Board of Directors, Travel and Hospitality Expenses

As part of its commitment to accountability and good corporate governance, Canada Lands Company CLC Limited (CLC) is disclosing travel and hospitality expenses for its President & CEO, Senior Management Team as well as the Board of Directors. Expenses are reported on a quarterly basis and reflect the period in which they are reported in the company's financial records.

On December 12, 2003 the Government of Canada introduced a new guideline which stipulates that all travel and hospitality expenses for selected government officials be posted on institutional web sites. While the requirement does not apply to Crown corporations, CLC reports these expenses on a voluntary basis.

CLC Directors hold meetings in various parts of the country depending on the various activities and priorities of the Company. Given the varying roles of each Board member and location of residence, travel expenses among individuals may vary significantly.

The following disclosures include business expenses related to travel and hospitality expenditures in relation to the following activities: Board and Committee meetings, stakeholder relations, corporate representation, orientation and training, and other board-related activities.