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  has 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 any and all liabilities of the Rutland Fire Clay Company and Rutland, Inc. or its successor in interest, with respect to any and all Asbestos Bodily Injury Claims and Demands or Asbestos Property Damage Claims and Demands. The Trust is to use its assets and income to pay holders of Allowed Asbestos Claims and Demands in accordance with the Plan and Trust Agreement, in such a way that all holders of Asbestos Bodily Injury Claims and Demands are each treated in a substantially equivalent manner as other holders of Asbestos Bodily Injury Claims and Demands, and all holders of Asbestos Property Damage Claims and Demands are each treated in a substantially equivalent manner as other holders of Asbestos Property Damage Claims and Demands; and to otherwise comply in all respects with the requirements of a trust set forth in Section 524(g)(2)(B)(i) of the Bankruptcy Code. This purpose shall be fulfilled through the provisions of the Trust Agreement and the Asbestos Claims Resolution Procedures.

It is anticipated that the Claim Payment Value of each Web Based claim will be approximately $10.00 and for Telephone claims submitted thru the Interactive Voice Response System to be paid at 80% of the Claim Payment Value of web based claims.

Claims will be paid based on random order filed on a particular day. Claims filed on the same day will not have a priority based upon time filed on such day and shall be subject to availability of funds.