ARGUS CORPORATION LIMITED

January 10, 2005 18:32 ET

Argus Corporation Limited: Dividend Declaration And Loan From Ravelston


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ARGUS CORPORATION LIMITED

TSX SYMBOL: AR.PR.A
TSX SYMBOL: AR.PR.D
TSX SYMBOL: AR.PR.B

JANUARY 10, 2005 - 18:32 ET

Argus Corporation Limited: Dividend Declaration And
Loan From Ravelston

TORONTO, ONTARIO--(CCNMatthews - Jan. 10, 2005) - Argus Corporation
Limited (TSX:AR.PR.A)(TSX:AR.PR.D)(TSX:AR.PR.B) today announced that it
had declared regular quarterly dividends to be paid on February 1, 2005
to the holders of record of its Class A and Class B Preference Shares at
the close of business on January 20, 2005.

The dividends to be paid are respectively Cdn. 62 1/2 cents per share on
the Class A Preference Shares $2.50 Series, Cdn. 65 cents per share on
the Class A Preference Shares $2.60 Series and Cdn. 67 1/2 cents per
share on the Class B Preference Shares 1962 Series.

Argus has previously disclosed that it needed to obtain additional funds
in order to continue to pay dividends on the Class A and Class B
Preference Shares on an uninterrupted basis, including the dividends
that are to be paid on February 1, 2005.

The Ravelston Corporation Limited ("Ravelston"), the parent of Argus,
today agreed to provide a loan to Argus for Cdn. $251,703, the amount of
the dividends to be paid by Argus on February 1, 2005, so that these
dividends could be declared and paid.

Ravelston holds all of the Common Shares and Class C Preference Shares
of Argus and 2,900 of Argus' 55,893 issued Class A Preference Shares
$2.60 Series. The loan is to be made by Ravelston on an interest-free
basis pursuant to a Promissory Note and will be repayable on February
28, 2006.

Argus will require additional funds to be able to continue to pay future
dividends on its Class A and Class B Preference Shares on an
uninterrupted basis, including an additional amount of approximately
Cdn. $251,703 for dividends that are scheduled to be paid on May 1, 2005.

Argus intends to make efforts to ensure that such dividend payments can
be made on May 1, 2005 and continue to be made thereafter on an
uninterrupted basis.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Argus Corporation Limited
    Monique L. Delorme
    Chief Financial Officer
    (416) 363-8721
    or
    Argus Corporation Limited
    Peter G. White
    Executive Vice-President and Secretary
    (416) 363-8721