RELATED PARTY TRANSACTIONS

For the year ended December 31, 2004 and December 31, 2003, we incurred consulting and monitoring fees of $0.5 million and $1 million, respectively, with KKR and placement fees of $0.2 million and $0.5 million, respectively, with Teachers' . These agreements and related fees were terminated effective June 11, 2004.

For the year ended December 31, 2003, we incurred fees to Capstone Consulting LLC, an independent consulting firm that provides services exclusively to KKR and its affiliates, of approximately $2.4 million for its services to YPG. No such fees were paid during 2004. In 2003, Capstone Consulting LLC invested in YPG and received 207,607 options to purchase securities of a subsidiary, of which, 69,202 options were exercised in 2004.

BCE exchanged its units of YPG on February 10, 2004, as described previously. As such, on that date, BCE ceased to meet the definition of a related party. In the normal course of business, we recorded $0.4 million in revenues and $1 million in expenses for the period of January 1, 2004 to February 10, 2004. For the year ended December 31, 2003, we recorded $2.7 million in revenues while expenses amounted to $15.3 million.

As at December 31, 2004, there were no related parties.