Standard & Poor's Announces The Following Index Change: S&P/TSX Composite Index

The S&P/TSX Canadian Index Policy Committee has determined that financial instruments structured as "Mutual Fund Corporations" will not qualify for inclusion in the S&P/TSX Composite Index. On April 23, 2002, the shareholders of TrizecHahn Corporation (TSX:TZH) approved a plan of arrangement of the corporation that will be effective May 8, 2002. Under the terms of the plan of arrangement, TrizecHahn Corporation will be restructured, with the Canadian entity renamed Trizec Canada Inc. which, for Canadian tax purposes, is intended to qualify as a "mutual fund corporation."

As a result of this restructuring, effective after the close of trading on Thursday, May 2, 2002, TrizecHahn Corporation will be removed from the S&P/TSX Composite, S&P/TSX Capped Composite, S&P/TSX MidCap, TSX 100, S&P/TSX Canadian Financials and the S&P/TSX Canadian Real Estate Indices. TrizecHahn Corporation will be replaced in the TSX 100 Index by WestJet Airlines Ltd. (TSX: WJA) and in the S&P/TSX Canadian MidCap Index by Hurricane Hydrocarbons Ltd. (TSX: HHL.A). WestJet Airlines Ltd. is a low-fare airline which provides scheduled short-haul passenger jet airline services in Canada. Hurricane Hydrocarbons Ltd. is an international energy corporation engaged in the acquisition, exploration, development and production of oil, primarily in the Republic of Kazakhstan.

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