Management’s Report on Internal Control over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting.
Management has assessed the effectiveness of the company’s internal control over financial reporting as of December 31, 2004 using criteria established in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation, management concluded that the company’s internal control over financial reporting was effective as of December 31, 2004.
PricewaterhouseCoopers LLP, our auditors, have audited management’s assessment of the effectiveness of the company’s internal control over financial reporting as of December 31, 2004 as stated in their report which appears herein.
March 4, 2005
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V. Prem Watsa
Chairman and Chief Executive Officer | | 
Trevor J. Ambridge
Vice President and Chief Financial Officer |
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