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TALKS ON RENEWING THE FINANCIAL INCENTIVES PLAN ARE OVER

March 5, 2004

After 6 days of intensive negotiation, the union Bargaining Committee came to the conclusion that it had to consult TR members before exercising the power vested in the Committee by CAPE's Constitution to approve the new Plan on behalf of members. The Committee is taking this path considering the
nature of the conditions put forward by the employer for a renewal of the Plan. Relevant documents, detailing the status of discussions and the employer's proposals, will be mailed to members in the next few days, along with a ballot.