100 Issued and Outstanding Stock Option Plan The changes in the Class A Voting and Class B Non-Voting Shares since August 31, 1999 are summarized as follows: Under the Company’s Stock Option Plan, which is subject to shareholder approval at the Annual and Special Meeting of shareholders of the Company to be held on December 12, 2000, the Company may grant options to purchase Class B Non-Voting Shares to eligible officers, directors, employees of or consultants to the Company. The maximum number of shares that can be reserved for issuance under the plan is 2,852,670 shares. All options granted are for a term of five to ten years from the grant date. The exercise price of each option equals the market price of the Company’s stock on the date of the grant. Options vest 25% on each of the first, second, third and fourth anniversary dates of the date immediately preceding the date of the grant. A summary of the options outstanding at August 31, 2000 and the changes during the year is presented below: Weighted average Number of exercise  (Canadian dollars except number of options) options price Outstanding, August 31, 1999 – – Granted 950,550 25.48 Exercised – – Cancelled (23,300) 25.25 Outstanding, August 31, 2000 927,250 25.48 Class A Class B (thousands of Canadian dollars Voting Non-Voting except number of shares) Shares # $ Shares # $ Total $ Balance, August 31, 1999 – – – – – Issued on completion of the Arrangement (note 1) 1,907,665 29,546 28,492,618 441,293 470,839 Conversion of Class A Voting to Class B Non-Voting Shares (55,956) (867) 55,956 867 – Issued on acquisition of broadcasting assets (note 3) – – 7,125,000 199,855 199,855 Balance, August 31, 2000 1,851,709 28,679 35,673,574 642,015 670,694