COMPANY DECIDES TO REMAIN WITH FIDELITY

The Company has decided to remain with Fidelity for the recordkeeping, investment and trustee of the employees' retirement investment plans.

In January the Company decided, as part of its fiduciary duties, it would be necessary to conduct an audit of the various vendors and solicit bids from various financial service providers including Fidelity.

The initial research narrowed the review to four vendors:

• The 401(k) Company
• CitiStreet
• JP Morgan
• Fidelity

A further review reduced the selection to Fidelity and the 401(k) Company. The Company received strong proposals from both Companies and mad the decision to remain with Fidelity last week. The decision was relayed to the Unions yesterday afternoon in a conference call conducted by Tom Antonielli, Director of Retirement Plans and International Benefits.

During the call Mr. Antonielli informed the Unions that the decision was a "tough one" and was thoroughly analyzed. Factors that went into the decision to remain with Fidelity included:

• Fidelity's name recognition
• Union concerns
• The minimization of payroll with respect to a transition
• Strong commitment with Fidelity to "win our business every day"
• A commitment by Fidelity to provide better customer service from every level of their organization

Mr. Antonielli also told all the Union representatives that it is both his and the Company's desire to solicit more Union involvement and feedback with respect to our retirement investment plans. To that end, one of the initial steps in that effort will be to set up a meeting with the Unions and Fidelity managers and staff in July to further outline the changes that Fidelity will be making to make our program more efficient and user friendly. 
 
Thank you,