Tricap Buys AT&T Canada Shares

BEDMINSTER, N.J. -- Today's purchase of the outstanding AT&T Canada shares by Tricap Investments Corporation, a wholly owned subsidiary of Brascan Financial Corporation, and CIBC Capital Partners, the merchant banking division of Canadian Imperial Bank of Commerce, satisfies AT&T's obligation to AT&T Canada shareholders under the terms of a 1999 merger agreement, AT&T said. As previously announced, AT&T agreed to pay the purchase price for the AT&T Canada shares on behalf of Tricap and CIBC Capital Partners. AT&T retains approximately a 31 percent economic interest in AT&T Canada. AT&T Canada Inc.