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A VOICE IN OUR FUTURE The Colonial Employees Mutual Fund was organized in order that the employees as minority stockholders in Colonial might have some voice in the formulation of these plans and policies which so vitally affect us. In their capacity of stockholders, the employees would have a direct voice in the affairs of the corporation and would be in a position to place their ideas and suggestions with respect to the operation of the company before management and other stockholders. It is anticipated, moreover, that because of its makeup and representative capacity, the Fund will be accorded more respect and will exercise more influence as a stockholder than would any individual employee-stockholder. PURPOSES OF THE FUND The Fund is for the purpose of: 1. Creating a closer relationship between the employees and the company through stock ownership; 2. Joining together the small individual investments of the employees in order to take advantage of their combined strength for the benefit of all its members; 3. Any other purpose which the directors of the Fund believe will result in benefit or advantage to the stockholders of the Fund. SUBJECT TO THE stockholders APPROVAL OPERATION OF THE FUND Membership in the Fund will be limited to employees of Colonial. The Fund will be managed by directors elected by the employee-stockholders of the Fund. These directors will serve without compensation and will direct the overall policy of the Fund. The directors will in turn appoint an -2-