Notice of BP Organic Shingles Settlement-Canada

LONDON, ONTARIO--(Marketwire - July 25, 2012) - What is the litigation about? In the litigation (Marvin Sherebrin et al. v. Building Products of Canada Corp., Ontario Superior Court of Justice, Court File No. 4367/11CP; Diane Fitzsimmons v. La Cie Materiaux de Construction BP Canada, Quebec Superior Court, Court File No. 500-06-00580-114; and Robert S. Melillo et al. v. Building Products of Canada Corp., Vermont Superior Court, Chittenden Unit, Court File No. s618-11 cnc), it is alleged that BP Organic Shingles are subject to premature failure. Building Products of Canada Corp./La Cie Materiaux de Construction BP Canada (the "Defendant") denies these allegations and asserts that the BP Organic Shingles are free of any defect and will last the entire warranty period. However, in order to achieve certainty in terms of its ongoing obligations, the Defendant agreed to a settlement that will resolve the litigation. The settlement represents a voluntary resolution of claims. The Defendant does not admit any wrongdoing or liability.

The Ontario, Quebec and Vermont Courts will hold hearings to decide if the proposed settlement is fair, reasonable and adequate. In Ontario, the hearing will be on October 12, 2012, at 10:00am in the City of London. In Quebec, the hearing will be on September 21, 2012 at 9:30am in the City of Montreal. In Vermont, the hearing will be on December 12, 2012 at 10:00am in the City of Brattleboro. The full addresses of the Courts are available online at www.bpshinglesettlement.com.

More information about the litigation and the settlement (including copies of the settlement agreement and long-form Settlement Notice) is available online at www.bpshinglesettlement.com.

Which organic shingles are the subject of the settlement? The organic shingles that are the subject of the litigation are shingles made with a felt reinforcement base material that is saturated with asphalt, also known as "organic" roofing shingles, manufactured during the period from 1985 to 2010 under the brand names: Eclipse, Eclipse H/R, Eclipse LS, Super Eclipse, Weather-Tite, Mirage, Rampart, Tradition, Tite-Lok, Esgard Pro-Standard, Pro-Standard, Esgard 20, Esgard 25, Citadel, Tite-On, Roofmaster, Roofmaster Classic, Roofmaster Plus, Elegance, Elegance II, Europa, and Super Lok ("BP Organic Shingles").

Who is affected by the settlement? You might be affected by this settlement if you own or owned a building in Canada or the United States whose roofs contain or contained BP Organic Shingles.

You will only qualify for compensation under the settlement if: (1) you are a class member; (2) you submit a timely and complete Claim Form, along with the other required information; (3) you have experienced qualifying damage to your BP Organic Shingles, as set out in the settlement; and (4) the damage to the BP Organic Shingles was not caused by improper installation, improper maintenance, weather-related events, or some other factor unrelated to the manufacturing process, as set out in the settlement.

What are the settlement terms? The settlement codifies the BP Organic Shingles warranty and provides for additional enhancements to that warranty, which are particularized on the settlement website. The amount of compensation payable to qualifying claimants will depend on the following factors: (1) the terms of the applicable warranty; (2) the number of damaged BP Organic Shingles on the relevant roof slope; (3) the length of time the damaged BP Organic Shingles have been installed on the roof; and (4) whether the claimant selects the cash settlement option or the repairs settlement option.

If I am affected by the settlement, what are my options?

Exclude yourself. If you exclude yourself or "opt-out," you will not be eligible for compensation under the settlement, but you will be free to sue the Defendant on your own about the claims discussed in this Notice. If you do not opt out, you will be bound by the settlement and will be able to claim for benefits under the settlement, but you will not be able to sue the Defendant on your own in respect of the claims discussed in this Notice. For Quebec Class Members with actions currently pending, you will be deemed to have opted out unless you discontinue your currently pending action before September 19, 2012. For instructions on excluding yourself, see the long-form Settlement Notice, available online at www.bpshinglesettlement.com. The deadline for opting out is September 19, 2012.

Make Submissions. If you wish to make submissions to the appropriate Court regarding the settlement, you can file written submissions or ask to make oral submissions. For instructions on making written or oral submissions, see the long-form Settlement Notice, available online at www.bpshinglesettlement.com. The deadline for making written submissions or applying to make oral submissions is September 19, 2012.

File a Claim Form. To be eligible for compensation under the settlement, you must submit a timely and complete Claim Form. Claim Forms can be obtained online at www.bpshinglesettlement.com or by calling toll-free 1-800-515-3626. See the long-form Settlement Notice for details regarding the claims filing deadline.

Class Counsel and Class Counsel Fees. The Defendant has agreed to pay all Canadian and US class counsel fees plus applicable taxes and reasonable expenses and costs in an amount not to exceed Cdn $2,400,000.00 for all past and future work, including settlement approval and administration. Class counsel fees are subject to the approval of the Vermont Court, Ontario Superior Court, and Quebec Superior Court. For Quebec Class Members, please be advised that there will be a deduction from settlement benefits with respect to amounts payable to the Fonds d'aide aux recours collectives, calculated in accordance with the governing legislation.

How do I obtain more information? More information about your rights under the proposed settlement, including copies of the settlement agreement and the long-form Settlement Notice, is available online at www.bpshinglesettlement.com or by calling 1-800-515-3626. PLEASE DO NOT CALL THE COURTS.