Glendale International subject of management take-over

On September 5, 2003, D.M. Firestone sold, through his holding company, G.P. Metal Products Limited, five million common shares of Glendale International Corp., representing approximately 42% of the Glendale issued common shares to a company owned by Mr. Edward Hanna, Chairman, President and Chief Executive Officer of Glendale and five other senior managers. The purchase price for the shares was $26,390,000.

Mr. Firestone and Glendale were represented by Fasken Martineau with a team consisting of David Harley, David Carbonaro, Georges Dubé, Robert Eberschlag and Bo Crnatovic (corporate/securities) and William Bies (tax).