MONTREAL, Sept. 11 /CNW Telbec/ - This release is being sent to all
holders of third party asset-backed commercial paper ("Third Party ABCP") on
behalf of the Investor Committee overseeing the proposed restructuring process
of the Third Party ABCP and chaired by Mr. Purdy Crawford.
Ernst & Young Inc. is developing a virtual data room which is expected to
include all material information relating to the Third Party ABCP conduits
listed on Annex A. The materials for inclusion in the virtual data room are
being provided to Ernst & Young Inc. by the sponsors for these conduits.
Ernst & Young Inc. will allow access to the virtual data room to Third
Party ABCP investors ("Investors") beginning on Wednesday September 12, 2007
under the terms set out below. The virtual data room will initially include
general information, such as trust indentures, information memoranda and
administrative agent agreements, on a conduit by conduit and (as applicable)
series by series basis, that has been provided by the different conduit
sponsors. Certain of the requested information may be subject to
confidentiality restrictions, and consequently other third parties may be
required to provide their consent before the conduit sponsors can release this
information for disclosure in the virtual data room. The virtual data room is
limited to information provided by the conduit sponsors; therefore it will be
updated on a regular basis to include additional information provided.
"The Investor Committee feels that opening the virtual data room is an
important step in the process of restructuring the Third Party ABCP," said
Mr. Crawford. "I encourage investors to take the opportunity to obtain the
information made available in the virtual data room, and I further encourage
them to support the Investor Committee in its efforts to restructure the Third
Party ABCP for the benefit of all investors."
Access for Investors to the virtual data room will be provided according
to a data room protocol established by Ernst & Young Inc. In order to receive
access to the virtual data room, each Investor must provide satisfactory
evidence to Ernst & Young Inc. of its ownership of affected Third Party ABCP
and must sign a specified confidentiality agreement.
Investors wishing to access the virtual data room are asked to contact
Ernst & Young Inc., at 514-874-4372 or 1-888-373-6213 to arrange to provide
evidence of ownership and execute the required confidentiality agreement.
Investors who would like further details on the data room protocol and
obtain a copy of the confidentiality agreement can access Ernst & Young Inc.'s
web site at www.ey.com/ca/commercialpaper.
Third Party ABCP Conduits
Newshore Canadian Trust
Selkirk Funding Trust
Skeena Capital Trust
Structured Asset Trust
Structured Investment Trust III
For further information:
For further information: with respect to the virtual data room: Ernst &
Young Inc. (Investors): Pierre Laporte, (514) 874-4372; Roch Landriault,
NATIONAL Public Relations (Media), (514) 843-2345, Cell.: (514) 249-4537