Merger Details

Effective January 11, 2006 PBB Global Logistics Income Fund merged with Livingstone International Income Fund with Livingstone being the surviving company. Unitholders of PBB received 1 unit of Livingstone for each unit of PBB held and could select either a deemed taxable disposition or a tax-deferred rollover option. The ACB Calculator assumes that the PBB unitholder selected the latter.