January 20, 1998

To Whom It May Concern,

We are very pleased to write this letter of reference on behalf of Fairles Benefit Services.

Fairles Benefit Services has serviced our Group Benefits program in a thorough and professional manner since 1991.

As part of our regular service effective assistance and advice is provided with respect to claims administration, cost containment and plan design.  In addition, premiums are effectively negotiated on our behalf and renewals explained in a straightforward manner and fully documented.

We know our Benefits Program needs are well looked after and are confident in recommending Fairles Benefit Services.

Yours truly,
PANO CAPA (CANADA) LIMITED

 Denis Laderoute, C.A.
General Manager