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Background & History Rutland Fire Clay Company Asbestos Trust

The Rutland Fire Clay Company and Rutland, Inc. (Rutland) filed voluntary petitions for relief under Title 11 of Chapter 11 of the United States Bankruptcy Code on October 13, 1999. In its filing, Rutland sought bankruptcy protection in order to develop a plan to manage and settle its asbestos personal injury and property damage claims. As part of the reorganization, Rutland proposed the establishment of the Rutland Fire Clay Company Asbestos Trust (the "Trust"). Pursuant to the plan, the Trust is to use its assets and/or income in accordance with the Asbestos Bodily Injury Claims Resolution Procedures and the Asbestos Property Damage Claims Resolution Procedures to pay Claims and Demands against Rutland, as defined in Sections 101(5) and 524(g)(5) of the Bankruptcy Code. The United States Bankruptcy Court for the District of Vermont and the United States District Court for the District of Vermont have determined that the Trust and the Plan satisfied all prerequisites for a supplemental injunction pursuant to Section 524(g) of the Bankruptcy Code. A Permanent Channeling Injunction has been entered in connection with the Order Confirming the Plan channeling all asbestos related claims against Rutland to the Trust. On December 17, 2000 the Rutland Fire Clay Company Asbestos Trust was established with a Managing Trustee and a three(3) person Advisory Committee ("The Advisory Committee" or "TAC"). The purpose of the Trust is to assume all asbestos-related claims against Rutland Fire Clay Company pursuant to Section 524(g) of the US Bankruptcy Code. The Trust will use its assets to pay Allowed Asbestos Claims as provided in the Plan and the Trust Agreement. All Allowed Claims for Asbestos Bodily Injury will be treated in a substantially equivalent manner as all other such Claims. The purpose of the Trust shall be fulfilled through the provisions of the Trust Agreement and the Asbestos Claims Resolution Procedures. Claims will be paid on a first received priority basis (randomized in 7 day intervals) and shall be subject to availability of funds.