1998/99 Third Quarter Report - January 31, 1999 Balance Sheet (Unaudited) (expressed in United States Dollars) Please follow the link below for a printable copy in Microsoft Excel format: 3rd Qtr. '99 Financials.xls (download may take a few seconds-thanks for your patience!) As of January 31 1999 US$ 1998 US$ Assets    Current Assets Cash and Due from Banks 14,530,183 3,868,235 Investments 2,877,710 2,699,128 Accounts Receivable 5,327,445 5,015,765 Due from Principal Shareholders 94,297 271,243 Inventories 2,573,925 1,940,852 Prepayments 677,232 638,732 26,080,792 14,433,955    Property, Plant and Equipment 125,531,746 107,722,236    Other Assets 2,242,961 2,256,512 Total Assets 153,855,499 124,412,703 Liabilities and Shareholders' Equity    Current Liabilities Current Portion of Long-Term Debt 610,029 673,547 Accounts Payable and Accrued Expenses 4,789,643 4,977,314 Consumers' Deposits 2,980,617 2,891,418 Consumers' Advances for Construction 120,795 158,533 Proposed Dividend 2,311,498 1,951,097 10,812,582 10,651,909    Long-Term Debt 49,954,409 25,340,521    Redeemable Preference Shares 14,015,100 17,015,100 Total Liabilities 74,782,091 53,007,530 Shareholders' Equity    Share Capital 1,572,650 1,538,980    Share Premium 40,337,148 38,201,643    Redetermination Surplus 1,790,240 2,451,595    Retained Earnings 35,373,370 29,212,955 Total Shareholders' Equity 79,073,408 71,405,173 Total Liabilities and Shareholders' Equity 153,855,499 124,412,703 NOTES: 1. These unaudited financial statements include all adjustments which, in management's opinion, are necessary for a fair presentation. 2. The closing rate of exchange on January 31, 1999 as reported by the Bank of Canada for the conversion of U.S. dollars into Canadian dollars was Cdn. $1.5110 per US$1.00. The official exchange rate for the conversion of Cayman Islands dollars into U.S. dollars as determined by the Cayman Islands Currency Board is fixed at CI$1.00 per US$1.20. Thus, the rate of exchange as of January 31, 1999 for conversion of Cayman Islands dollars into Canadian dollars was Cdn. $1.8132 per CI$1.00.