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Citigroup Global Markets Inc. acted as dealer manager for an offer to exchange its 8% Senior Subordinated Notes due 2012 (the "New Notes") by an affiliate of CanWest Media Inc. for the 12 1/8% Senior Notes due 2010 issued by Hollinger Participation Trust. In addition, Citigroup Global Markets Inc. acted as sole book-running manager for a concurrent offering of an additional U.S.$130 million of the New Notes in the United States and Canada by private placement. Subsequent to the completion of the exchange offer and concurrent offering, CanWest and the affiliate amalgamated to form the new CanWest Media Inc. Davies represented Citigroup Global Markets Inc.

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2004