Content

Consolidated Statements Of Unitholders’ Equity

Year ended December 31,

(millions of dollars)

2008

2007

Trust Units

333.4

333.4

Deficit at Beginning of Year

(48.1)

(36.1)

Earnings

21.9

21.1

Trust unit distributions

(35.7)

(32.1)

Deficit at End of Year

(61.9)

(48.1)

Accumulated Other Comprehensive Loss at Beginning of Year

(6.2)

-

Cumulative impact of change in accounting policy (Note 3)

-

(6.1)

Other comprehensive loss

(3.4)

(0.1)

Accumulated Other Comprehensive Loss at End of Year

(9.6)

(6.2)

Total Unitholders’ Equity

261.9

279.1

The accompanying notes to the consolidated financial statements are an integral part of these statements.