Statement from the legal counsel for the Beaverbrook (U.K.) Foundation



    FEDERICTON, NB, Sept. 9 /CNW/ - The Beaverbrook Foundation is obviously
disappointed with the ruling of the appellate panel, but is relieved the
process is over.
    While we stand by the arguments presented during the proceedings with
respect to ownership of the works in dispute, we will respect and abide by the
panel's ruling.
    This has not been a fruitless battle. It was an important case for the
Foundation to bring and it welcomes the return of a third of the disputed
pictures (48) to the ownership of the Foundation.
    The trustees of the Beaverbrook Foundation and the Board of the
Beaverbrook Gallery have had no option but to exhaust the legal process to
establish once and for all the confused and disputed ownership of these
artworks. The trustees have discharged their duties to the fullest extent.
    Immediate next steps relating to the outcome of these proceedings will
now be the subject of discussion by the Foundation's trustees.
    This has been a long and arduous process for both sides, and despite our
differences on the issues at hand, Lord Beaverbrook and the Foundation wish to
express their best wishes for the Gallery, in its important work in offering
education and enjoyment of art to the people of New Brunswick. The Foundation
will continue to respect the great love that the first Lord Beaverbrook had
for New Brunswick and Canada.

    www.beaverbrookfoundation.org




For further information:

For further information: New Century Media Limited, London, UK, Tel: 020
7930 8033; Veritas Communications, Toronto, Canada, Tel: (416) 482-2248

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BEAVERBROOK FOUNDATION

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