Canadian Warrants

345,000 class B shares to be reserved for issuance pursuant to an option granted to the underwriters.

115,000 class B shares to be reserved for issuance pursuant to the exercise of the warrants.

The class B shares and warrants will be admitted to trading on a regular basis after confirmation that the closing of the distribution, scheduled for 8:30 am July 7 1993, has taken place.

The class B shares and the warrants will be issued to the public by way of a prospectus dated June 22 1992 in the form of units. The price per unit is $3.75 and each unit consists of one class B share and one-half of a warrant. The units shall be separated at the closing of the offering on July 7 1993 and certificates evidencing the class B shares and separate certificates evidencing the warrants will be available for delivery at such date. If the primary distribution has not been completed on July 7 1993, members must trade on the exchange the warrants and the class B shares which have already been distributed to the public and members of the banking and selling groups must complete off the exchange all sales which form part of the primary distribution under the prospectus of June 22 1993. In this connection, they will be exempted from the provision of article 6004 of the bylaws of the exchange which require that all trading in listed securities be done on the exchange.

                 Symbol     Cusip
                 ------     -----
Class B shares   LER.B    00450D 20 5
Warrants         LER.WT   00450D 11 4

The class B shares entitle their holders to one vote per share, the right to participate pro rata, share for share, with the class A multiple voting shares in the payment of dividends and the distribution of the company's assets in the event of its liquidation or dissolution. If a takeover bid or exchange bid or issuer bid is filed, seeking acquisition of class A multiple voting shares, the class B shares will, solely for the purposes of allowing the depositing of these shares in response to such offer, become convertible into class A multiple voting shares, subject to certain conditions and restrictions.

The following is a summary of the principasl provisions pertaining to the warrants which are governed by a warrant indenture between the company and General Trust of Canada, acting as agent under the warrants indenture.

Each whole warrant gives its holders the right to purchase, for $3.50, one class B share at any time up to the close of business on December 31 1995. After this date, the warrants will be null and void.

The warrants included in the units offered will be issued in the form of bearer securities and will be governed by the warrant indenture. The company has designated the agent's principal place of business in Montreal as warrant agent, where the warrants may be delivered to be exercised, exchanged or replaced.

The warrants indenture also will provide that the exercise price and the number of class B shares are subject to adjustments in certain events, including:

a). The issuance of class B shares as a dividend other than in the form of a dividend paid in the normal course of business on the class B shares;

b). The subdivision, consolidation or certain reclassifications of class B shares;

c). The issuance to all or almost all of the holders of class B shares of rights, options or warrants allowing them, within no more than 45 days after the closing date of the registers of such offering, to acquire i) class B shares at a price lower than 95% of the quoted market price of class B shares; or ii) securities convertible into class B shares if the conversion price on the date of issuance of these convertible securities is less than 95% of the quoted market price of class B shares; and

d). The distribution to all or almost all of the holders of class B shares i) of shares of any other class; ii) of properties or any other assets of the company; or iii) of debt securities.

No adjustment of the exercise price or of the number of class B shares which may be purchased upon exercise will be required, in particular, i) unless the cumulative effect of this adjustment or these adjustments would result in a change of at least 1% in the exercise price, or the number of class B shares which can be purchased upon exercise is changed by at least one one-hundredth of a share.

The transfer agent and registrar for the class B shares and the warrants is the General Trust of Canada at its head office in Montreal