Canadian Warrants

Other markets:  None
Notes symbol:  STE.NT.U
Notes Cusip No.:  858525 AG 3
Notes trading currency:  U.S. dollars
Transfer agent and registrar:  BNY Trust Co. of Canada
Other markets:  None

The foregoing listings result from the anticipated closing of the third amended and restated plan of arrangement and reorganization, as amended which is scheduled to become legally effective on March 31, 2006. Refer to the Toronto Stock Exchange bulletins No. 2006-0008 dated Jan. 4, 2006, No. 2006-0238 dated March 3, 2006, and No. 2006-0336 dated March 24, 2006, for more information. Upon the plan becoming legally effective, among other things:

1. both the Series A common shares and Series B common shares (both delisted on March 10, 2006) will be worthless and of no value; and
2. holders of the 9.5-per-cent convertible unsecured subordinated debentures (delisted on March 24, 2006), as affected creditors (as such term has been defined
in the plan) will be entitled to receive, for each $1,000 principal amount of debentures, a yet-to-be-determined dollar value of new securities and cash, if any.
The TSX will issue a further bulletin providing details of the new securities and cash to be issued to the debentureholders, if any, at the time such information is known.

Should the plan not be implemented as scheduled, the TSX will issue a trader note prior to the open on Monday, April 3, 2006, announcing this fact and halting the new securities until further notice.

The following are attributes to be attached to each of the new securities.

New common shares

The new common shares will be fully participating common shares of the company, will carry one vote per share, will be entitled to dividends if declared and will be evidenced by registered certificates. At present, the company is not planning to pay dividends on the new common shares.

Warrants

Each warrant will entitle the holder to purchase one new common share at a price of $11 on or after June 28, 2006, until March 31, 2013. The warrants will be issued in certificated form and be governed by a warrant indenture to be dated March 31, 2006 (or such other date as may be the plan implementation date) between CIBC Mellon, as trustee, and the company. The warrant indenture will provide for appropriate
adjustments to the rights of the holders of warrants in the event of stock dividends, subdivisions, consolidations or other forms of capital reorganization.

Notes

The notes will be issued in fully registered certificated form and will be governed by the first supplemental indenture to the trust indenture, both to be dated March 31, 2006, between BNY Trust, as Canadian trustee, and the Bank of New York, as United States trustee, on the one part, and the company on the other part.

The notes will be quoted and traded in U.S. funds. Daily market quotations and trading information for the notes will appear under a separate heading entitled U.S. funds in the TSX's daily record and monthly review and in the stock tables of the financial press.

The notes will be quoted and traded in U.S. funds on an accrued interest basis, i.e. all bids, offers and trades of the notes will reflect only the capital portion of the notes and will not reflect accrued interest. Accrued interest must be reflected in the seller's
and buyer's settlement amount, and must be reflected in confirmation with clients.
The notes will be quoted based on $100 (U.S.) principal amount with all trades being made in multiples of $1,000 (U.S.). For example, an order to buy $5,000 (U.S.) principal amount will be given as an order to buy 5,000. An order to sell $20,000 (U.S.) principal amount will be shown as an order to sell 20,000. An order for 1,500, for example, is not acceptable since all trades must be made in multiples of $1,000 (U.S.). The minimum trading unit of notes is $1,000 (U.S.) and a board lot of notes is $1,000 (U.S.).

The following is a summary of some of the principal provisions of the notes. To the extent the provisions summarized below conflict with the supplement and the note indenture, the supplement and the note indenture will prevail. Reference should be made to the supplement and the note indenture for complete details. Capitalized terms not defined herein shall have the meanings ascribed to them in the supplement or the trust indenture:

Principal amount:  235.07-million (U.S.)

Maturity date:  March 31, 2016

Interest:  Payable in semi-annual instalments in arrears on March 31 and Sept. 30 of each year with the first payment in the amount of $53.93 (U.S.) per $1,000 (U.S.) amount being payable on Sept. 30, 2006 (based on an issuance date of March 31, 2006);

(i) from and including March 31, 2006, to, but not including March 31, 2008, at the rate per year equal to the Libor rate in respect of the applicable interest period plus 5.5 per cent, provided that if the company elects to pay interest by issuing additional
notes (see below), such interest rate will increase (applicable for the entirety of the interest period) to the applicable Libor rate plus 8.5 per cent in respect only of the interest obligation being satisfied. The interest rate applicable from March 31, 2006, to Sept. 30, 2006, will be 10.61 per cent.

(ii) from and including March 31, 2008, at a rate per year equal to the Libor rate in respect of the applicable interest period plus 5.5 per cent, provided that if the company elects to pay interest by issuing additional notes (on payment dates that are at least five years prior to the maturity date) or if the company elects to accrue interest (on payment dates that are at least five years prior to the maturity date), such interest rate will increase (applicable for the entirety of the interest period) to the
applicable Libor rate plus 8.5 per cent in respect only of the interest obligation being satisfied, provided that if, on the banking day the Libor rate is to be calculated with respect to the applicable interest period, the increased rate test amount is less than or equal to $500-million, the applicable rate of interest for that interest period only will be decreased by 0.5 per cent. Interest will be calculated based on a 360-day year.

The company may elect, by the giving of notice to BNY Trust and the Bank of New York no later than the date that is the earlier of the date required by applicable law or 15 business days prior to a record date for the payment of interest, provided that the election may only be exercised in the event that the applicable interest payment date
falls on a date at least five years prior to the maturity date, to pay all, or any part, of any interest obligation by the issuance of further notes in lieu of cash payments. If the company issues such additional notes, it will have the option of making such payments that are less than $1,000 (U.S.) in cash.

For a period of 15 business days prior to each payment date, including any
redemption date, BNY Trust and the Bank of New York will not be required to effect any transfers of notes, if they so choose.

Redemption:  At the option of the company, upon the giving of not less than 30 days advance notice, in whole or in part, redeemable at:

(i) 110 per cent of the principal amount, if redeemed prior to April 1, 2008;

(ii) 105 per cent of the principal amount, on or after April 1, 2008, and prior to April 1, 2009;

(iii) 102.5 per cent of the principal amount, on or after April 1, 2009, and prior to April 1, 2010; and

(iv) 100 per cent of the principal amount on or after April 1, 2010, in all cases, together with accrued unpaid interest, if any.