On June 24, 2002, Cemex S.A.,de C.V. (“CEMEX”), through its wholly owned indirect subsidiary, Cetacea investments Limited, presented to Shareholders of TCL a written conditional offer to acquire 249,765,136 issued and fully paid ordinary shares, with no par value, of TCL, representing 100% of the total issued share capital of TCL. Sierra currently owns 49,953,027 TCL shares representing 20% of the issued share capital of the company. Details of the Offer: – The offer per share is TT$7.15 inclusive of accrued and unpaid dividend, payable in cash. This represents a premium of 42% over TCL closing stock price on June 21st, 2002 on the Trinidad and Tobago Stock Exchange. The offer will expire at 3:00 pm, Port of Spain time, 35 days after the date of Offer, excluding start date and end date, unless extended by Cetacea.