Senior Management Team, 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 employees travel to various parts of the country to help fulfill the company's mandate to increase the financial and community value of surplus strategic properties no longer required by the Government of Canada. Given the varying roles of each member of the CLC's management team, 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: business development, stakeholder relations, corporate representation, meetings with the company's Board of Directors and board-related activities.