Mr. Huss Hirji reports

DYE & DURHAM PROVIDES UPDATE ON THE COMPANY'S 3.75% CONVERTIBLE SENIOR UNSECURED DEBENTURES DUE 2026

Dye & Durham Ltd., subject to the closing of its previously announced refinancing transactions, intends to make an offer, by way of a substantial issuer bid, to acquire some or all of its outstanding 3.75 per cent convertible senior unsecured debentures due 2026. The terms of the offer will be announced if and when the offer is commenced.

In order to finance the offer, Dye & Durham will place $185-million of the proceeds from the refinancing transactions in an escrow account, which amount will be held until the earlier of: (a) the repurchase by holdings of all of the outstanding 2026 debentures; or (b) the maturity date of the 2026 debentures.

We seek Safe Harbor.