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U.S. Securities and Exchange Commission

Triangle Industries Insider Trading — Samir Traboulsi, et al.

On August 4, 1997, the SEC filed a civil action against seven foreign nationals and two foreign entities alleging insider trading in the securities of Triangle Industries, Inc. shortly before a November 21, 1988 tender offer by Pechiney Corporation. For more information about the SEC's action, you can read Litigation Release No. 15429 (Aug. 4, 1997). The SEC reached settlements with several of the defendants, collecting approximately $6.5 million.

The Court ordered that a disgorgement fund be established to distribute monies to investors harmed by the illegal trading in Triangle Industries stock. Under the Court's Order, investors who sold the common stock of Triangle Industries during the trading period August 18, 1988 through November 21, 1988 may be eligible for a disbursement from the fund.

The Court has appointed Susan E. Brune as the Receiver of the fund. Ms. Brune has sent proof of claim forms to potential claimants. To participate in any possible distribution, claimants must have their claim forms (including relevant documentation) postmarked no later than May 8, 2003.

If you believe you may qualify under the Court's Order but have not received a claim form, you should contact the Receiver at:

Susan E. Brune
Brune & Richard LLP
26 Broadway, 20th Floor
New York, NY 10004
Phone: (212) 668-1900
Fax: (212) 668-0315
Email: triangle@bruneandrichard.com


Modified: 02/13/2003