: 5%" align=justify>Subject to the provisions of TIA
Sections 315(a) through 315(d):</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>the Trustees may rely and shall be protected in acting or
      refraining from acting upon any resolution, certificate, statement,
      instrument, opinion, report, notice, request, direction, consent, order,
      bond, debenture, note, other evidence of indebtedness or other paper or
      document believed by them to be genuine and to have been signed or
      presented by the proper party or parties;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>any request or direction of the Company mentioned herein
      shall be sufficiently evidenced by a Company Request or Company Order and
      any resolution of the Board of Directors may be sufficiently evidenced by
      a Board Resolution;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>whenever in the administration of this Indenture the
      Trustees shall deem it desirable that a matter be proved or established
      prior to taking, suffering or omitting any action hereunder, each Trustee
      (unless other evidence be herein specifically prescribed) may, in the
      absence of bad faith on its part, rely upon an Officers&#146;
    Certificate;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>the Trustees may consult with counsel and the written
      advice of such counsel or any opinion of Counsel shall be full and
      complete authorization and protection in respect of any action taken,
      suffered or omitted by them hereunder in good faith and in reliance
      thereon;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>the Trustees shall be under no obligation to exercise any
      of the rights or powers vested in it by this Indenture at the request or
      direction of any of the Holders of Securities of any series or any related
      coupons pursuant to this Indenture, unless such Holders shall have offered
      to the Trustees reasonable security or indemnity against the costs,
      expenses and liabilities which might be incurred by them in compliance
      with such request or direction;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>the Trustees shall not be bound to make any investigation
      into the facts or matters stated in any resolution, certificate,
      statement, instrument, opinion, report, notice, request, direction,
      consent, order, bond, debenture, note, other evidence of indebtedness or
      other paper or document, but the Trustees, in their discretion, may make
      such further inquiry or investigation into such facts or matters as they
      may see fit, and, if the Trustees shall determine to make such further
      inquiry or investigation, they shall be entitled to examine the books,
      records and premises of the Company, personally or by agent or
      attorney;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>in an Event of Default, the Trustees&#146; powers shall not be
      infringed upon so long as they act in accordance with Section
    7.02(b);</P></TD></TR></TABLE>
<P align=center>- 64 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>the Trustees may execute any of the trusts or powers
      hereunder or perform any duties hereunder either directly or by or through
      agents or attorneys and the Trustees shall not be responsible for any
      misconduct or negligence on the part of any agent or attorney appointed
      with due care by them hereunder; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(9) </TD>
    <TD>
      <P align=justify>the Trustees shall not be liable for any action taken,
      suffered or omitted by them in good faith and believed by them to be
      authorized or within the discretion or rights or powers conferred upon
      them by this Indenture so long as they act in accordance with Section
      7.02(b).</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
7.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Trustees
Not Responsible for Recitals or Issuance of Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The recitals contained herein and
in the Securities, except for a Trustee&#146;s certificates of authentication, and in
any coupons shall be taken as the statements of the Company, and neither Trustee
nor any Authenticating Agent assumes any responsibility for their correctness.
The Trustees make no representations as to the validity or sufficiency of this
Indenture or of the Securities or coupons, except that the Trustees represent
that they are duly authorized to execute and deliver this Indenture,
authenticate the Securities and perform their obligations hereunder and that the
statements made by the U.S. Trustee in a Statement of Eligibility on Form T-1
supplied to the Company are true and accurate, subject to the qualifications set
forth therein. Neither Trustee nor any Authenticating Agent shall be accountable
for the use or application by the Company of Securities or the proceeds thereof.
Nothing herein contained will impose on either Trustee any obligation to see to,
or to require evidence of, the registration or filing (or renewal thereof) of
this Indenture or any supplemental indenture. The Trustees shall not be bound to
give notice to any person of the execution hereof.</P>
<P align=justify><STRONG>Section
7.05</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
May Hold Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees, any Authenticating
Agent, any Paying Agent, any Security Registrar or any other agent of the
Company or of the Trustees, in their individual or any other capacity, may
become the owner or pledgee of Securities and coupons and, subject to TIA
Sections 310(b) and 311, may otherwise deal with the Company, including, without
limitation, as a creditor of the Company, with the same rights they would have
if they were not Trustees, Authenticating Agent, Paying Agent, Security
Registrar or such other agent. A Trustee that has resigned or was removed shall
remain subject to TIA Section 311(a) to the extent provided therein.</P>
<P align=justify><STRONG>Section
7.06&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Money
Held in Trust</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money held by the Trustees in
trust hereunder need not be segregated from other funds except to the extent
required by law. The Trustees shall be under no liability for interest on any
money received by them hereunder except as otherwise agreed with the
Company.</P>
<P align=justify><STRONG>Section
7.07</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Compensation and Reimbursement</STRONG></P>
<P style="MARGIN-LEFT: 5%" align=justify>The Company agrees:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>to pay to the Trustees from time to time reasonable
      compensation for all services rendered by them hereunder (which
      compensation shall not be limited by any provision of law in regard to the compensation of a
      trustee of an express trust); any invoices which remain outstanding for 30
      days following the date of invoice shall accrue interest at the then
      current rate of interest charged by the Canadian Trustee to it corporate
  clients;</P></TD></TR></TABLE>
<P align=center>- 65 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>except as otherwise expressly provided herein, to
      reimburse the Trustees upon their request for all reasonable expenses,
      disbursements and advances incurred or made by the Trustees in accordance
      with any provision of this Indenture (including the reasonable
      compensation and the expenses and disbursements of their agents and
      counsel), except any such expense, disbursement or advance as may be
      attributable to the U.S. Trustee&#146;s gross negligence or bad faith or the
      Canadian Trustee&#146;s gross negligence or willful misconduct, respectively;
      and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>to indemnify the Trustees for, and to hold them and their
      directors, officers, agents, representatives, successors, assigns and
      employees harmless against, any loss, liability or expense incurred
      without gross negligence or bad faith on the part of the U.S. Trustee, or
      gross negligence or willful misconduct on the part of the Canadian
      Trustee, respectively, arising out of or in connection with the acceptance
      or administration of the trust or trusts hereunder, including reasonable
      attorneys&#146; fees and other reasonable costs and expenses of defending
      themselves against any claim or liability in connection with the exercise
      or performance of any of their powers or duties
  hereunder.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligations of the Company
under this Section to compensate the Trustees, to pay or reimburse the Trustees
for expenses, disbursements and advances and to indemnify and hold harmless the
Trustees shall constitute additional indebtedness hereunder and shall survive
the satisfaction and discharge of this Indenture and the resignation or removal
of the Trustee. As security for the performance of such obligations of the
Company, the Trustees shall have a claim prior to the Securities upon all
property and funds held or collected by the Trustees as such, except funds held
in trust for the payment of principal of (or premium, if any) or interest, if
any, on particular Securities or any coupons.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When the Trustees incur expenses
or render services in connection with an Event of Default specified in Section
6.01(6) or (7), the expenses (including reasonable charges and expense of its
counsel) of and the compensation for such services are intended to constitute
expenses of administration under any applicable U.S. or Canadian federal, state
or provincial bankruptcy, insolvency or other similar law.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Section
shall survive the termination of this Indenture.</P>
<P align=justify><STRONG>Section
7.08&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Corporate
Trustees Required; Eligibility</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>There shall be at all times a U.S. Trustee hereunder
      which shall be eligible to act as Trustee under TIA Section 310(a)(1) and,
      together with its immediate parent, shall have a combined capital and
      surplus of at least $50,000,000. If the U.S. Trustee publishes reports of
      condition at least annually, pursuant to law or to the requirements of
      U.S. federal, state, territorial or District of Columbia
  supervising or examining authority, then for the purposes of this
      Section, the combined capital and surplus of U.S. Trustee shall be deemed
      to be its combined capital and surplus as set forth in its most recent
      report of condition so published. If at any time the U.S. Trustee shall
      cease to be eligible in accordance with the provisions of this Section, it
      shall resign immediately in the manner and with the effect hereinafter
  specified in this Article.</P></TD></TR></TABLE>
<P align=center>- 66 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>For so long as required by Trust Indenture Legislation,
      there shall be a Canadian Trustee under this Indenture. The Canadian
      Trustee shall at all times be a resident or authorized to do business in
      the Province of British Columbia and any other province in Canada where
      Holders may be resident from time to time. The Canadian Trustee represents
      and warrants that no material conflict of interest exists in the Canadian
      Trustee&#146;s role as a fiduciary hereunder and agrees that in the event of a
      material conflict of interest arising hereafter it will, within 30 days
      after ascertaining that it has such material conflict of interest, either
      eliminate the same or resign its trust hereunder. If any such material
      conflict of interests exists or hereafter shall exist, the validity and
      enforceability of this Indenture shall not be affected in any manner
      whatsoever by reason thereof or the removal or resignation of the
      Trustees.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>The Trustees will not be required to give any bond or
      security in respect of the execution of the trusts and powers set out in
      this Indenture or otherwise in respect of the premises.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>Neither Trustee nor any Affiliate of either Trustee shall
      be appointed a receiver or receiver and manager or liquidator of all or
      any part of the assets or undertaking of the
Company.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
7.09</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Resignation and Removal; Appointment of Successor</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>No resignation or removal of either Trustee and no
      appointment of a successor Trustee pursuant to this Article shall become
      effective until the acceptance of appointment by the successor Trustee in
      accordance with the applicable requirements of Section 7.10.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Either Trustee may resign at any time with respect to the
      Securities of one or more series by giving written notice thereof to the
      Company. If the instrument of acceptance by a successor Trustee required
      by Section 7.10 shall not have been delivered to such Trustee within 30
      days after the giving of such notice of resignation, the resigning Trustee
      may petition any court of competent jurisdiction for the appointment of a
      successor Trustee with respect to the Securities of such series.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>Either Trustee may be removed following thirty days
      notice with respect to the Securities of any series by Act of the Holders
      of not less than a majority in principal amount of the Outstanding
      Securities of such series, delivered to such Trustee and to the
      Company.</P></TD></TR></TABLE>
<P align=center>- 67 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD colSpan=2>
      <P align=justify>If at any time:</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>either Trustee shall acquire any conflicting interest as
      defined in TIA Section 310(b) and fail to comply with the provisions of
      TIA Section 310(b)(i), or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>either Trustee shall fail to comply with the provisions
      of TIA Section 310(b) after written request therefor by the Company or by
      any Holder who has been a bona fide Holder of a Security for at least six
      months, or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>either Trustee shall cease to be eligible under Section
      7.08 and shall fail to resign after written request therefor by the
      Company or by any Holder who has been a bona fide Holder of a Security for
      at least six months, or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>either Trustee shall become incapable of acting or shall
      be adjudged a bankrupt or insolvent or a receiver of such Trustee or of
      its property shall be appointed or any public officer shall take charge or
      control of such Trustee or of its property or affairs for the purpose of
      rehabilitation, conservation or liquidation,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD colSpan=2>
      <P align=justify>then, in any such case, (i) the Company, by a Board
      Resolution, may remove such Trustee with respect to all Securities, or
      (ii) subject to TIA Section 315(e), any Holder who has been a bona fide
      Holder of a Security of such series for at least six months may, on behalf
      of himself and all others similarly situated, petition any court of
      competent jurisdiction for the removal of such Trustee with respect to all
      Securities of such series and the appointment of a successor Trustee or
      Trustees.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD colSpan=2>
      <P align=justify>If either Trustee shall resign, be removed or become
      incapable of acting, or if a vacancy shall occur in the office of the U.S.
      Trustee or the Canadian Trustee for any cause, with respect to the
      Securities of one or more series, the Company, by a Board Resolution,
      shall promptly appoint a successor Trustee or Trustees with respect to the
      Securities of that or those series (it being understood that any such
      successor Trustee may be appointed with respect to the Securities of one
      or more or all of such series) <U>provided</U>, <U>however</U>, that the
      Company shall not be required to appoint a successor Trustee to the
      Canadian Trustee if the Canadian Trustee resigns or is removed and a
      Canadian Trustee under this Indenture is no longer required under Trust
      Indenture Legislation. If, within one year after such resignation, removal
      or incapability, or the occurrence of such vacancy, a successor Trustee
      with respect to the Securities of any series shall be appointed by Act of
      the Holders of a majority in principal amount of the Outstanding
      Securities of such series delivered to the Company and the retiring
      Trustee, the successor Trustee so appointed shall, forthwith upon its
      acceptance of such appointment, become the successor Trustee with respect
      to the Securities of such series and to that extent supersede the
      successor Trustee appointed by the Company. If no successor Trustee with
      respect to the Securities of any series shall have been so appointed by
      the Company or the Holders and accepted appointment in the manner
      hereinafter provided, any Holder who has been a bona fide Holder of
    a Security of such series for at least six months may, on
      behalf of himself and all others similarly situated, petition any court of
      competent jurisdiction for the appointment of a successor Trustee with
  respect to the Securities of such series.</P></TD></TR></TABLE>
<P align=center>- 68 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_75></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>The Company shall give notice of each resignation and
      each removal of a Trustee with respect to the Securities of any series and
      each appointment of a successor Trustee with respect to the Securities of
      any series to the Holders of Securities of such series in the manner
      provided for in Section 1.06. Each notice shall include the name of the
      successor Trustee with respect to the Securities of such series and the
      address of its Corporate Trust Office.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>If a Canadian Trustee under this Indenture is no longer
      required by Trust Indenture Legislation, then the Company by a Board
      Resolution may remove the Canadian Trustee after giving 30 days
    notice.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
7.10&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Acceptance
of Appointment by Successor</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>In case of the appointment hereunder of a successor
      Trustee with respect to all Securities, every such successor Trustee so
      appointed shall execute, acknowledge and deliver to the Company and to the
      retiring Trustee an instrument accepting such appointment, and thereupon
      the resignation or removal of the retiring Trustee shall become effective
      and such successor Trustee, without any further act, deed or conveyance,
      shall become vested with all the rights, powers, trusts and duties of the
      retiring Trustee; but, on the request of the Company or the successor
      Trustee, such retiring Trustee shall, upon payment of its charges, execute
      and deliver an instrument transferring to such successor Trustee all the
      rights, powers and trusts of the retiring Trustee and shall duly assign,
      transfer and deliver to such successor Trustee all property and money held
      by such retiring Trustee hereunder.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>In case of the appointment hereunder of a successor
      Trustee with respect to the Securities of one or more (but not all)
      series, the Company, the retiring Trustee and each successor Trustee with
      respect to the Securities of one or more series shall execute and deliver
      an indenture supplemental hereto wherein each successor Trustee shall
      accept such appointment and which (a) shall contain such provisions as
      shall be necessary or desirable to transfer and confirm to, and to vest
      in, each successor Trustee all the rights, powers, trusts and duties of
      the retiring Trustee with respect to the Securities of that or those
      series to which the appointment of such successor Trustee relates, (b) if
      the retiring Trustee is not retiring with respect to all Securities, shall
      contain such provisions as shall be deemed necessary or desirable to
      confirm that all the rights, powers, trusts and duties of the retiring
      Trustee with respect to the Securities of that or those series as to which
      the retiring Trustee is not retiring shall continue to be vested in the
      retiring Trustee, and (c) shall add to or change any of the provisions of
      this Indenture as shall be necessary to provide for or facilitate the
      administration of the trusts hereunder by more than one Trustee, it being
      understood that nothing herein or in such supplemental indenture shall
      constitute such Trustees co-trustees of the same trust and that each such Trustee shall be
      trustee of a trust or trusts hereunder separate and apart from any trust
      or trusts hereunder administered by any other such Trustee; and upon the
      execution and delivery of such supplemental indenture the resignation or
      removal of the retiring Trustee shall become effective to the extent
      provided therein and each such successor Trustee, without any further act,
      deed or conveyance, shall become vested with all the rights, powers,
      trusts and duties of the retiring Trustee with respect to the Securities
      of that or those series to which the appointment of such successor Trustee
      relates; but, on request of the Company or any successor Trustee, such
      retiring Trustee shall duly assign, transfer and deliver to such successor
      Trustee all property and money held by such retiring Trustee hereunder
      with respect to the Securities of that or those series to which the
      appointment of such successor Trustee relates. Whenever there is a
      successor Trustee with respect to one or more (but less than all) series
      of Securities issued pursuant to this Indenture, the terms &#147;Indenture&#148; and
      &#147;Securities&#148; shall have the meanings specified in the provisions to the
      respective definitions of those terms in Section 1.01 which contemplate
  such situation.</P></TD></TR></TABLE>
<P align=center>- 69 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>Upon reasonable request of any such successor Trustee,
      the Company shall execute any and all instruments for more fully and
      certainly vesting in and confirming to such successor Trustee all rights,
      powers and trusts referred to in paragraph (1) or (2) of this Section, as
      the case may be.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>No successor Trustee shall accept its appointment unless
      at the time of such acceptance such successor Trustee shall be qualified
      and eligible under this Article.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
7.11&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Merger,
Conversion, Consolidation or Succession to Business</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any corporation into which either
Trustee or its corporate trust business may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion
or consolidation to which either Trustee shall be a party, or any corporation
succeeding to all or substantially all the corporate trust business of either
Trustee, shall be the successor of such Trustee hereunder, provided such
corporation shall be otherwise qualified and eligible under this Article,
without the execution or filing of any paper or any further act on the part of
any of the parties hereto. In case any Securities shall have been authenticated,
but not delivered, by a Trustee then in office, any successor by merger,
conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Securities so authenticated with the same effect
as if such successor Trustee had itself authenticated such Securities. In case
any of the Securities shall not have been authenticated by such predecessor
Trustee, any successor Trustee may authenticate such Securities either in the
name of any predecessor hereunder or in the name of the successor Trustee. In
all such cases such certificates shall have the full force and effect which this
Indenture provides for the certificate of authentication of such Trustee;
<U>provided</U>, <U>however</U>, that the right to adopt the certificate of
authentication of any predecessor Trustee or to authenticate Securities in the
name of any predecessor Trustee shall apply only to its successor or successors
by merger, conversion or consolidation.</P>
<P align=center>- 70 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_77></A>
<P align=justify><STRONG>Section
7.12&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Appointment
of Authenticating Agent</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At any time when any of the
Securities remain outstanding, the Trustees may appoint an Authenticating Agent
or Agents, with respect to one or more series of Securities which shall be
authorized to act on behalf of the Trustees to authenticate Securities of such
series and the Trustees shall give written notice of such appointment to all
Holders of Securities of the series with respect to which such Authenticating
Agent will serve, in the manner provided for in Section 1.06. Securities so
authenticated shall be entitled to the benefits of this Indenture and shall be
valid and obligatory for all purposes as if authenticated by the Appropriate
Trustee hereunder. Any such appointment shall be evidenced by an instrument in
writing signed by a Responsible Officer of the Trustees, and a copy of such
instrument shall be promptly furnished to the Company. Wherever reference is
made in this Indenture to the authentication and delivery of Securities by the
Trustees or either Trustee&#146;s certificate of authentication, such reference shall
be deemed to include authentication and delivery on behalf of the Trustees by an
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustees by an Authenticating Agent. Each Authenticating Agent shall be
acceptable to the Company and shall at all times be a corporation organized and
doing business under the laws of the United States of America, any state thereof
or the District of Columbia or the laws of Canada or any province thereof,
authorized under such laws to act as Authenticating Agent, having a combined
capital and surplus of not less than $50,000,000 and subject to supervision or
examination by U.S. federal or state or Canadian federal or provincial
authority. If such corporation publishes reports of condition at least annually,
pursuant to law or to the requirements of said supervising or examining
authority, then for the purposes of this Section, the combined capital and
surplus of such corporation shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. If at
any time an Authenticating Agent shall cease to be eligible in accordance with
the provisions of this Section, it shall resign immediately in the manner and
with the effect specified in this Section.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any corporation into which an
Authenticating Agent may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which such Authenticating Agent shall be a party, or any
corporation succeeding to the corporate agency or corporate trust business of an
Authenticating Agent, shall continue to be an Authenticating Agent, provided
such corporation shall be otherwise eligible under this Section, without the
execution or filing of any paper or any further act on the part of the Trustees
or the Authenticating Agent.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An Authenticating Agent may
resign at any time by giving written notice thereof to the Trustees and to the
Company. The Trustees may at any time terminate the agency of an Authenticating
Agent by giving written notice thereof to such Authenticating Agent and to the
Company. Upon receiving such a notice of resignation or upon such a termination,
or in case at any time such Authenticating Agent shall cease to be eligible in
accordance with the provisions of this Section, the Trustees may appoint a
successor Authenticating Agent which shall be acceptable to the Company and
shall give written notice of such appointment to all Holders of Securities of
the series with respect to which such Authenticating Agent will serve, in the
manner provided for in Section 1.06. Any successor Authenticating Agent upon
acceptance of its appointment hereunder shall become vested with all the rights,
powers and duties of its predecessor hereunder, with like effect as if
originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section.</P>
<P align=center>- 71 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees agree to pay to each
Authenticating Agent from time to time reasonable compensation for its services
under this Section, and the Trustees shall be entitled to be reimbursed for such
payments, subject to the provisions of Section 7.07.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If an appointment with respect to
one or more series is made pursuant to this Section, the Securities of such
series may have endorsed thereon, in addition to either Trustee&#146;s certificate of
authentication, an alternate certificate of authentication in the following
form:</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Certificate of Authentication may be executed by either
Trustee)</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;, as U.S. Trustee, certifies
that this is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.</P>
<P align=justify>Dated: ____________</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&#149;, </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">as U.S. Trustee </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By: _______________________</TD></TR>
  <TR vAlign=top>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="50%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As
      Authenticating Agent </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By: _______________________</TD></TR>
  <TR vAlign=top>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="50%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized
      Officer </TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;, as Canadian Trustee, certifies
that this is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.</P>
<P align=justify>Dated: ____________</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">&#149;, as Canadian Trustee </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By: ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="50%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As
      Authenticating Agent </TD></TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD align=left width="50%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="50%">By: ______________________</TD></TR>
  <TR vAlign=top>
    <TD align=center >&nbsp;</TD>
    <TD align=left width="50%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Authorized
      Officer </TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><STRONG>Section
      7.13</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <B>Joint Trustees</B> </TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>
      <P align=justify>The rights, powers, duties and obligations conferred and
      imposed upon the Trustees are conferred and imposed upon and shall be
      exercised and performed by the U.S. Trustee and the Canadian Trustee
      individually, except to the extent the Trustees are required under Trust
      Indenture Legislation to perform such acts jointly, and neither Trustee
      shall be liable or responsible for the acts or omissions of the other
      Trustee. If the U.S. Trustee and Canadian Trustee are unable to agree
      jointly to act or refrain from acting, the Appropriate Trustee shall
    make the decision in accordance with its applicable
legislation. Unless the context implies or requires otherwise, any written
notice, request, direction, certificate, instruction, opinion or other document
(each such document, a &#147;Writing&#148;) delivered pursuant to any provision of this
Indenture to any of the U.S. Trustee or the Canadian Trustee shall be deemed for
all purposes of this Indenture as delivery of such Writing to the Trustee. Each
such trustee in receipt of such Writing shall notify such other trustee of its
receipt of such Writing within two Business Days of such receipt <u>provided</u>, <u>however</u>, that any failure of such trustee in receipt of
such Writing to so notify such other trustee shall not be deemed as a deficiency
in the delivery of such Writing to the Trustee.</P></TD></TR></TABLE>
<P align=center>- 72 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<P align=justify><STRONG>Section
7.14&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Other
Rights of Trustees</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Trustee shall retain the
right not to act and shall not be liable for refusing to act if, due to a lack
of information or for any other reason whatsoever, either Trustee, in its sole
judgment, determines that such act might cause it to be in non-compliance with
any applicable anti-money laundering or anti-terrorist legislation, regulation
or guideline. Further, should either Trustee, in its sole judgment, determine at
any time that its acting under this Indenture has resulted in its being in
non-compliance with any applicable anti-money laundering or anti-terrorist
legislation, regulation or guideline, then it shall have the right to resign on
10 days written notice to all parties provided (i) that such Trustee&#146;s written
notice shall describe the circumstances of such non-compliance; and (ii) that if
such circumstances are rectified to such Trustee&#146;s satisfaction within such 10
day period, then such resignation shall not be effective.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The parties hereto acknowledge
that Canadian federal and provincial legislation addressing the protection of
individuals&#146; personal information (collectively, &#147;Privacy Laws&#148;) applies to
obligations and activities under this Indenture. Despite any other provision of
this Indenture, neither party shall take or direct any action that would
contravene, or cause the other to contravene, applicable Privacy Laws. The
Company, prior to transferring, or causing to be transferred, personal
information to the Canadian Trustee, shall obtain and retain required consents
of the relevant individuals to the collection, use and disclosure of their
personal information, or shall have determined that such consents either have
been previously given and can be relied on or are not required under Privacy
Laws. The Canadian Trustee shall use commercially reasonable efforts to ensure
that its services hereunder comply with Privacy Laws. Specifically, the Trustee
agrees to (i) have designated a chief privacy officer; (ii) maintain policies
and procedures to protect personal information and to receive and respond to any
privacy complaint or inquiry; (iii) use personal information solely for the
purposes of providing its services under or ancillary to this Indenture and not
to use it for any other purpose except with the consent and direction of the
Company; (iv) not sell or otherwise improperly disclose personal information to
any third party; and (v) use employee administrative, physical and technological
safeguards to reasonably secure and protect personal information against loss,
theft or unauthorized access, use or modification.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It is expressly acknowledged and
agreed that the Canadian Trustee may, in the course of providing services
hereunder, collect or receive, use and disclose financial and other personal
information about such parties and/or their representatives, as individuals, or
about other individuals related to the subject matter hereof, and use such
information for the following purposes:</P>
<P align=center>- 73 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_80></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>to provide the services required under this Indenture and
      other services that may be requested from time to time;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>to help the Canadian Trustee manage its servicing
      relationships with such individuals;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iii) </TD>
    <TD>
      <P align=justify>to meet the Canadian Trustee&#146;s legal and regulatory
      requirements; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(iv) </TD>
    <TD>
      <P align=justify>if social insurance numbers are collected by the Canadian
      Trustee, to perform tax reporting and to assist in verification of an
      individual&#146;s identity for security purposes.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Further, each party agrees that
it shall not provide or cause to be provided to the Canadian Trustee any
personal information relating to an individual who is not a party to this
Indenture unless that party has assured itself that such individual understands
and has consented to the aforementioned uses and disclosures. Notwithstanding
anything to the contrary herein, the Company and the Trustees may, without
liability, disclose information about the Holders and Beneficial Owners or
Potential Holders or Beneficial Owners of the Securities pursuant to subpoena or
other order issued by a court of competent jurisdiction or when otherwise
required by applicable law.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise notified, the
Trustees shall be entitled to assume that all payments have been made by the
Company as required under this Indenture.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees may assume for the
purposes of this Indenture that any address on the register of the Holders of
the Securities is the holder&#146;s actual address and is also determinative as to
residency.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees shall have no
obligation to ensure or verify compliance with any applicable laws or regulatory
requirements on the issue, exercise or transfer of any Securities provided such
issue, exercise or transfer, as the case may be, is effected in accordance with
the terms of this Indenture. The Trustees shall be entitled to process all
transfers of Securities upon the presumption that such transfers are permissible
pursuant to all applicable laws and regulatory requirements. The Trustees shall
have no obligation to ensure that legends appearing on the Securities
certificates comply with regulatory requirements or securities laws of any
applicable jurisdiction.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in this
Indenture, the Trustees shall retain the right not to act and shall not be held
liable for refusing to act unless it has received clear and reasonable
documentation which complies with the terms of this Indenture; such document
must not require the exercise of any discretion or independent judgment.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Trustee hereby accepts the
trusts in this Indenture declared and provided for and agrees to perform the
same upon the terms and conditions herein set forth and to hold all rights,
privileges and benefits conferred hereby and by law in trust for the various
persons who shall from time to time be holders, subject to all the terms and
conditions herein set forth.</P>
<P align=center>- 74 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_81></A>
<P align=justify><STRONG>Section
7.15</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Third Party Interests</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each party to this Indenture
hereby represents to each Trustee that any account to be opened by, or interest
to held by the Trustees in connection with this Indenture, for or to the credit
of such party, either (i) is not intended to be used by or on behalf of any
third party; or (ii) is intended to be used by or on behalf of a third party, in
which case such party hereto agrees to complete and execute forthwith a
declaration in each Trustee's prescribed form as to the particulars of such
third party.</P>
<P align=center>ARTICLE EIGHT<BR>HOLDERS&#146; LISTS AND REPORTS BY TRUSTEE AND
COMPANY</P>
<P align=justify><STRONG>Section
8.01</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Company to Furnish Trustee Names and Addresses of Holders</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will furnish or cause
to be furnished to the Trustee (1) not more than 15 days after each Regular
Record Date, or such lesser time as required by the Trustee, a list, in such
form as the Trustee may reasonably require, of the names and addresses of
Holders as of such Regular Record Date; provided, however, that the Company
shall not be obligated to furnish or cause to be furnished such list at any time
that the list shall not differ in any respect from the most recent list
furnished to the Trustee by the Company or at such times as the Trustee is
acting as Security Registrar for the applicable series of Securities and (2) at
such other times as the Trustee may request in writing within 30 days after the
receipt by the Company of any such request, a list of similar form and content
as of a date not more than 15 days prior to the time such list is furnished.</P>
<P align=justify><STRONG>Section
8.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Preservation
of List of Names and Addresses of Holders</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee shall preserve, in as
current a form as is reasonably practicable, all information as to the names and
addresses of the Holders contained in the most recent list furnished to it as
provided in Section 8.01 and as to the names and addresses of Holders received
by the Trustee in its capacity as Security Registrar for the applicable series
of Securities (if acting in such capacity). </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustee may destroy any list
furnished to it as provided in Section 8.01 upon receipt of a new list so
furnished. </P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holders may communicate as
provided in TIA Section 312(b) with other Holders with respect to their rights
under this Indenture or under the Securities.</P>
<P align=justify><STRONG>Section
8.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Disclosure
of Names and Addresses of Holders</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every Holder of Securities or
coupons, by receiving and holding the same, agrees with the Company and the
Trustees that none of the Company or the Trustees or any agent of either of them
shall be held accountable by reason of the disclosure of any such information as
to the names and addresses of the Holders in accordance with TIA Section 312,
regardless of the source from which such information was derived, and that the
Trustees shall not be held accountable by reason of mailing any material
pursuant to a request made under TIA Section 312(b).</P>
<P align=center>- 75 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify><STRONG>Section
8.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Reports
by Trustees</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Within 60 days after May 15 of each year commencing with
      the first year after the first issuance of Securities pursuant to this
      Indenture, the U.S. Trustee shall transmit to the Holders of Securities,
      in the manner and to the extent provided in Section 313(c) of the Trust
      Indenture Act, a brief report dated as of such reporting date, if required
      by Section 313(a) of the Trust Indenture Act.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>The U.S. Trustee shall comply with Sections 313(b) and
      313(c) of the Trust Indenture Act.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>A copy of such report shall, at the time of such
      transmission to the Holders, be filed by the U.S. Trustee with the Company
      (Attention: Chief Financial Officer), with each securities exchange upon
      which any of the Securities are listed (if so listed) and also with the
      Commission. The Company agrees to notify the Trustees when the Securities
      become listed on any securities exchange.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
8.05</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Reports by the Company</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>The Company will file with the Trustee, within 20 days
      after the Company files or furnishes them with the Commission, copies of
      the Company&#146;s annual reports and of the information, documents and other
      reports (or copies of such portions of any of the foregoing as the
      Commission may by rules and regulations prescribe) which the Company is
      required to file or furnish with the Commission pursuant to Section 13 or
      15(d) of the Exchange Act.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%"></TD>
    <TD>
      <P align=justify>Notwithstanding that the Company may not remain subject
      to the reporting requirements of Section 13 or 15(d) of the Exchange Act
      or otherwise report on an annual basis on forms provided for such annual
      reporting pursuant to rules and regulations promulgated by the Commission,
      the Company will continue to provide the
Trustee:</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  ></TD>
    <TD align=left ><LI></LI></TD>
    <TD align=left width="85%">
      <P align=justify>within 20 days after the time periods required for the
      filing or furnishing of such forms by the Commission, annual reports on
      Form 20-F or Form 40-F, as applicable, or any successor form, quarterly
      reports as furnished to the Commission on Form 6-K or any successor form,
      and copies of Canadian material change reports as furnished to the
      Commission on Form 6-K or any successor form; and
</P></TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>the Company will transmit to all Holders, in the manner
      and to the extent provided in Section 313(c) of the Trust Indenture Act,
      within 30 days after the filing thereof with the Trustees, such summaries
      of any information, documents and reports required to be filed by the
      Company pursuant to paragraph (1) of this Section as may be required by
      rules and regulations prescribed from time to time by the
    Commission.</P></TD></TR></TABLE>
<P align=center>- 76 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_83></A>
<P align=center>ARTICLE NINE<BR>CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR
LEASE</P>
<P align=justify><STRONG>Section
9.01</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Company May Consolidate, etc., only on Certain Terms</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall not amalgamate
or consolidate with or merge into or enter into any statutory arrangement with
any other Person, or, directly or indirectly, convey, transfer or lease all or
substantially all of its properties and assets to any Person, unless:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>the Person formed by or continuing from such amalgamation
      or consolidation or into which the Company is merged or with which it
      enters into such statutory arrangement or the Person which acquires by
      operation of law or by conveyance or transfer, or which leases, all or
      substantially all of the properties and assets of the Company shall be a
      corporation, partnership or trust organized and validly existing under the
      laws of Canada or any province or territory thereof, the United States of
      America or any state thereof or the District of Columbia or, if such
      amalgamation, merger, consolidation, statutory arrangement or other
      transaction would not impair the rights of Holders, any other country,
      and, unless the Company is the continuing corporation, shall expressly
      assume, by an indenture supplemental hereto, executed and delivered to the
      Trustees, in form satisfactory to the Trustees, the Company&#146;s obligation
      for the due and punctual payment of the principal of (and premium, if
      any), and interest, if any, on all the Securities and the performance and
      observance of every covenant of this Indenture on the part of the Company
      to be performed or observed;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>immediately after giving effect to such transaction, no
      Default or Event of Default shall have happened and be continuing;
    and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>the Company or such Person shall have delivered to the
      Trustees an officers&#146; Certificate and an opinion of Counsel, each stating
      that such amalgamation, statutory arrangement, consolidation, merger,
      conveyance, transfer or lease and such supplemental indenture comply with
      this Article and that all conditions precedent herein provided for
      relating to such transaction have been complied
with.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Section 9.01 shall only
apply to a merger, consolidation or amalgamation in which the Company is not the
surviving Person and to conveyances, leases and transfers by the Company as
transferor or lessor.</P>
<P align=justify><STRONG>Section
9.02</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Successor Person Substituted</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon any amalgamation or
consolidation by the Company with or merger by the Company into any other
corporation or a statutory arrangement or any conveyance, transfer or lease all
or substantially all of the properties and assets of the Company to any Person
in accordance with Section 9.01, the successor Person formed by such
amalgamation or consolidation or into which the Company is merged or statutory
arrangement, or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of,
the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and in
the event of any such conveyance or transfer, the Company (which term shall for
this purpose mean the Person named as the &#147;Company&#148; in the first paragraph of
this Indenture or any successor Person which shall theretofore become such in
the manner described in Section 9.01), except in the case of a lease, shall be
discharged of all obligations and covenants under this Indenture and the
Securities and the coupons and may be dissolved and liquidated.</P>
<P align=center>- 77 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<!--$$/page=--><A name=page_84></A>
<P align=center>ARTICLE TEN <BR>SUPPLEMENTAL INDENTURES</P>
<P align=justify><STRONG>Section
10.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Supplemental
Indentures Without Consent of Holders</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without the consent of any
Holders, the Company, when authorized by or pursuant to a Board Resolution, and
the Trustees, at any time and from time to time, may enter into one or more
indentures supplemental hereto, in form satisfactory to the Trustees, for any of
the following purposes:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>to evidence the succession of another Person to the
      Company and the assumption by any such successor of the covenants of the
      Company contained herein and in the Securities; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>to add to the covenants of the Company for the benefit of
      the Holders of all or any series of Securities and any related coupons
      (and if such covenants are to be for the benefit of less than all series
      of Securities, stating that such covenants are being included solely for
      the benefit of such series) or to surrender any right or power herein
      conferred upon the Company; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>to add any additional Events of Default (and if such
      Events of Default are to be for the benefit of less than all series of
      Securities, stating that such Events of Default are being included solely
      for the benefit of such series); or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>to add to or change any of the provisions of this
      Indenture to provide that Bearer Securities may be registrable as to
      principal, to change or eliminate any restrictions on the payment of
      principal of or any premium or interest on Bearer Securities, to permit
      Bearer Securities to be issued in exchange for Registered Securities, to
      permit Bearer Securities to be issued in exchange for Bearer Securities of
      other authorized denominations or to permit or facilitate the issuance of
      Securities in uncertificated form; provided that any such action shall not
      adversely affect the interests of the Holders of Securities of any series
      or any related coupons in any material respect; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>to change or eliminate any of the provisions of this
      Indenture; provided that any such change or elimination shall become
      effective only when there is no Security which is Outstanding of any
      series created prior to the execution of such supplemental indenture which
      is entitled to the benefit of such provision; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>to establish the form or terms of Securities of any
      series as permitted by Sections 2.01 and 3.01; or</P></TD></TR></TABLE>
<P align=center>- 78 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_85></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>to evidence and provide for the acceptance of appointment
      hereunder by a successor Trustee with respect to the Securities of one or
      more series and to add to or change any of the provisions of this
      Indenture as shall be necessary to provide for or facilitate the
      administration of the trusts hereunder by more than one Trustee, pursuant
      to the requirements of Section 7.10; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>to close this Indenture with respect to the
      authentication and delivery of additional series of Securities, to cure
      any ambiguity, to correct or supplement any provision herein which may be
      inconsistent with any other provision herein, or to make any other
      provisions with respect to matters or questions arising under this
      Indenture; provided that any such action shall not adversely affect the
      interests of the Holders of Securities of any series and any related
      coupons in any material respect; or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(9) </TD>
    <TD>
      <P align=justify>to supplement any of the provisions of this Indenture to
      such extent as shall be necessary to permit or facilitate the defeasance
      and discharge of any series of Securities pursuant to Sections 4.01, 15.02
      and 15.03; provided that any such action shall not adversely affect the
      interests of the Holders of Securities of such series and any related
      coupons or any other series of securities in any material respect;
    or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(10) </TD>
    <TD>
      <P align=justify>to modify, eliminate or add to the provisions of this
      Indenture to such extent as shall be necessary to effect the
      qualifications of this Indenture under any applicable law of the United
      States and Canada or of any province or territory thereof to the extent
      they do not conflict with the applicable law of the United States
      heretofore or hereafter enacted.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
10.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Supplemental
Indentures with Consent of Holders</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With the consent of the Holders
of not less than a majority in principal amount of all Outstanding Securities
affected by such supplemental indenture, by Act of said Holders delivered to the
Company and the Trustees, the Company, when authorized by or pursuant to a Board
Resolution, and the Trustees may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in
any manner or eliminating any of the provisions of this Indenture which affect
such series of Securities or of modifying in any manner the rights of the
Holders of Securities of such series under this Indenture; <U>provided</U>,
<U>however</U>, that no such supplemental indenture shall, without the consent
of the Holder of each Outstanding Security of such series,</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>change the Stated Maturity of the principal of (or
      premium, if any) or any installment of interest on any Security of such
      series, or reduce the principal amount thereof (or premium, if any) or the
      rate of interest, if any, thereon, or change any obligation of the Company
      to pay Additional Amounts contemplated by Section 11.05 (except as
      contemplated by Section 9.01 and permitted by Section 10.01), or reduce
      the amount of the principal of an Original Issue Discount Security of such
      series that would be due and payable upon a declaration of acceleration of
      the Maturity thereof pursuant to Section 6.02 or the
  amount thereof provable in bankruptcy pursuant to Section 6.04,
      or adversely affect any right of repayment at the option of any Holder of
      any Security of such series, or change any Place of Payment where, or the
      Currency in which, any Security of such series or any premium or interest
      thereon is payable, or impair the right to institute suit for the
      enforcement of any such payment on or after the Stated Maturity thereof
      (or, in the case of redemption or repayment at the option of the Holder,
      on or after the Redemption Date or Repayment Date, as the case may be), or
      adversely affect any right to convert or exchange any Security as may be
  provided pursuant to Section 3.01 herein, or</P></TD></TR></TABLE>
<P align=center>- 79 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_86></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>reduce the percentage in principal amount of the
      Outstanding Securities of such series required for any such supplemental
      indenture, or the consent of whose Holders is required for any waiver of
      compliance with certain provisions of this Indenture which affect such
      series or certain defaults applicable to such series hereunder and their
      consequences provided for in this Indenture, or reduce the requirements of
      Section 16.04 for quorum or voting with respect to Securities of such
      series, or</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>modify any of the provisions of this Section, Section
      6.13 or Section 11.08, except to increase any such percentage or to
      provide that certain other provisions of this Indenture which affect such
      series cannot be modified or waived without the consent of the Holder of
      each Outstanding Security of such series.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A supplemental indenture which
changes or eliminates any covenant or other provision of this Indenture which
has expressly been included solely for the benefit of one or more particular
series of Securities, or which modifies the rights of the Holders of Securities
of such series with respect to such covenant or other provision, shall be deemed
not to affect the rights under this Indenture of the Holders of Securities of
any other series. Any such supplemental indenture adding any provisions to or
changing in any manner or eliminating any of the provisions of this Indenture,
or modifying in any manner the rights of the Holders of Securities of such
series, shall not affect the rights under this Indenture of the Holders of
Securities of any other series.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It shall not be necessary for any
Act of Holders under this Section to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such Act shall approve the
substance thereof.</P>
<P align=justify><STRONG>Section
10.03</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Execution of Supplemental Indentures</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In executing, or accepting the
additional trusts created by, any supplemental indenture permitted by this
Article or the modifications thereby of the trusts created by this Indenture,
the Trustees shall be entitled to receive, in addition to the documents required
by Section 1.02, and shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized
or permitted by this Indenture. Each Trustee may, but shall not be obligated to,
enter into any such supplemental indenture which affects such Trustee&#146;s own
rights, duties or immunities under this Indenture or otherwise.</P>
<P align=center>- 80 -</P>
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<P align=justify><STRONG>Section
10.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Effect
of Supplemental Indentures</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the execution of any
supplemental indenture under this Article, this Indenture shall be modified in
accordance therewith, and such supplemental indenture shall form a part of this
Indenture for all purposes; and every Holder of Securities theretofore or
thereafter authenticated and delivered hereunder shall be bound thereby.</P>
<P align=justify><STRONG>Section
10.05</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Conformity with Trust Indenture Legislation</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every supplemental indenture
executed pursuant to this Article shall conform to the requirements of Trust
Indenture Legislation as then in effect.</P>
<P align=justify><STRONG>Section
10.06&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Reference
in Securities to Supplemental Indentures</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series
authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article may, and shall if required by the Trustees, bear a
notation in form approved by the Trustees as to any matter provided for in such
supplemental indenture. If the Company shall so determine, new Securities of any
series so modified as to conform, in the opinion of the Trustees and the
Company, to any such supplemental indenture may be prepared and executed by the
Company and authenticated and delivered by the Trustees in exchange for
outstanding Securities of such series.</P>
<P align=justify><B>Section 10.07<STRONG>&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of Supplemental Indentures</B></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly after the execution by
the Company and the Trustees of any supplemental indenture pursuant to the
provisions of Section 10.02, the Company shall give notice thereof to the
Holders of each outstanding Security affected, in the manner provided for in
Section 1.06, setting forth in general terms the substance of such supplemental
indenture.</P>
<P align=center>ARTICLE ELEVEN <BR>COVENANTS</P>
<P align=justify><STRONG>Section
11.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Payment
of Principal, Premium, if any, and Interest</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company covenants and agrees
for the benefit of the Holders of each series of Securities and any related
coupons that it will duly and punctually pay the principal of (and premium, if
any) and interest, if any, on the Securities of that series in accordance with
the terms of the Securities, any coupons appertaining thereto and this
Indenture. Unless otherwise specified as contemplated by Section 3.01 with
respect to any series of Securities, any interest installments due on Bearer
Securities on or before Maturity shall be payable only upon presentation and
surrender of the several coupons for such interest installments as are evidenced
thereby as they severally mature.</P>
<P align=justify><STRONG>Section
11.02</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Maintenance of Office or Agency</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>If the Securities of a series are issuable as Registered
      Securities, the Company will maintain in each Place of Payment for any
      series of Securities an office or agency where Securities of that series
      may be presented or surrendered for payment, where Securities of that series may be
      surrendered for registration of transfer or exchange, where Securities of
      that series that are convertible or exchangeable may be surrendered for
      conversion or exchange, as applicable, and where notices and demands to or
      upon the Company in respect of the Securities of that series and this
      Indenture may be served and, if the Securities of a series are also
      issuable as Bearer Securities, where Bearer Securities of that series and
      related coupons may be presented or surrendered for payment in the
  circumstances described in this Section 11.02.</P></TD></TR></TABLE>
<P align=center>- 81 -</P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>If Securities of a series are issuable as Bearer
      Securities, the Company will maintain (A) in The City of New York, an
      office or agency where any Registered Securities of that series may be
      presented or surrendered for payment, where any Registered Securities of
      that series may be surrendered for registration of transfer, where
      Securities of that series may be surrendered for exchange, where
      Securities of that series that are convertible or exchangeable may be
      surrendered for conversion or exchange, as applicable, where notices and
      demands to or upon the Company in respect of the Securities of that series
      and this Indenture may be served and where Bearer Securities of that
      series and related coupons may be presented or surrendered for payment in
      the circumstances described in the following paragraph (and not otherwise)
      (B) subject to any laws or regulations applicable thereto, in a Place of
      Payment for that series which is located outside the United States, an
      office or agency where Securities of that series and related coupons may
      be presented and surrendered for payment; <U>provided</U>, <U>however</U>,
      that, if the Securities of that series are listed on any stock exchange
      located outside the United States and such stock exchange shall so
      require, the Company will maintain a Paying Agent for the Securities of
      that series in any required city located outside the United States so long
      as the Securities of that series are listed on such exchange and (C)
      subject to any laws or regulations applicable thereto, in a Place of
      Payment for that series located outside the United States an office or
      agency where any Registered Securities of that series may be surrendered
      for registration of transfer, where Securities of that series may be
      surrendered for exchange, where Securities of that series that are
      convertible and exchangeable may be surrendered for conversion or
      exchange, as applicable, and where notices and demands to or upon the
      Company in respect of the Securities of that series and this Indenture may
      be served.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>The Company will give prompt written notice to the
      Trustees of the location, and any change in the location, of such office
      or agency. If at any time the Company shall fail to maintain any such
      required office or agency or shall fail to furnish the Trustees with the
      address thereof, such presentations, surrenders, notices and demands may
      be made or served at the Corporate Trust Office of the U.S. Trustee,
      except that Bearer Securities of any series and the related coupons may be
      presented and surrendered for payment at the offices specified in the
      Security and the Company hereby appoints the same as its agents to receive
      such respective presentations, surrenders, notices and
  demands.</P></TD></TR></TABLE>
<P align=center>- 82 -</P>
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<TABLE
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  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>Unless otherwise specified with respect to any Securities
      pursuant to Section 3.01, no payment of principal, premium or interest on
      Bearer Securities shall be made at any office or agency of the Company in
      the United States or by check mailed to any address in the United States
      or by transfer to an account maintained with a bank located in the United
      States; <U>provided</U>, <U>however</U>, that, if the Securities of a
      series are payable in Dollars, payment of principal of (and premium, if
      any) and interest, if any, on any Bearer Security shall be made at the
      office of the Company&#146;s Paying Agent in The City of New York, if (but only
      if) payment in Dollars of the full amount of such principals, premium or
      interest, as the case may be, at all offices or agencies outside the
      United States maintained for such purpose by the Company in accordance
      with this Indenture is illegal or effectively precluded by exchange
      controls or other similar restrictions.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>The Company may also from time to time designate one or
      more other offices or agencies where the Securities of one or more series
      may be presented or surrendered for any or all such purposes and may from
      time to time rescind any such designation; <U>provided</U>,
      <U>however</U>, that no such designation or rescission shall in any manner
      relieve the Company of its obligation to maintain an office or agency in
      accordance with the requirements set forth above for securities of any
      series for such purposes. The Company will give prompt written notice to
      the Trustees of any such designation or rescission and of any change in
      the location of any such other office or agency. Unless otherwise
      specified with respect to any Securities as contemplated by Section 3.01
      with respect to a series of Securities, the Company hereby initially
      appoints the U.S. Trustee at its Corporate Trust office as Paying Agent in
      such city and as its agent to receive all such presentations, surrenders,
      notices and demands.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>Unless otherwise specified with respect to any Securities
      pursuant to Section 3.01, if and so long as the Securities of any series
      (i) are denominated in a Currency other than Dollars or (ii) may be
      payable in a Currency other than Dollars, or so long as it is required
      under any other provision of the Indenture, then the Company will maintain
      with respect to each such series of Securities, or as so required, at
      least one Exchange Rate Agent.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
11.03</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Money for Securities Payments to Be Held in Trust</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the Company shall at any time
act as its own Paying Agent with respect to any series of Securities and any
related coupons, it will, on or before each due date of the principal of (or
premium, if any) or interest, if any, on any of the Securities of that series,
segregate and hold in trust for the benefit of the Persons entitled thereto a
sum in the Currency in which the Securities of such series are payable (except
as otherwise specified pursuant to Section 3.01 for the Securities of such
series and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and
3.12(e)) sufficient to pay the principal of (or premium, if any) or interest, if
any, on Securities of such series so becoming due until such sums shall be paid
to such Persons or otherwise disposed of as herein provided and will promptly
notify the Trustees of its action or failure so to act.</P>
<P align=center>- 83 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever the Company shall have
one or more Paying Agents for any series of Securities and any related coupons,
it will, at least three Business Days in advance of the due date of the
principal of (or premium, if any) or interest, if any, on any Securities of that
series, deposit with a Paying Agent a sum (in the Currency described in the
preceding paragraph) sufficient to pay the principal (or premium, if any) or
interest, if any, so becoming due, such sum to be held in trust for the benefit
of the Persons entitled to such principal, premium or interest, and (unless such
Paying Agent is such Trustee) the Company will promptly notify the Trustees of
its action or failure so to act.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will cause each
Paying Agent (other than the Trustees) for any series of Securities to execute
and deliver to the Trustees an instrument in which such Paying Agent shall agree
with the Trustees, subject to the provisions of this Section, that such Paying
Agent will:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>hold all sums held by it for the payment of the principal
      of (and premium, if any) and interest, if any, on Securities of such
      series in trust for the benefit of the Persons entitled thereto until such
      sums shall be paid to such Persons or otherwise disposed of as herein
      provided;</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>give the Trustees notice of any default by the Company
      (or any other obligor upon the Securities of such series) in the making of
      any payment of principal of (or premium, if any) or interest, if any, on
      the Securities of such series; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>at any time during the continuance of any such default,
      upon the written request of the Trustees, forthwith pay to the Trustees
      all sums so held in trust by such Paying Agent.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may at any time, for
the purpose of obtaining the satisfaction and discharge of this Indenture or for
any other purpose, pay, or by Company Order direct any Paying Agent to pay, to
the Trustees all sums held in trust by the Company or such Paying Agent, such
sums to be held by the Trustees upon the same trusts as those upon which sums
were held by the Company or such Paying Agent; and, upon such payment by any
Paying Agent to the Trustees, such Paying Agent shall be released from all
further liability with respect to such sums.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as provided in the
Securities of any series, any money deposited with the Trustees or any Paying
Agent, or then held by the Company, in trust for the payment of the principal of
(or premium, if any) or interest, if any, on any Security of any series, or any
coupon appertaining thereto, and remaining unclaimed for two years after such
principal, premium or interest has become due and payable shall be paid to the
Company on Company Request, or (if then held by the Company) shall be discharged
from such trust; and the Holder of such Security or coupon shall thereafter, as
an unsecured general creditor, look only to the Company for payment thereof, and
all liability of the Trustees or such Paying Agent with respect to such trust
money, and all liability of the Company as trustee thereof, shall thereupon
cease; <U>provided</U>, <U>however</U>, that the Trustees or such Paying Agent,
before being required to make any such repayment, may at the expense of the
Company cause to be published once, in an Authorized Newspaper, notice that such
money remains unclaimed and that, after a date specified therein, which shall
not be less than 30 days from the date of such publication, any unclaimed
balance of such money then remaining will be repaid to the Company.</P>
<P align=center>- 84 -</P>
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<P align=justify><STRONG>Section
11.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Statement
as to Compliance</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall deliver to the
Trustees, on or before 120 days after the end of the Company&#146;s fiscal year, an
Officers&#146; Certificate stating that a review of the activities of the Company
during such fiscal year has been made under the supervision of the signing
officers with a view to determining whether the Company has kept, observed,
performed and fulfilled its obligations under this Indenture, and further
stating, as to each such officer signing such certificate, that the Company has
kept, observed, performed and fulfilled each and every covenant contained in
this Indenture and is not in default in the performance or observance of any of
the terms, provisions and conditions hereof (or, if a Default or Event of
Default shall have occurred and is continuing, describing all such Defaults or
Events of Default of which he or she may have knowledge and what action the
Company is taking or propose to take with respect thereto). The Company shall
deliver to the Trustees upon demand evidence in such form as the Trustees may
require as to compliance by the Company with any condition or covenant of the
Company set out herein relating to any action required or permitted to be taken
by the Company under this Indenture or as a result of any obligation imposed by
this Indenture. For purposes of this Section, such compliance shall be
determined without regard to any period of grace or requirement of notice under
this Indenture.</P>
<P align=justify><STRONG>Section
11.05&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Additional
Amounts</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If specified pursuant to Section
3.01, all payments made by or on behalf of the Company under or with respect to
the Canadian Securities of any series will be made free and clear of and without
withholding or deduction for or on account of any present or future tax, duty,
levy, impost, assessment or other government charge (including penalties,
interest and other liabilities related thereto) imposed or levied by or on
behalf of the Government of Canada or of any province or territory thereof or by
any authority or agency therein or thereof having power to tax (&#147;Canadian
Taxes&#148;), unless the Company is required to withhold or deduct Canadian Taxes by
law or by the interpretation or administration thereof by the relevant
government authority or agency. If the Company is so required to withhold or
deduct any amount for or on account of Canadian Taxes from any payment made
under or with respect to the Canadian Securities, the Company will pay as
additional interest such additional amounts (&#147;Additional Amounts&#148;) as may be
necessary so that the net amount received by each Holder after such withholding
or deduction (including with respect to Additional Amounts) will not be less
than the amount the Holder would have received if such Canadian Taxes had not
been withheld or deducted; <U>provided</U>, <U>however</U>, that no Additional
Amounts will be payable with respect to a payment made to a Holder (an &#147;Excluded
Holder&#148;) if the Holder or the beneficial owner of some or all of the payment to
the Holder (i) does not deal at arm&#146;s length with the Company (for purposes of
the <I>Income Tax Act </I>(Canada)) at the time of the making of such payment,
(ii) is subject to such Canadian Taxes by reason of its failure to comply with
any certification, identification, information, documentation or other reporting
requirement if compliance is required by law, regulation, administrative
practice or an applicable treaty as a precondition to exemption from, or a
reduction in the rate of deduction or withholding of, such Canadian Taxes, (iii)
is subject to such Canadian Taxes by reason of its being a resident, domicile or
national of, or engaged in business or maintaining a permanent establishment or
other physical presence in or otherwise having some connection with Canada or
any province or territory thereof otherwise than by the mere holding of Canadian
Securities or the receipt of payments thereunder, or (iv) is subject to such Canadian Taxes because it is not entitled to the benefit
of an otherwise applicable tax treaty by reason of its legal nature. The Company
will make such withholding or deduction and remit the full amount deducted or
withheld to the relevant authority as and when required in accordance with
applicable law. The Company will pay all taxes, interest and other liabilities
which arise by virtue of any failure of the Company to withhold, deduct and
remit to the relevant authority on a timely basis the full amounts required in
accordance with applicable law. The Company will furnish to the Holders, within
60 days after the date the payment of any Canadian Taxes is due pursuant to
applicable law, certified copies of tax receipts or other satisfactory evidence
of such payment by the Company.</P>
<P align=center>- 85 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If as a result of any payment by
or on behalf of the Company under or with respect to the Canadian Securities of
any series, any Holder is required to pay tax under Part XIII of the <I>Income
Tax Act </I>(Canada) or any successor provisions in circumstances where the
Company is not required to make a withholding with respect to such tax (for
instance, in accordance with Section 803 of the Regulations to the <I>Income Tax
Act </I>(Canada)), then the Company will, upon demand by any such Holder,
indemnify such Holder (other than a Holder (i) with which the Company does not
deal at arm&#146;s length (for the purposes of the <I>Income Tax Act </I>(Canada)) at
the time of the making of such payment; (ii) which is subject to such Canadian
Taxes by reason of its failure to comply with any certification, identification,
information, documentation or other reporting requirement if compliance is
required by law, regulation, administrative practice or an applicable treaty as
a precondition to exemption from, or a reduction in the rate of deduction or
withholding of, such Canadian Taxes for the payment of any such taxes, together
with any interest, penalties and expenses in connection therewith, or (iii)
which is subject to such Canadian Taxes because it is not entitled to the
benefit of an otherwise applicable tax treaty by reason of the legal nature of
such Holder). All such amounts shall be payable by the Company on demand and
shall bear interest at the rate borne by the Canadian Securities, calculated
from the date incurred by the Holder to the date paid by the Company. All such
amounts shall be Additional Amounts for the purpose of this Indenture.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly following the Company
becoming aware that the Company will be obligated to pay Additional Amounts with
respect to a payment hereunder, the Company will deliver to the Trustees and to
any Paying Agent an Officers&#146; Certificate stating the fact that such Additional
Amounts will be payable and the amounts so payable. References in this Indenture
to interest, principal or other payments made or to be made by the Company with
respect to the Candian Securities shall be deemed also to refer to the payment
of Additional Amounts provided for in Section 3.01 that may be payable in
respect thereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The provisions of this Section
11.05 shall survive any termination, defeasance or discharge of this
Indenture.</P>
<P align=justify><STRONG>Section
11.06&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Payment
of Taxes and Other Claims</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will pay or discharge
or cause to be paid or discharged, before the same shall become delinquent, (1)
all material taxes, assessments and governmental charges levied or imposed upon
the Company or any Subsidiary or upon the income, profits or property of the
Company or any Subsidiary, and (2) all material lawful claims for labor,
materials and supplies which, if unpaid, might by law become a Lien upon any
property or assets of the Company or any Subsidiary; <u>provided</u>, <u>however</u>, that the
Company shall not be required to pay or discharge or cause to be paid or
discharged any such tax, assessment, charge or claim whose amount, applicability
or validity is being contested in good faith by appropriate proceedings.</P>
<P align=center>- 86 -</P>
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<P align=justify><STRONG>Section
11.07&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Corporate
Existence</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Article Nine, the
Company will do or cause to be done all things necessary to preserve and keep in
full force and effect its corporate existence and the rights (charter and
statutory) and franchises of the Company; <U>provided</U>, <U>however</U>, that
the Company shall not be required to preserve any such right or franchise if the
Company shall determine that the preservation thereof is no longer desirable in
the conduct of the business of the Company and its Subsidiaries as a whole and
that the loss thereof is not disadvantageous in any material respect to the
Holders.</P>
<P align=justify><STRONG>Section
11.08</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Waiver of Certain Covenants</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company may, with respect to
any series of Securities, omit in any particular instance to comply with any
term, provision or condition which affects such series set forth in Section
11.06 and Section 11.07, or, as specified pursuant to Section 3.01(17) for
Securities of such series, in any covenants of the Company added to this Article
pursuant to Section 3.01(16) or Section 3.01(17) in connection with Securities
of such series, if before the time for such compliance the Holders of at least a
majority in principal amount of all Outstanding Securities of any series, by Act
of such Holders, waive such compliance in such instance with such term,
provision or condition, but no such waiver shall extend to or affect such term,
provision or condition except to the extent so expressly waived, and, until such
waiver shall become effective, the obligations of the Company and the duties of
the Trustees to Holders of Securities of such series in respect of any such
term, provision or condition shall remain in full force and effect.</P>
<P align=center>ARTICLE TWELVE <BR>REDEMPTION OF SECURITIES</P>
<P align=justify><STRONG>Section
12.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Applicability
of Article</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series which
are redeemable before their Stated Maturity shall be redeemable in accordance
with the terms of such Securities and (except as otherwise specified as
contemplated by Section 3.01 for Securities of any series) in accordance with
this Article.</P>
<P align=justify><STRONG>Section
12.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Election
to Redeem; Notice to Trustees</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The election of the Company to
redeem any securities shall be evidenced by or pursuant to a Board Resolution.
In case of any redemption at the election of the Company, the Company shall, at
least 60 days prior to the Redemption Date fixed by the Company (unless a
shorter notice shall be satisfactory to the Trustees), notify the Trustees of
such Redemption Date and of the principal amount of Securities of such series to
be redeemed and shall deliver to the Trustees such documentation and records as
shall enable the Trustees to select the Securities to be redeemed pursuant to
Section 12.03. In the case of any redemption of Securities prior to the
expiration of any restriction on such redemption provided in the terms of such
Securities or elsewhere in this Indenture, the Company shall furnish to the
Trustees an Officers&#146; Certificate evidencing compliance with such
restriction.</P>
<P align=center>- 87 -</P>
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<P align=justify><STRONG>Section
12.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Selection
by Trustees of Securities to Be Redeemed </STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If less than all the Securities
of any series are to be redeemed, the particular Securities to be redeemed shall
be selected not more than 60 days prior to the Redemption Date by the Trustees,
from the Outstanding Securities of such series not previously called for
redemption, by such method as the Trustees shall deem fair and appropriate and
which may provide for the selection for redemption of portions of the principal
of Securities of such series; <U>provided</U>, <U>however</U>, that no such
partial redemption shall reduce the portion of the principal amount of a
Security not redeemed to less than the minimum authorized denomination for
Securities of such series established pursuant to Section 3.01.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Trustees shall promptly
notify the Company in writing of the Securities selected for redemption and, in
the case of any Securities selected for partial redemption, the principal amount
thereof to be redeemed.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For all purposes of this
Indenture, unless the context otherwise requires, all provisions relating to the
redemption of Securities shall relate, in the case of any Security redeemed or
to be redeemed only in part, to the portion of the principal amount of such
Security which has been or is to be redeemed.</P>
<P align=justify><STRONG>Section
12.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Notice
of Redemption</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as
contemplated by Section 3.01, notice of redemption shall be given in the manner
provided for in Section 1.06 not less than 30 nor more than 60 days prior to the
Redemption Date, to each Holder of Securities to be redeemed. Failure to give
notice in the manner provided in Section 1.06 to the Holder of any Securities
designated for redemption as a whole or in part, or any defect in the notice to
any such Holder, shall not affect the validity of the proceedings for the
redemption of any other Securities or portion thereof.</P>
<P style="MARGIN-LEFT: 5%" align=justify>All notices of redemption shall
state:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>the Redemption Date,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>the Redemption Price and the amount of accrued interest
      to the Redemption Date payable as provided in Section 12.06, if
  any,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>if less than all the Outstanding Securities of any series
      are to be redeemed, the identification (and, in the case of partial
      redemption, the principal amounts) of the particular Securities to be
      redeemed,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>in case any Security is to be redeemed in part only, the
      notice which relates to such Security shall state that on and after the
      Redemption Date, upon surrender of such Security, the holder will receive,
      without charge, a new Security or Securities of authorized denominations
      for the principal amount thereof remaining
unredeemed,</P></TD></TR></TABLE>
<P align=center>- 88 -</P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>that on the Redemption Date, the Redemption Price and
      accrued interest, if any, to the Redemption Date payable as provided in
      Section 12.06 will become due and payable upon each such Security, or the
      portion thereof, to be redeemed and, if applicable, that interest thereon
      will cease to accrue on and after said date,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>the Place or Places of Payment where such Securities,
      together in the case of Bearer Securities with all coupons appertaining
      thereto, if any, maturing after the Redemption Date, are to be surrendered
      for payment of the Redemption Price and accrued interest, if
any,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>that the redemption is for a sinking fund, if such is the
      case,</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>that, unless otherwise specified in such notice, Bearer
      Securities of any series, if any, surrendered for redemption must be
      accompanied by all coupons maturing subsequent to the Redemption Date or
      the amount of any such missing coupon or coupons will be deducted from the
      Redemption Price unless security or indemnity satisfactory to the Company,
      the Trustees and any Paying Agent is furnished, and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(9) </TD>
    <TD>
      <P align=justify>if Bearer Securities of any series are to be redeemed and
      any Registered Securities of such series are not to be redeemed, and if
      such Bearer Securities may be exchanged for Registered Securities not
      subject to redemption on such Redemption Date pursuant to Section 3.05 or
      otherwise, the last date, as determined by the Company, on which such
      exchanges may be made.</P></TD></TR></TABLE>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of redemption of
Securities to be redeemed at the election of the Company shall be given by the
Company or, at the Company&#146;s request, by the Trustees in the name and at the
expense of the Company.</P>
<P align=justify><STRONG>Section
12.05</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Deposit of Redemption Price</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At least three Business Days
prior to any Redemption Date, the Company shall deposit with a Trustee or with a
Paying Agent (or, if the Company is acting as its own Paying Agent, segregate
and hold in trust as provided in Section 11.03) an amount of money in the
Currency in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 3.01 for the Securities of such series and except,
if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) sufficient
to pay the Redemption Price of, and accrued interest, if any, on, all the
Securities which are to be redeemed on that date.</P>
<P align=justify><STRONG>Section
12.06</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Securities Payable on Redemption Date</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of redemption having been
given as aforesaid, the Securities so to be redeemed shall, on the Redemption
Date, become due and payable at the Redemption Price therein specified in the
Currency in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 3.01 for the Securities of such series and except,
if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e)) (together
with accrued interest, if any, to the Redemption Date), and from and after such
date (unless the Company shall default in the payment of the Redemption Price
and accrued interest, if any) such Securities shall, if the same were
interest-bearing, cease to bear interest and the coupons for such interest
appertaining to any Bearer Securities so to be redeemed, except to the extent
provided below, shall be void. Upon surrender of any such Security for
redemption in accordance with said notice, together with all coupons, if any,
appertaining thereto maturing after the Redemption Date, such Security shall be
paid by the Company at the Redemption Price, together with accrued interest, if
any, to the Redemption Date; <u>provided</u>, <u>however</u>, that installments
of interest on Bearer Securities whose Stated Maturity is on or prior to the
Redemption Date shall be payable only at an office or agency located outside the
United States (except as otherwise provided in Section 11.02) and, unless
otherwise specified as contemplated by Section 3.01, only upon presentation and
surrender of coupons for such interest; and provided further that installments
of interest on Registered Securities whose Stated Maturity is on or prior to the
Redemption Date shall be payable to the Holders of such Securities, or one or
more Predecessor Securities, registered as such at the close of business on the
relevant Record Dates according to their terms and the provisions of Section
3.07.</P>
<P align=center>- 89 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Bearer Security
surrendered for redemption shall not be accompanied by all appurtenant coupons
maturing after the Redemption Date, such Security may be paid after deducting
from the Redemption Price an amount equal to the face amount of all such missing
coupons, or the surrender of such missing coupon or coupons may be waived by the
Company and the Trustees if there be furnished to them such security or
indemnity as they may require to save each of them and any Paying Agent
harmless. If thereafter the Holder of such Security shall surrender to the
Trustees or any Paying Agent any such missing coupon in respect of which a
deduction shall have been made from the Redemption Price, such Holder shall be
entitled to receive the amount so deducted; <U>provided</U>, <U>however</U>,
that interest represented by coupons shall be payable only at an office or
agency located outside the United States (except as otherwise provided in
Section 11.02) and, unless otherwise specified as contemplated by Section 3.01,
only upon presentation and surrender of those coupons.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Security called for
redemption shall not be so paid upon surrender thereof for redemption, the
principal (and premium, if any) shall, until paid, bear interest from the
Redemption Date at the rate of interest or Yield to Maturity (in the case of
original Issue Discount Securities) set forth in such Security.</P>
<P align=justify><STRONG>Section
12.07&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Securities
Redeemed in Part</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Security which is to be
redeemed only in part (pursuant to the provisions of this Article or of Article
Thirteen) shall be surrendered at a Place of Payment therefor (with, if the
Company or the Trustees so requires, due endorsement by, or a written instrument
of transfer in form satisfactory to the Company and the Trustees duly executed
by, the Holder thereof or such Holder&#146;s attorney duly authorized in writing),
and the Company shall execute, and either Trustee shall authenticate and deliver
to the Holder of such Security without service charge, a new Security or
Securities of the same series, of any authorized denomination as requested by
such Holder, in aggregate principal amount equal to and in exchange for the
unredeemed portion of the principal of the Security so surrendered.</P>
<P align=center>- 90 -</P>
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<P align=justify><STRONG>Section
12.08&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Tax
Redemption</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If specified pursuant to Section
3.01, the Canadian Securities of a series will be subject to redemption at any
time, in whole but not in part, at a redemption price equal to the principal
amount thereof together with accrued and unpaid interest to the date fixed for
redemption, upon the giving of a notice as described below, if in regard to the
Canadian Securities (1) the Company determines that (a) as a result of any
change in or amendment to the laws (or any regulations or rulings promulgated
thereunder) of Canada or of any political subdivision or taxing authority
thereof or therein affecting taxation, or any change in position regarding
application or interpretation of such laws, regulations or rulings (including a
holding by a court of competent jurisdiction), which change or amendment is
announced or becomes effective on or after a date specified pursuant to Section
3.01, if any date is so specified, the Company has or will become obligated to
pay, on the next succeeding date on which interest is due, Additional Amounts
pursuant to Section 11.05 or (b) on or after a date specified pursuant to
Section 3.01, any action has been taken by any taxing authority of, or any
decision has been rendered by a court of competent jurisdiction in, Canada or
any political subdivision or taxing authority thereof or therein, including any
of those actions specified in (a) above, whether or not such action was taken or
decision was rendered with respect to the Company, or any change, amendment,
application or interpretation shall be proposed, which, in any such case, in the
opinion of Counsel to the Company, will result in the Company becoming obligated
to pay, on the next succeeding date on which interest is due, Additional Amounts
with respect to any Security of such series and (2) in any such case, the
Company in its business judgment determines that such obligation cannot be
avoided by the use of reasonable measures available to the Company;
<U>provided</U>, <U>however</U>, that (i) no such notice of redemption may be
given earlier than 90 days prior to the earliest date on which the Company would
be obligated to pay such Additional Amounts were a payment in respect of the
Securities then due, and (ii) at the time such notice of redemption is given,
such obligation to pay such Additional Amounts remains in effect.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that the Company
elects to redeem the Canadian Securities pursuant to the provisions set forth in
the preceding paragraph, the Company shall deliver to the Trustees a
certificate, signed by an authorized officer, stating that the Company is
entitled to redeem the Canadian Securities pursuant to their terms.</P>
<P align=center>ARTICLE THIRTEEN <BR>SINKING FUNDS</P>
<P align=justify><STRONG>Section
13.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Applicability
of Article</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retirements of Securities of any
series pursuant to any sinking fund shall be made in accordance with the terms
of such Securities and (except as otherwise specified as contemplated by Section
3.01 for Securities of any series) in accordance with this Article.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The minimum amount of any sinking
fund payment provided for by the terms of Securities of any series is herein
referred to as a &#147;mandatory sinking fund payment&#148;, and any payment in excess of
such minimum amount provided for by the terms of Securities of any series is
herein referred to as an &#147;optional sinking fund payment&#148;. If provided for by the
terms of Securities of any series, the cash amount of any mandatory sinking fund
payment may be subject to reduction as provided in Section 13.02. Each sinking fund
payment shall be applied to the redemption of Securities of any series as
provided for by the terms of Securities of such series.</P>
<P align=center>- 91 -</P>
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<P align=justify><STRONG>Section
13.02</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Satisfaction of Sinking Fund Payments with Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section 13.03, in lieu
of making all or any part of any mandatory sinking fund payment with respect to
any Securities of a series in cash, the Company may at its option (1) deliver to
the Trustees Outstanding Securities of a series (other than any previously
called for redemption) theretofore purchased or otherwise acquired by the
Company together in the case of any Bearer Securities of such series with all
un-matured coupons appertaining thereto, and/or (2) receive credit for the
principal amount of Securities of such series which have been previously
delivered to the Trustees by the Company or for Securities of such series which
have been redeemed either at the election of the Company pursuant to the terms
of such Securities or through the application of permitted optional sinking fund
payments pursuant to the terms of such Securities, in each case in satisfaction
of all or any part of any mandatory sinking fund payment with respect to the
Securities of the same series required to be made pursuant to the terms of such
Securities as provided for by the terms of such series; <U>provided</U>,
<U>however</U>, that such Securities have not been previously so credited. Such
Securities shall be received and credited for such purpose by the Trustees at
the Redemption Price specified in such Securities for redemption through
operation of the sinking fund and the amount of such mandatory sinking fund
payment shall be reduced accordingly.</P>
<P align=justify><STRONG>Section
13.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Redemption
of Securities for Sinking Fund</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not less than 60 days prior to
each sinking fund payment date for any series of Securities, the Company will
deliver to the Trustees an Officers&#146; Certificate specifying the amount of the
next ensuing sinking fund payment for that series pursuant to the terms of that
series, the portion thereof, if any, which is to be satisfied by payment of cash
in the Currency in which the Securities of such series are payable (except as
otherwise specified pursuant to Section 3.01 for the Securities of such series
and except, if applicable, as provided in Sections 3.12(b), 3.12(d) and 3.12(e))
and the portion thereof, if any, which is to be satisfied by delivering or
crediting Securities of that series pursuant to Section 13.02 (which Securities
will, if not previously delivered, accompany such certificate) and whether the
Company intends to exercise its right to make a permitted optional sinking fund
payment with respect to such series.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such certificate shall be
irrevocable and upon its delivery the Company shall be obligated to make the
cash payment or payments therein referred to, if any, on or before the next
succeeding sinking fund payment date. In the case of the failure of the Company
to deliver such certificate, the sinking fund payment due on the next succeeding
sinking fund payment date for that series shall be paid entirely in cash and
shall be sufficient to redeem the principal amount of such Securities subject to
a mandatory sinking fund payment without the option to deliver or credit
Securities as provided in Section 13.02 and without the right to make any
optional sinking fund payment, if any, with respect to such series.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not more than 60 days before each
such sinking fund payment date the Trustees shall select the Securities to be
redeemed upon such sinking fund payment date in the manner specified in Section
12.03 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in
Section 12.04. Such notice having been duly given, the redemption of such
Securities shall be made upon the terms and in the manner stated in Section
12.06 and Section 12.07.</P>
<P align=center>- 92 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to any sinking fund payment
date, the Company shall pay to the Trustees or a Paying Agent (or, if the
Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 11.03) in cash a sum equal to any interest that will accrue
to the date fixed for redemption of Securities or portions thereof to be
redeemed on such sinking fund payment date pursuant to this Section.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing,
with respect to a sinking fund for any series of Securities, if at any time the
amount of cash to be paid into such sinking fund on the next succeeding sinking
fund payment date, together with any unused balance of any preceding sinking
fund payment or payments for such series, does not exceed in the aggregate
$100,000, the Trustees, unless requested by the Company, shall not give the next
succeeding notice of the redemption of Securities of such series through the
operation of the sinking fund. Any such unused balance of moneys deposited in
such sinking fund shall be added to the sinking fund payment for such series to
be made in cash on the next succeeding sinking fund payment date or, at the
request of the Company, shall be applied at any time or from time to time to the
purchase of Securities of such series, by public or private purchase, in the
open market or otherwise, at a purchase price for such Securities (excluding
accrued interest and brokerage commissions, for which the Trustees or any Paying
Agent will be reimbursed by the Company) not in excess of the principal amount
thereof.</P>
<P align=center>ARTICLE FOURTEEN <BR>REPAYMENT AT OPTION OF HOLDERS</P>
<P align=justify><STRONG>Section
14.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Applicability
of Article</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayment of Securities of any
series before their Stated Maturity at the option of Holders thereof shall be
made in accordance with the terms of such Securities and (except as otherwise
specified as contemplated by Section 3.01 for Securities of any series) in
accordance with this Article.</P>
<P align=justify><STRONG>Section
14.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Repayment
of Securities</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series subject
to repayment in whole or in part at the option of the Holders thereof will,
unless otherwise provided in the terms of such Securities, be repaid at a price
equal to the principal amount thereof, together with interest, if any, thereon
accrued to the Repayment Date specified in or pursuant to the terms of such
Securities. The Company covenants that at least three Business Days prior to the
Repayment Date it will deposit with a Trustee or with a Paying Agent (or, if the
Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 11.03) an amount of money in the Currency in which the
Securities of such series are payable (except as otherwise specified pursuant to
Section 3.01 for the Securities of such series and except, if applicable, as
provided in Sections 3.12(b), 3.12(d) and 3.12(e)) sufficient to pay the
principal (or, if so provided by the terms of the Securities of any series, a
percentage of the principal) of and (except if the Repayment Date shall be an
Interest Payment Date) accrued interest, if any, on, all the
Securities or portions thereof, as the case may be, to be repaid on such
date.</P>
<P align=center>- 93 -</P>
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<P align=justify><STRONG>Section
14.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Exercise
of Option</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities of any series subject
to repayment at the option of the Holders thereof will contain an &#147;Option to
Elect Repayment&#148; form on the reverse of such Securities. To be repaid at the
option of the Holder, any Security so providing for such repayment, with the
&#147;Option to Elect Repayment&#148; form on the reverse of such Security duly completed
by the Holder (or by the Holder&#146;s attorney duly authorized in writing), must be
received by the Company at the Place of Payment therefor specified in the terms
of such Security (or at such other place or places which the Company shall from
time to time notify the Holders of such Securities) not earlier than 45 days nor
later than 30 days prior to the Repayment Date. If less than the entire
principal amount of such Security is to be repaid in accordance with the terms
of such Security, the principal amount of such Security to be repaid, in
increments of the minimum denomination for Securities of such series, and the
denomination or denominations of the Security or Securities to be issued to the
Holder for the portion of the principal amount of such Security surrendered that
is not to be repaid, must be specified. The principal amount of any Security
providing for repayment at the option of the Holder thereof may not be repaid in
part if, following such repayment, the unpaid principal amount of such Security
would be less than the minimum authorized denomination of Securities of the
series of which such Security to be repaid is a part. Except as otherwise may be
provided by the terms of any Security providing for repayment at the option of
the Holder thereof, exercise of the repayment option by the Holder shall be
irrevocable unless waived by the Company.</P>
<P align=justify><STRONG>Section
14.04</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
When Securities Presented for Repayment Become Due and Payable</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Securities of any series
providing for repayment at the option of the Holders thereof shall have been
surrendered as provided in this Article and as provided by or pursuant to the
terms of such Securities, such Securities or the portions thereof, as the case
may be, to be repaid shall become due and payable and shall be paid by the
Company on the Repayment Date therein specified, and on and after such Repayment
Date (unless the Company shall default in the payment of such Securities on such
Repayment Date) such Securities shall, if the same were interest-bearing, cease
to bear interest and the coupons for such interest appertaining to any Bearer
Securities so to be repaid, except to the extent provided below, shall be void.
Upon surrender of any such Security for repayment in accordance with such
provisions, together with all coupons, if any, appertaining thereto maturing
after the Repayment Date, the principal amount of such Security so to be repaid
shall be paid by the Company, together with accrued interest, if any, to the
Repayment Date; <U>provided</U>, <U>however</U>, that coupons whose Stated
Maturity is on or prior to the Repayment Date shall be payable only at an office
or agency located outside the United States (except as otherwise provided in
Section 11.02) and, unless otherwise specified pursuant to Section 3.01, only
upon presentation and surrender of such coupons; and <U>provided further
</U>that, in the case of Registered Securities, installments of interest, if
any, whose Stated Maturity is on or prior to the Repayment Date shall be payable
to the Holders of such Securities, or one or more Predecessor Securities,
registered as such at the close of business on the relevant Record Dates
according to their terms and the provisions of Section 3.07.</P>
<P align=center>- 94 -</P>
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any Bearer Security
surrendered for repayment shall not be accompanied by all appurtenant coupons
maturing after the Repayment Date, such Security may be paid after deducting
from the amount payable therefor as provided in Section 14.02 an amount equal to
the face amount of all such missing coupons, or the surrender of such missing
coupon or coupons may be waived by the Company and the Trustees if there be
furnished to them such security or indemnity as they may require to save each of
them and any Paying Agent harmless. If thereafter the Holder of such Security
shall surrender to the Trustees or any Paying Agent any such missing coupon in
respect of which a deduction shall have been made as provided in the preceding
sentence, such Holder shall be entitled to receive the amount so deducted;
<U>provided</U>, <U>however</U>, that interest represented by coupons shall be
payable only at an office or agency located outside the United States (except as
otherwise provided in Section 11.02) and, unless otherwise specified as
contemplated by Section 3.01, only upon presentation and surrender of those
coupons.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the principal amount of any
Security surrendered for repayment shall not be so repaid upon surrender
thereof, such principal amount (together with interest, if any, thereon accrued
to such Repayment Date) shall, until paid, bear interest from the Repayment Date
at the rate of interest or Yield to Maturity (in the case of Original Issue
Discount Securities) set forth in such Security.</P>
<P align=justify><STRONG>Section
14.05&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Securities
Repaid in Part</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon surrender of any Registered
Security which is to be repaid in part only, the Company shall execute and
either Trustee shall authenticate and deliver to the Holder of such Security,
without service charge and at the expense of the Company, a new Registered
Security or Securities of the same series, of any authorized denomination
specified by the Holder, in an aggregate principal amount equal to and in
exchange for the portion of the principal of such Security so surrendered which
is not to be repaid.</P>
<P align=center>ARTICLE FIFTEEN<BR>DEFEASANCE AND COVENANT DEFEASANCE</P>
<P align=justify><STRONG>Section
15.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Company&#146;s
Option to Effect Defeasance or Covenant Defeasance</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise specified as
contemplated by Section 3.01 for Securities of any series, the provisions of
this Article shall apply to each series of Securities, and the Company may, at
its option, effect defeasance (as defined below) of the Securities of or within
a series under Section 15.02, or covenant defeasance (as defined below) of or
within a series under Section 15.03 in accordance with the terms of such
Securities and in accordance with this Article.</P>
<P align=left><STRONG>Section
15.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Defeasance
and Discharge</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the Company&#146;s exercise of
the above option applicable to this Section with respect to any Securities of or
within a series, the Company shall be deemed to have been discharged from its
obligations with respect to such Outstanding Securities and any related coupons
on the date the conditions set forth in Section 15.04 are satisfied
(hereinafter, &#147;defeasance&#148;). For this purpose, such defeasance means that the
Company shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding
Securities and any related coupons, which shall thereafter be deemed to be
&#147;Outstanding&#148; only for the purposes of Section 15.05 and the other Sections of
this Indenture referred to in (A) and (B) below, and to have satisfied all its
other obligations under such Securities and any related coupons and this
Indenture insofar as such Securities and any related coupons are concerned (and
the Trustees, at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following which shall survive until
otherwise terminated or discharged hereunder: (A) the rights of Holders of such
Outstanding Securities and any related coupons to receive, solely from the trust
fund described in Section 15.04 and as more fully set forth in such Section,
payments in respect of the principal of (and premium, if any) and interest, if
any, on such Securities and any related coupons when such payments are due, (B)
the Company&#146;s obligations with respect to such Securities under Sections 3.04,
3.05, 3.06, 11.02 and 11.03 and with respect to the payment of Additional
Amounts, if any, on such Securities as contemplated by Section 11.05, (C) the
rights, powers, trusts, duties and immunities of the Trustees hereunder and (D)
this Article. Subject to compliance with this Article, the Company may exercise
its option under this Section notwithstanding the prior exercise of its option
under Section 15.03 with respect to such Securities and any related coupons.</P>
<P align=center>- 95 -</P>
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<P align=justify><STRONG>Section
15.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Covenant
Defeasance</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the Company&#146;s exercise of
the above option applicable to this Section with respect to any Securities of or
within a series, the Company shall be released from its obligations under
Section 11.06 and Section 11.07, and, if specified pursuant to Section 3.01, its
obligations under any other covenant, with respect to such Outstanding
Securities and any related coupons on and after the date the conditions set
forth in Section 15.04 are satisfied (hereinafter, &#147;covenant defeasance&#148;), and
such Securities and any related coupons shall thereafter be deemed not to be
&#147;Outstanding&#148; for the purposes of any direction, waiver, consent or declaration
or Act of Holders (and the consequences of any thereof) in connection with such
covenants, but shall continue to be deemed &#147;Outstanding&#148; for all other purposes
hereunder. For this purpose, such covenant defeasance means that, with respect
to such outstanding Securities and any related coupons, the Company may omit to
comply with and shall have no liability in respect of any term, condition or
limitation set forth in any such covenant, whether directly or indirectly, by
reason of any reference elsewhere herein to any such covenant or by reason of
reference in any such covenant to any other provision herein or in any other
document and such omission to comply shall not constitute a Default or an Event
of Default under clauses (4), (5) or (9) of Section 6.01 or otherwise, as the
case may be, but, except as specified above, the remainder of this Indenture and
such Securities and any related coupons shall be unaffected thereby.</P>
<P align=justify><STRONG>Section
15.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Conditions
to Defeasance or Covenant Defeasance</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following shall be the
conditions to application of either Section 15.02 or Section Section 15.03 to
any Outstanding Securities of or within a series and any related coupons:</P>
<p align=center>- 96 -</p>
<hr style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>The Company shall irrevocably have deposited or caused to
      be deposited with either Trustee (or another trustee satisfying the
      requirements of Section 7.08 who shall agree to comply with the provisions
      of this Article applicable to it) as trust funds in trust for the purpose
      of making the following payments, specifically pledged as security for, and dedicated solely to, the
      benefit of the Holders of such Securities and any related coupons, (A) an
      amount (in such Currency in which such Securities and any related coupons
      are then specified as payable at Stated Maturity), or (B) Government
      Obligations applicable to such Securities (determined on the basis of the
      Currency in which such Securities are then specified as payable at Stated
      Maturity) which through the scheduled payment of principal and interest in
      respect thereof in accordance with their terms will provide, not later
      than one day before the due date of any payment of principal of and
      premium, if any, and interest, if any, under such Securities and any
      related coupons, money in an amount, or (C) a combination thereof,
      sufficient, in the opinion of a nationally recognized firm of independent
      public accountants expressed in a written certification thereof delivered
      to the Trustees, to pay and discharge, and which shall be applied by the
      Trustees (or other qualifying trustee) to pay and discharge, (i) the
      principal of (and premium, if any) and interest, if any, on such
      Outstanding Securities and any related coupons on the Stated Maturity (or
      Redemption Date, if applicable) of such principal (and premium, if any) or
      installment of interest, if any, (ii) any mandatory sinking fund payments
      or analogous payments applicable to such Outstanding Securities and any
      related coupons on the day on which such payments are due and payable in
      accordance with the terms of this Indenture and of such Securities and any
      related coupons, and (iii) all amounts due the Trustees under Section
      7.07; <u>provided </u>that the Trustees shall have been irrevocably
      instructed to apply such money or the proceeds of such Government
      Obligations to said payments with respect to such Securities and any
      related coupons. Before such a deposit, the Company may give to the
      Trustees, in accordance with Section 12.02 hereof, a notice of its
      election to redeem all or any portion of such Outstanding Securities at a
      future date in accordance with the terms of the Securities of such series
      and Article Tweleve hereof, which notice shall be irrevocable. Such
      irrevocable redemption notice, if given, shall be given effect in applying
  the foregoing.</P></TD></TR></TABLE>

<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD >&nbsp;</TD>
    <TD vAlign=top>&nbsp;</TD>
    <TD>&nbsp;</TD>
  </TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>No Default or Event of Default with respect to such
      Securities or any related coupons shall have occurred and be continuing on
      the date of such deposit or, insofar as clauses (7) and (8) of Section
      6.01 are concerned, at any time during the period ending on the 91st day
      after the date of such deposit (it being understood that this condition
      shall not be deemed satisfied until the expiration of such
  period).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>Such defeasance or covenant defeasance shall not result
      in a breach or violation of, or constitute a default under, this Indenture
      or any other material agreement or instrument to which the Company is a
      party or by which it is bound.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>In the case of an election under Section 15.02, the
      Company shall have delivered to the Trustees an Opinion of Counsel in the
      United States stating that (x) the Company has received from, or there has
      been published by, the Internal Revenue Service a ruling, or (y) since the
      date of execution of this Indenture, there has been a change in the
      applicable U.S. federal income tax law, in either case to the effect that,
      and based thereon such opinion shall confirm that, the Holders of
    such Outstanding Securities and any related coupons will not
      recognize income, gain or loss for U.S. federal income tax purposes as a
      result of such defeasance and will be subject to U.S. federal income tax
      on the same amounts, in the same manner and at the same times as would
    have been the case if such defeasance had not occurred.</P></TD></TR></TABLE>
<P align=center>- 97 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(5) </TD>
    <TD>
      <P align=justify>In the case of an election under Section 15.03, the
      Company shall have delivered to the Trustees an Opinion of Counsel in the
      United States to the effect that the Holders of such Outstanding
      Securities will not recognize income, gain or loss for U.S. federal income
      tax purposes as a result of such covenant defeasance and will be subject
      to U.S. federal income tax on the same amounts, in the same manner and at
      the same times as would have been the case if such covenant defeasance had
      not occurred.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(6) </TD>
    <TD>
      <P align=justify>The Company shall have delivered to the Trustees an
      Opinion of Counsel in Canada or a ruling from the Canada Revenue Agency to
      the effect that the Holders of such Outstanding Securities will not
      recognize income, gain or loss for Canadian federal, provincial or
      territorial income tax or other tax purposes as a result of such
      defeasance or covenant defeasance, as applicable, and will be subject to
      Canadian federal, provincial or territorial income tax and other tax on
      the same amounts, in the same manner and at the same times as would have
      been the case had such defeasance or covenant defeasance, as applicable,
      not occurred (and for the purposes of such opinion, such Canadian counsel
      shall assume that Holders of the Securities include Holders who are not
      resident in Canada).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(7) </TD>
    <TD>
      <P align=justify>The Company is not an &#147;insolvent person&#148; within the
      meaning of the Bankruptcy and Insolvency Act (Canada) on the date of such
      deposit or at any time during the period ending on the 91st day after the
      date of such deposit (it being understood that this condition shall not be
      deemed satisfied until the expiration of such period).</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(8) </TD>
    <TD>
      <P align=justify>Notwithstanding any other provisions of this Section,
      such defeasance or covenant defeasance shall be effected in compliance
      with any additional or substitute terms, conditions or limitations in
      connection therewith pursuant to Section 3.01.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(9) </TD>
    <TD>
      <P align=justify>The Company shall have delivered to the Trustees an
      Officers&#146; Certificate and an Opinion of Counsel, each stating that all
      conditions precedent provided for, relating to either the defeasance under
      Section 15.02 or the covenant defeasance under Section 15.03 (as the case
      may be), have been complied with.</P></TD></TR></TABLE>
<BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left><B>Section
      15.05</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Deposited
      Money and Government Obligations to Be Held in Trust;</B> <B>Other
      Miscellaneous Provisions</B> </TD></TR>
  <TR>
    <TD align=left>&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>
      <P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subject to the
      provisions of the last paragraph of Section 11.03, all money and
      Government Obligations (or other property as may be provided pursuant to
      Section 3.01) (including the proceeds thereof) deposited with a Trustee
      (or other qualifying trustee, collectively, for purposes of this Section, the &#147;Trustee&#148;)
pursuant to Section 15.04 in respect of such Outstanding Securities and any
related coupons shall be held in trust and applied by such Trustee, in
accordance with the provisions of such Securities and any related coupons and
this Indenture, to the payment, either directly or through any Paying Agent
(including the Company acting as its own Paying Agent) as such Trustee may
determine, to the Holders of such Securities and any related coupons of all sums
due and to become due thereon in respect of principal (and premium, if any) and
interest, if any, but such money need not be segregated from other funds except
to the extent required by law.</P></TD></TR></TABLE>
<P align=center>- 98 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified with
respect to any Security pursuant to Section 3.01, if, after a deposit referred
to in Section 15.04 has been made, (a) the Holder of a Security in respect of
which such deposit was made is entitled to, and does, elect pursuant to Section
3.12(b) or the terms of such Security to receive payment in a Currency other
than that in which the deposit pursuant to Section 15.04 has been made in
respect of such Security, or (b) a Conversion Event occurs as contemplated in
Section 3.12(d) or 3.12(e) or by the terms of any Security in respect of which
the deposit pursuant to Section 15.04 has been made, the indebtedness
represented by such Security and any related coupons shall be deemed to have
been, and will be, fully discharged and satisfied through the payment of the
principal of (and premium, if any) and interest, if any, on such Security as
they become due out of the proceeds yielded by converting (from time to time as
specified below in the case of any such election) the amount or other property
deposited in respect of such Security into the Currency in which such Security
becomes payable as a result of such election or Conversion Event based on the
applicable Market Exchange Rate for such Currency in effect on the third
Business Day prior to each payment date, except, with respect to a Conversion
Event, for such Currency in effect (as nearly as feasible) at the time of the
Conversion Event.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall pay and
indemnify such Trustee against any tax, fee or other charge imposed on or
assessed against the Government Obligations deposited pursuant to Section 15.04
or the principal and interest received in respect thereof other than any such
tax, fee or other charge which by law is for the account of the Holders of such
Outstanding Securities and any related coupons.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anything in this Article to the
contrary notwithstanding, such Trustee shall deliver or pay to the Company from
time to time upon Company Request any money or Government Obligations (or other
property and any proceeds therefrom) held by it as provided in Section 15.04
which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to such
Trustee, are in excess of the amount thereof which would then be required to be
deposited to effect an equivalent defeasance or covenant defeasance, as
applicable, in accordance with this Article.</P>
<P align=justify><STRONG>Section
15.06&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Reinstatement</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a Trustee or any Paying Agent
is unable to apply any money in accordance with Section 15.05 by reason of any
order or judgment of any court or governmental authority enjoining, restraining
or otherwise prohibiting such application, then the Company&#146;s obligations under
this Indenture and such Securities and any related coupons shall be revived and
reinstated as though no deposit had occurred pursuant to Section 15.02 or
Section 15.03, as the case may be, until such time as such Trustee or Paying Agent is
permitted to apply all such money in accordance with Section 15.05;
<u>provided</u>, <u>however</u>, that if the Company makes any payment of
principal of (or premium, if any) or interest, if any, on any such Security or
any related coupon following the reinstatement of its obligations, the Company
shall be subrogated to the rights of the Holders of such Securities and any
related coupons to receive such payment from the money held by such Trustee or
Paying Agent.</P>
<P align=center>- 99 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>ARTICLE SIXTEEN<BR>MEETINGS OF HOLDERS OF SECURITIES</P>
<P align=justify><STRONG>Section
16.01&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Purposes
for Which Meetings May Be Called</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If Securities of a series are
issuable as Bearer Securities, a meeting of Holders of Securities of such series
may be called at any time and from time to time pursuant to this Article to
make, give or take any request, demand, authorization, direction, notice,
consent, waiver or other action provided by this Indenture to be made, given or
taken by Holders of Securities of such series.</P>
<P align=justify><STRONG>Section
16.02&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Call,
Notice and Place of Meetings</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>The Trustees may at any time call a meeting of Holders of
      Securities of any series for any purpose specified in Section 16.01, to be
      held at such time and at such place in the City of New York, in Toronto or
      in Vancouver as the Trustees shall determine. Notice of every meeting of
      Holders of Securities of any series, setting forth the time and the place
      of such meeting and in general terms the action proposed to be taken at
      such meeting, shall be given, in the manner provided for in Section 1.06,
      not less than 21 nor more than 180 days prior to the date fixed for the
      meeting.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>In case at any time the Company, pursuant to a Board
      Resolution, or the Holders of at least 10% in principal amount of the
      outstanding Securities of any series shall have requested the Trustees to
      call a meeting of the Holders of Securities of such series for any purpose
      specified in Section 16.01, by written request setting forth in reasonable
      detail the action proposed to be taken at the meeting, and the Trustees
      shall not have made the first publication of the notice of such meeting
      within 21 days after receipt of such request or shall not thereafter
      proceed to cause the meeting to be held as provided herein, then the
      Company or the Holders of Securities of such series in the amount above
      specified, as the case may be, may determine the time and the place in The
      City of New York, in Toronto or in Vancouver for such meeting and may call
      such meeting for such purposes by giving notice thereof as provided in
      paragraph (1) of this Section.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
16.03&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Persons
Entitled to Vote at Meetings</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To be entitled to vote at any
meeting of Holders of Securities of any series, a Person shall be (1) a Holder
of one or more Outstanding Securities of such series, or (2) a Person appointed
by an instrument in writing as proxy for a Holder or Holders of one or more
Outstanding Securities of such series by such Holder of Holders. The only
Persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of
any series shall be the Persons entitled to vote at such meeting and their
counsel, any representatives of the Trustees and their counsel and any
representatives of the Company and its counsel.</P>
<P align=center>- 100 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_107></A>
<P align=justify><STRONG>Section
16.04&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Quorum;
Action</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Persons entitled to vote a
majority in principal amount of the Outstanding Securities of a series shall
constitute a quorum for a meeting of Holders of Securities of such series;
<U>provided</U>, <U>however</U>, that, if any action is to be taken at such
meeting with respect to a consent or waiver which this Indenture expressly
provides may be given by the Holders of not less than a specified percentage in
principal amount of the outstanding Securities of a series, the Persons entitled
to vote such specified percentage in principal amount of the Outstanding
Securities of such series shall constitute a quorum. In the absence of a quorum
within 30 minutes of the time appointed for any such meeting, the meeting shall,
if convened at the request of Holders of Securities of such series, be
dissolved. In any other case the meeting may be adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned
meeting, such adjourned meeting may be further adjourned for a period of not
less than 10 days as determined by the chairman of the meeting prior to the
adjournment of such adjourned meeting. Notice of the reconvening of any
adjourned meeting shall be given as provided in Section 16.02, except that such
notice need be given only once not less than five days prior to the date on
which the meeting is scheduled to be reconvened. Notice of the reconvening of
any adjourned meeting shall state expressly the percentage, as provided above,
of the principal amount of the outstanding Securities of such series which shall
constitute a quorum.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the foregoing, at the
reconvening of any meeting adjourned for lack of a quorum the Persons entitled
to vote 25% in principal amount of the Outstanding Securities at the time shall
constitute a quorum for the taking of any action set forth in the notice of the
original meeting.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as limited by the proviso
to Section 10.02, any resolution presented to a meeting or adjourned meeting
duly reconvened at which a quorum is present as aforesaid may be adopted by the
affirmative vote of the Holders of not less than a majority in principal amount
of the outstanding Securities of such series who have casted their votes;
<U>provided</U>, <U>however</U>, that, except as limited by the proviso to
Section 10.02, any resolution with respect to any request, demand,
authorization, direction, notice, consent, waiver or other action which this
Indenture expressly provides may be made, given or taken by the Holders of a
specified percentage, which is less than a majority, in principal amount of the
Outstanding Securities of a series may be adopted at a meeting or an adjourned
meeting duly reconvened and at which a quorum is present as aforesaid by the
affirmative vote of the Holders of not less than such specified percentage in
principal amount of the Outstanding Securities of such series.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any resolution passed or decision
taken at any meeting of Holders of Securities of any series duly held in
accordance with this Section shall be binding on all the Holders of Securities
of such series and the related coupons, whether or not present or represented at
the meeting.</P>
<P align=center>- 101 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing
provisions of this Section, if any action is to be taken at a meeting of Holders
of Securities of any series with respect to any request, demand, authorization,
direction, notice, consent, waiver or other action that this Indenture expressly
provides may be made, given or taken by the Holders of a specified percentage in
principal amount of all Outstanding Securities affected thereby, or of the
Holders of such series and one or more additional series:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(i) </TD>
    <TD>
      <P align=justify>there shall be no minimum quorum requirement for such
      meeting; and</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(ii) </TD>
    <TD>
      <P align=justify>the principal amount of the Outstanding Securities of
      such series that vote in favor of such request, demand, authorization,
      direction, notice, consent, waiver or other action shall be taken into
      account in determining whether such request, demand, authorization,
      direction, notice, consent, waiver or other action has been made, given or
      taken under this Indenture.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
16.05</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Determination of Voting Rights; Conduct and Adjournment of Meetings</STRONG></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD width="5%"  >&nbsp;</TD>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Notwithstanding any provisions of this Indenture, the
      Trustees may make such reasonable regulations as the Trustees may deem
      advisable for any meeting of Holders of Securities of a series in regard
      to proof of the holding of Securities of such series and of the
      appointment of proxies and in regard to the appointment and duties of
      inspectors of votes, the submission and examination of proxies,
      certificates and other evidence of the right to vote, and such other
      matters concerning the conduct of the meeting as the Trustees shall deem
      appropriate. Except as otherwise permitted or required by any such
      regulations, the holding of Securities shall be proved in the manner
      specified in Section 1.04 and the appointment of any proxyholder shall be
      proved in the manner specified in Section 1.04 or by having the signature
      of the person executing the proxy witnessed or guaranteed by any trust
      company, bank or banker authorized by Section 1.04 to certify to the
      holding of Bearer Securities. Such regulations may provide that written
      instruments appointing proxyholders, regular on their face, may be
      presumed valid and genuine without the proof specified in Section 1.04 or
      other proof.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>The Trustees shall, by an instrument in writing appoint a
      temporary chairman of the meeting, unless the meeting shall have been
      called by the Company or by Holders of Securities as provided in Section
      16.02, in which case the Company or the Holders of Securities of the
      series calling the meeting, as the case may be, shall in like manner
      appoint a temporary chairman. A permanent chairman and a permanent
      secretary of the meeting shall be elected by vote of the Persons entitled
      to vote a majority in principal amount of the Outstanding Securities of
      such series represented at the meeting.</P></TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>At any meeting each Holder of a Security of such series
      or proxy shall be entitled to one vote for each $1,000 principal amount of
      Outstanding Securities of such series held or represented by him
      (determined as specified in the definition of &#147;Outstanding&#148; in Section 1.01); <u>provided</u>, <u>however</u>, that no vote shall be cast or counted at any meeting in
      respect of any Security challenged as not Outstanding and ruled by the
      chairman of the meeting to be not Outstanding. The chairman of the meeting
      shall have no right to vote, except as a Holder of a Security of such
  series or a proxy.</P></TD></TR></TABLE>
<P align=center>- 102 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_109></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD vAlign=top width="5%">(4) </TD>
    <TD>
      <P align=justify>Any meeting of Holders of Securities of any series duly
      called pursuant to Section 16.02 at which a quorum is present may be
      adjourned from time to time by Persons entitled to vote a majority in
      principal amount of the Outstanding Securities of such series represented
      at the meeting; and the meeting may be held as so adjourned without
      further notice.</P></TD></TR></TABLE>
<P align=justify><STRONG>Section
16.06</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>
Counting Votes and Recording Action of Meetings</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The vote upon any resolution
submitted to any meeting of Holders of Securities of any series shall be by
written ballots on which shall be subscribed the signatures of the Holders of
Securities of such series or of their representatives by proxy and the principal
amounts and serial numbers, if any, of the Outstanding Securities of such series
held or represented by them. The permanent chairman of the meeting shall appoint
two inspectors of votes who shall count all votes cast at the meeting for or
against any resolution and who shall make and file with the secretary of the
meeting their verified written reports in duplicate of all votes cast at the
meeting. A record, at least in duplicate, of the proceedings of each meeting of
Holders of Securities of any series shall be prepared by the secretary of the
meeting and there shall be attached to said record the original reports of the
inspectors of votes on any vote by ballot taken thereat and affidavits by one or
more persons having knowledge of the facts setting forth a copy of the notice of
the meeting and showing that said notice was given as provided in Section 16.02
and, if applicable, Section 16.04. Each copy shall be signed and verified by the
affidavits of the permanent chairman and secretary of the meeting and one such
copy shall be delivered to the Company, and another to the Trustees to be
preserved by the Trustees, the latter to have attached thereto the ballots voted
at the meeting. Any record so signed and verified shall be conclusive evidence
of the matters therein stated.</P>
<P align=justify><STRONG>Section
16.07&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Waiver
of Jury Trial</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and the
Trustee hereby irrevocably waives, to the fullest extent permitted by applicable
law, any and all right to trial by jury in any legal proceeding arising out of
or relating to this Indenture, the Securities or the transactions contemplated
hereby.</P>
<P align=justify><STRONG>Section
16.08&nbsp;</STRONG>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<STRONG>Counterparts</STRONG></P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indenture may be executed in
any number of counterparts (either by facsimile or by original manual
signature), each of which so executed shall be deemed to be an original, but all
such counterparts shall together constitute but one and the same Indenture.</P>
<P align=center>- 103 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_110></A>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties
hereto have caused this Indenture to be duly executed, and their respective
corporate seals to be hereunto affixed and attested, all as of the day and year
first above written.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>TASEKO MINES LIMITED </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Name: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Title: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>&#149;, as U.S. Trustee </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Name: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Title: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="48%" colSpan=2>&#149;, as Canadian Trustee </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Name: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Title: </TD>
    <TD align=left width="43%">Authorized Signing Officer </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="5%">&nbsp; </TD>
    <TD width="43%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Name: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="43%">&nbsp;
    </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="5%">Title: </TD>
    <TD align=left width="43%">Authorized Signing Officer </TD></TR></TABLE>
<P align=center>- 104 -</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
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<P align=center>EXHIBIT A</P>
<P align=center>FORMS OF CERTIFICATION</P>
<P align=center>A-1</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_112></A>
<P align=center>EXHIBIT A-1</P>
<P align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FORM OF CERTIFICATE TO BE GIVEN BY
<BR>PERSON ENTITLED TO RECEIVE BEARER SECURITY<BR>OR TO OBTAIN INTEREST PAYABLE
PRIOR <BR>TO THE EXCHANGE DATE</P>
<P align=center>CERTIFICATE</P>
<P align=center>TASEKO MINES LIMITED</P>
<P align=center>_____% Notes due _________________</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is to certify that as of the
date hereof, and except as set forth below, the above-captioned Securities held
by you for our account (i) are owned by any person(s) that is not a citizen or
resident of the United States; a corporation or partnership (including any
entity treated as a corporation or partnership for United States Federal income
tax purposes) created or organized in or under the laws of the United States,
any state thereof or the District of Columbia unless, in the case of a
partnership, Treasury Regulations provide otherwise; any estate whose income is
subject to United States Federal income tax regardless of its source or; a trust
if (A) a United States court can exercise primary supervision over the trust&#146;s
administration and one or more United States persons are authorized to control
all substantial decisions of the trust or (B) it was in existence on August 20,
1996 and has a valid election in effect under applicable Treasury Regulations to
be treated as a United States person (&#147;United States persons(s)&#148;), (ii) are
owned by United States person(s) that are (a) foreign branches of United States
financial institutions (financial institutions, as defined in United States.
Treasury Regulation Section 1.165 -12(c)(1)(v) are herein referred to as
&#147;financial institutions&#148;) purchasing for their own account or for resale, or (b)
United States person(s) who acquired the Securities through foreign branches of
United States financial institutions and who hold the Securities through such
United States financial institutions on the date hereof (and in either case (a)
or (b), each such United States financial institution hereby agrees, on its own
behalf or through its agent, that you may advise Taseko Mines Limited or its
agent that such financial institution will comply with the requirements of
Section 165(j)(3)(A), (B) or (C) of the United States Internal Revenue Code of
1986, as amended, and the regulations thereunder), or (iii) are owned by United
States or foreign financial institution(s) for purposes of resale during the
restricted period (as defined in United States Treasury Regulation Section 1.163
- -5(c)(2)(i)(D)(7)), and, in addition, if the owner is a United States or foreign
financial institution described in clause (iii) above (whether or not also
described in clause (i) or (ii)), this is to further certify that such financial
institution has not acquired the Securities for purposes of resale directly or
indirectly to a United States person or to a person within the United States or
its possessions.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used herein, &#147;United States&#148;
means the United States of America (including the states and the District of
Columbia); and its &#147;possessions&#148; include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.</P>
<P align=center>A-2</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_113></A>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We undertake to advise you
promptly in writing on or prior to the date on which you intend to submit your
certification relating to the above-captioned Securities held by you for our
account in accordance with your operating procedures if any applicable statement
herein is not correct on such date, and in the absence of any such notification
it may be assumed that this certification applies as of such date.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This certificate excepts and does
not relate to U.S. $__________of such interest in the above-captioned Securities
in respect of which we are not able to certify and as to which we understand an
exchange for an interest in a permanent global security or an exchange for and
delivery of definitive Securities (or, if relevant, collection of any interest)
cannot be made until we do so certify.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We understand that this
certificate may be required in connection with certain tax legislation in the
United States. If administrative or legal proceedings are commenced or
threatened in connection with which this certificate is or would be relevant, we
irrevocably authorize you to produce this certificate or a copy thereof to any
interested party in such proceedings.</P>
<P align=justify>Dated:_________________<BR>[To be dated no earlier than <BR>the
15th day prior to (i) the <BR>Exchange Date or (ii) the <BR>relevant Interest
Payment Date <BR>occurring prior to the <BR>Exchange Date, applicable]</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left colSpan=2>[Name of Person Making Certification]    </TD>
  </TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD >&nbsp; </TD>
  <TD >&nbsp;</TD>
  </TR>
  <TR>
    <TD >&nbsp;</TD>
    <TD >&nbsp; </TD>
  <TD >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD width="50%" align=left >&nbsp;</TD>
    <TD width="5%" align=left >By: </TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left >Name: </TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left >&nbsp;</TD>
    <TD align=left >Title: </TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
  </TR></TABLE>
<P align=center>A-3</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_114></A>
<P align=center>EXHIBIT A-2</P>
<P align=center>FORM OF CERTIFICATE TO BE GIVEN BY THE DEPOSITARY <BR>IN
CONNECTION WITH THE EXCHANGE OF A PORTION OF A <BR>TEMPORARY GLOBAL SECURITY OR
TO OBTAIN INTEREST<BR>PAYABLE PRIOR TO THE EXCHANGE DATE</P>
<P align=center>TASEKO MINES LIMITED</P>
<P align=center>____% Notes due ________________</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This is to certify that based
solely on written certifications that we have receive in writing, by electronic
transmission from each of the persons appearing in our records as persons
entitled to a portion of the principal amount set forth below (our &#147;Member
Organizations&#148;) substantially in the form attached hereto, as of the date
hereof, U.S. $__________principal amount of the above-captioned Securities (i)
is owned by any person(s) that is not a citizen or resident of the United
States; a corporation or partnership (including any entity treated as a
corporation or partnership for United States Federal income tax purposes)
created or organized in or under the laws of the United States, any state
thereof or the District of Columbia unless, in the case of a partnership,
Treasury Regulations provide otherwise; any estate whose income is subject to
United States Federal income tax regardless of its source or; a trust if (A) a
United States court can exercise primary supervision over the trust&#146;s
administration and one or more United States persons are authorized to control
all substantial decisions of the trust or (B) it was in existence on August 20,
1996 and has a valid election in effect under applicable Treasury Regulations to
be treated as a United States person (&#147;United States person(s)&#148;), (ii) is owned
by United States person(s) that are (a) foreign branches of United States
financial institutions (financial institutions, as defined in U.S. Treasury
Regulation Section 1.165 -12(c)(1)(v) are herein referred to as &#147;financial
institutions&#148;) purchasing for their own account or for resale, or (b) United
States person(s) who acquired the Securities through foreign branches of United
States financial institutions and who hold the Securities through such United
States financial institutions on the date hereof (and in either case (a) or (b),
each such financial institution has agreed, on its own behalf or through its
agent, that we may advise Taseko Mines Limited or its agent that such financial
institution will comply with the requirements of Section 165(j)(3)(A), (B) or
(C) of the Internal Revenue Code of 1986, as amended, and the regulations
thereunder), or (iii) is owned by United States or foreign financial
institution(s) for purposes of resale during the restricted period (as defined
in United States Treasury Regulation Section 1.163 -5(c)(2)(i)(D)(7)) and, to
the further effect, that financial institutions described in clause (iii) above
(whether or not also described in clause (i) or (ii)) have certified that they
have not acquired the Securities for purposes of resale directly or indirectly
to a United States person or to a person within the United States or its
possessions.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used herein, &#147;United States&#148;
means the United States of America (including the states and the District of
Columbia); and its &#147;possessions&#148; include Puerto Rico, the U.S. Virgin Islands,
Guam, American Samoa, Wake Island and the Northern Mariana Islands.</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_115></A>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We further certify that (i) we
are not making available herewith for exchange (or, if relevant, collection of
any interest) any portion of the temporary global Security representing the
above-captioned Securities excepted in the above-referenced certificates of
member Organizations and (ii) as of the date hereof we have not received any
notification from any of our Member organizations to the effect that the
statements made by such Member organizations with respect to any portion of the
part submitted herewith for exchange (or, if relevant, collection of any
interest) are no longer true and cannot be relied upon as of the date
hereof.</P>
<P align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We understand that this
certification is required in connection with certain tax legislation in the
United States. If administrative or legal proceedings are commenced or
threatened in connection with which this certificate is or would be relevant, we
irrevocably authorize you to produce this certificate or a copy thereof to any
interested party in such proceedings.</P>
<P align=justify>Dated:________________<BR>[To be dated no earlier than <BR>the
15<SUP>th </SUP>day prior to (i) the <BR>Exchange Date or (ii) the <BR>relevant
Interest Payment Date <BR>occurring prior to the <BR>Exchange Date,
applicable]</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

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    <TD align=left colSpan=2>[Insert name of Depositary] </TD>
  </TR>
  <TR>
    <TD  >&nbsp;</TD>
    <TD >&nbsp; </TD>
  <TD >&nbsp;</TD>
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    <TD >&nbsp; </TD>
  <TD >&nbsp;</TD>
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    <TD align=left  >&nbsp;</TD>
    <TD align=left >By: </TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
  </TR>
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    <TD width="5%" align=left >Name: </TD>
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    >&nbsp;</TD>
  </TR>
  <TR vAlign=top>
    <TD align=left  >&nbsp;</TD>
    <TD align=left >Title: </TD>
  <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    >&nbsp;</TD>
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<HR align=center width="100%" color=black noShade SIZE=5>

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-----END PRIVACY-ENHANCED MESSAGE-----
