To: KC Jones who wrote (419 ) 3/21/2002 7:40:55 PM From: Al Collard Respond to of 1590 AGP-t ...in the news:Arctic Group to delist; Arctic Glacier Income to list Arctic Group Inc (The) AGP Shares issued 36,260,000 Mar 21 close $1.61 Thu 21 Mar 2002 Shares Delisted from TSE Also Arctic Glacier Income Fund (AG) TSE bulletin 2002-0325 At a special meeting held on March 11, 2002, shareholders approved a special resolution converting the Arctic Group Inc. into an income fund trust to be named Arctic Glacier Income Fund on the basis of one trust unit of the fund for every six common shares of the company. It is expected that the plan of arrangement will become effective prior to the opening on Friday, March 22, 2002. If and when the plan of arrangement becomes effective, it is expected that, forthwith thereafter, an additional 9,052,632 trust units of the fund will be issued at $9.50 per unit pursuant to the terms of a prospectus dated March 12, 2002. In anticipation of the plan of arrangement becoming effective and the closing of the prospectus offering occurring, the trust units of the fund will be listed under the trading information set out below at the open on Friday, March 22, 2002, but will be halted from trading until such time that the exchange has been advised that the closings have occurred. A trader note will be issued by the exchange confirming the closings and also confirming a time at which the trust units of the fund (including those to be issued pursuant to the prospectus offering) will commence trading. Should the closings not occur as scheduled, at the open on March 22, 2002, trading will continue in the common shares of the company and such shares will be halted from trading at the time the exchange has been advised of the closings, and, subject to the closings occurring, the common shares will be delisted at the close on March 22, 2002. Should the closings not occur as scheduled, the exchange will issue a trader note advising of this fact. Trust units of the fund Symbol: AG.UN Cusip No: 039675 10 3 It is understood that letters of transmittal were mailed to common shareholders of the company on or about March 12, 2002, requesting them to return the duly completed and executed letter of transmittal together with their certificates representing common shares to Computershare Trust Company of Canada in Toronto in order to receive a certificate representing the trust units of the fund to which they are entitled.