On July 1st 2002 Guardian Life, Bancassurance Ltd. and N.E.M. (West Indies) Insurance Ltd.requisitioned the Directors of TCL to convene a Special meeting of shareholders to propose changes to the Board of Directors of the Company. By notice dated July 15th 2002, in the daily and regional newspapers, shareholders were informed that the special meeting was being convened for Sept. 2, 2002. By letter dated August 14, 2002, the requisitionists have advised that they wish to withdraw their requisition. Accordingly, the proposed Special Meeting of shareholders scheduled for September 2, 2002 will no longer take place.