ARGUS CORPORATION LIMITED

March 22, 2005 20:59 ET

Argus Corporation Limited Announces That It Supports The Going Private Transaction Of Hollinger Inc.


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ARGUS CORPORATION LIMITED

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

MARCH 22, 2005 - 20:59 ET

Argus Corporation Limited Announces That It Supports
The Going Private Transaction Of Hollinger Inc.

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - Argus Corporation
Limited (TSX:AR.PR.A)(TSX:AR.PR.D)(TSX:AR.PR.B) announced today that it
supports the proposed going private transaction of Hollinger Inc. (the
"Going Private Transaction").

The Board of Directors of Argus (the "Board") today received and
considered the unanimous recommendation of its Independent Committee
that Argus support the Going Private Transaction.

The Board then determined that Argus will support the Going Private
Transaction which it considers to be in the best interest of all
shareholders of Hollinger Inc.

Argus indirectly holds 21,596,387 Retractable Common Shares of Hollinger
Inc. (the "Common Shares") which is approximately 61.8% of the
outstanding Common Shares.

Argus intends to cause the Common Shares it indirectly holds of
Hollinger Inc. to be voted in favour of the Resolution of the holders of
the Common Shares to approve the consolidation of those shares that is
set out in the Management Proxy Circular of Hollinger Inc. dated March
4, 2005.

Argus strongly supports that all shareholders of Hollinger Inc. be given
the opportunity to vote on the Going Private Transaction at the Special
Meeting of the shareholders of Hollinger Inc. that is to be held on
March 31, 2005.

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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