GLP NT Corporation
TSX : GP.NV.A

November 11, 2005 10:48 ET

GLP NT Corporation Announces Second Quarter Results

TORONTO, ONTARIO--(CCNMatthews - Nov. 11, 2005) - GLP NT Corporation (TSX:GP.NV.A) today announced that income available for distribution for the six months ended September 30, 2005 was $5.3 million, compared to $5.4 million for the same period last year. During the quarter ended September 30, 2005, dividends of $2.6 million were paid to the company's Class A shareholders, unchanged from last year.

The company's Board of Directors declared the regular quarterly dividend of $0.15 per Class A share, payable February 28, 2006 to shareholders of record on February 15, 2006.



STATEMENT OF NET EARNINGS
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Three months ended Six months ended
(unaudited) September 30 September 30
$thousands 2005 2004 2005 2004
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Revenue
Investment $ 2,811 $ 2,797 $ 5,620 $ 5,597

Expenses
Operating 175 100 298 246
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Income available for
distribution $ 2,636 $ 2,697 $ 5,322 $ 5,351
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GLP NT Corporation is an equity dividend investment company, with an ownership interest in 17 million common shares of Brascan Power Inc., a power generating company operating mainly in Canada and the United States.

George E. Myhal, the company's Chairman and President, will be available at (416) 363-9491 to answer any questions on the company's financial results.

This news release contains forward-looking statements concerning the company's business and operations. The company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the company's actual results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Information Form for a description of the major risk factors.

Contact Information

  • GLP NT Corporation
    George E. Myhal
    Chairman and President
    (416) 363-9491