OILWORKERS!

– YOU OWN MORE THAN 6% OF TCL SHARES!

– YES, THAT’S RIGHT! The six Petrotrin Pension Plans and the Trinmar Pension Plan together own more than six percent (6%) of TCL shares.

– THIS MEANS THAT OILWORKERS & RETIRED OILWORKERS ARE THE THIRD LARGEST SHAREHOLDER OF TCL AFTER CEMEX AND THE NIB!

– And if we were to add the Primera Pension Plan & your share of NIB & the TECU, Antilles, Zenith & Palo Seco Credit Union Shares– THEN OILWORKERS COLLECTIVELY ARE THE SECOND LARGEST SHAREHOLDER OF TCL!

– At today’s EGM, Cemex wants their Resolution to be passed. They must not be allowed to succeed. The Resolution seeks to have the TCL by-laws amended so as to remove the present 20% ceiling on share ownership by a single individual or corporate shareholder. The 20% ceiling prevents Cemex or any other giant company from owning too many shares and getting too much power. It allows for the broadest possible number of people to own shares. If the 20% ceiling is removed, Cemex can buy-out 100% of TCL and thus push out your pension plans, credit unions, the Unit Trust from owning shares! Cemex must be stopped. The way to do this is to defeat its Resolution at today’s EGM!

– Already Your Credit Unions, correctly recognizing that a Cemex takeover of TCL is not in the interest of workers, the ordinary shareholder or the nation, have wisely decided to vote AGAINST the Cemex resolution at the TCL EGM today. The Unit Trust – another people’s institution – has taken a similar decision.

– The NIB had a split vote, with RBTT & Guardian Executives who sit on the NIB Board voting in favour of Cemex. In our view this was a clear conflict of interest and this matter is now before the courts.

– CEMEX CAN BE DEFEATED HOWEVER BECAUSE THE MOST IMPORTANT SHARES ARE HELD BY PENSION FUNDS. The T&TEC Pension Fund has decided to vote against Cemex. TSTT has decided to vote against Cemex.

– THE WORKERS’ REPRESENTATIVES ON THE VARIOUS PETROTRIN & TRINMAR PENSION PLAN MANAGEMENT COMMITTEES HAVE DEMANDED THAT THE PENSION PLANS, AS SHAREHOLDERS, VOTE AGAINST CEMEX. IN ADDITION, AT THE HIGHEST LEVEL OF PETROTRIN A DECISION HAS ALSO BEEN TAKEN TO VOTE AGAINST CEMEX’s RESOLUTION.

– HOWEVER, RBTT & REPUBLIC WHO ARE THE TRUTEES OF THE VARIOUS PENSION FUNDS WANT TO VOTE FOR CEMEX. IN THIS THEY MAY HAVE THE SUPPORT OF CERTAIN PETROTRIN & TRINMAR OFFICIALS.

– OILWORKERS MUST TAKE A STAND NOW! YOU, AND NOT RBTT & REPUBLIC ARE THE OWNERS OF THE SHARES! PENSION FUND MONIES BELONG TO THE MEMBERS AND NOT THE TRUSTEES. THE TRUSTEES MUST ACT IN ACCORDANCE WITH THE MEMBERS’ WISHES!

– It is in the long-term interest of Pension Funds not to sell to CEMEX! This is why Unit Trust has decided to vote against Cemex. If the Petrotrin & Trinmar Pension Funds were to sell their shares where, pray tell, would they invest the $100 million cash that they get from the sale? In the volatile US market where share prices are tumbling & interest rates are low? In fixed deposits in the local banks where interest rates are much lower than the 14% rate of return TCL paid out last year? TCL shares are a valuable investment! You must keep them!

WE REPEAT. OILWORKERS OWN MORE THAN 6% OF TCL SHARES. YOU MUST TELL THE TRUSTEES RBTT & REPUBLIC THAT TODAY AT THE EGM THEY MUST VOTE AGAINST THE CEMEX RESOLUTION.

YOU MUST TAKE ACTION TODAY TO ENSURE THAT:

1. PETROTRIN & TRINMAR’S MANAGEMENT IMPLEMENTS THE DECISION TO INSTRUCT THE TRUSTEES TO VOTE AGAINST THE CEMEX RESOLUTION.

2. THAT THE TRUSTEES ACT IN ACCORDANCE WITH THE SAID DECISION TO VOTE AGAINST THE RESOLUTION

ALL OILWORKERS ARE INVITED TO LET THE COMPANIES KNOW THAT YOU NOT MAKING JOKE WITH YOUR PENSION FUNDS!

ALL OILWORKERS ARE INVITED TO BE AT THE NAPARIMA BOWL BY 2.00PM TODAY MONDAY JULY 29^TH TO ENSURE THAT THE TRUSTEES ACT IN ACCORDANCE WITH YOUR WISHES!