ADCapital US Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2005	FY 2004
Period Ending	Jun '06 Jun 30, 2006	Dec '05 Dec 31, 2005	Dec '04 Dec 31, 2004
Net Income	-0.49	-0.49	-0.14
Asset Writedown & Restructuring Costs	0.48	0.48	-
Other Operating Activities	-	-	-0
Change in Accounts Payable	0.01	0.01	0
Operating Cash Flow	-0	-0.01	-0.14
Issuance of Common Stock	-	-	0.8
Other Financing Activities	-0.01	-0.04	-0.6
Financing Cash Flow	-0.01	-0.04	0.2
Net Cash Flow	-0.02	-0.04	0.06
Cash Interest Paid	0	0	0
Levered Free Cash Flow	-	0.4	-
Unlevered Free Cash Flow	-	0.4	-
Change in Net Working Capital	-	-0.41	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.