Statement of Changes in
Shareholder's Equity

(in thousands of dollars) Year ended March 31, 2009, with comparative figures for 2008

2009 2008
Share capital
Authorized:
100 Class A common Shares with a par value of $1 each
Issued and outstanding to the Province of Nova Scotia:
100 Common Shares$ -$ -
Retained earnings24,67826,766
Accumulated other comprehensive income:
Balance beginning of year836745
Other comprehensive income (loss) for the year(2,312)91
Balance at the end of year(1,476)836
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Total Shareholder's Equity$ 23,202$ 27,602

See accompanying notes to financial statements