February, 2008 Volume 08-132

By Susan Merivirta, Chief Financial OfficerCorporate News

The work schedule of your Administrative and Accounting Teams has just increased with the arrival of the Deloitte Touche auditors for the annual audit of Coulson Group companies. We are all working hard to provide them with the information that they require, as well as keep our on-going work schedules under control. We will need to understand your priorities, in order to plan your needs around our own workloads. Please be patient; with good communication and mutual respect, everything will be handled to everyone's mutual satisfaction.

Wayne and I were happy to participate in a special Wage Setting Survey being done by the Bank of Canada. Dr. Farid Novin, Senior Economist, with the Bank of Canada, has visited with us before. Last time he came to visit us he brought one of the Deputy Governors of the Bank of Canada with him, and we took them on a tour of the Coulson Manufacturing facilities. This time, Dr. Novin brought Gordon Wilkinson, Regional Economist with him. It is always interesting for us to listen to Dr. Novin explain where the Bank of Canada sees our economy is heading, and Dr. Novin is always very interesting in what we are up to. It seems that we may be quite a unique Canadian Group of Companies.

In the Corporate Executive wing, we are very busy putting together some responses to Requests for Proposals for the Coulson aircraft fleet, including our newest fixed wing additions - the Martin Mars Flying Tankers. Thankfully, Roy Copeland, our Chief Maintenance Engineer at the Tanker Base is being very patient with us, as we develop some costing strategies for the Mars fleet. Just trying to figure out its fuel consumption is proving to be a hard number to arrive at for standard costing purposes. Oh well, give us a little time and a little history and we will get there. Right, Vesna!

It is nice to see some sunny, clear days. Barry Coulson is always giving us weather reports from Down Under in Australia. At least, we have been able to send some return emails on our sunny, clear weather... we just don't mention the temperature difference!

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4890 Cherry Creek Road, Port Alberni, BC, Canada V9Y 8E9 Phone: (250) 723-8118 Fax: (250) 723-7766

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