2006 ANNUAL REPORT
CHAIR’S LETTER
TO SHAREHOLDERS
CEO’S LETTER
TO SHAREHOLDERS
STATEMENT OF CORPORATE
GOVERNANCE PRACTICES
2006 MANAGEMENT’S
DISCUSSION AND ANALYSIS
FINANCIALS
Management Statement
Auditors’ Report to Shareholders
Consolidated Balance Sheets
Consolidated Statements of Income
Consolidated Statements of Changes in Shareholders’ Equity
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
Three-Year Review
CORPORATE INFORMATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
Years ended December 31, 2006 and 2005 (in thousands of dollars, except per share amounts)

14. OTHER LIABILITIES:

Other liabilities include amounts payable under the long term incentive plan (note 19), liabilities due to the contraction of office space and amounts due on acquisitions made during the year.