Consolidated Statement of Cash Flows 2005 2004 Year ended March 31 $ $ [in thousands of Canadian dollars] OPERATING ACTIVITIES Excess (deficiency) of revenue over expenses    for the year 1,424  (1,963) Add (deduct) items not involving cash Depreciation and amortization 7,724  6,744  Loss on disposal of property, plant and equipment 50  42  Gain on sale of investments (766) (1,601) Increase in accrued pension benefit asset (3,707) (3,362) Increase in accrued other retirement and      post-employment benefit liability 3,604  2,872  Foreign exchange loss 829  2,493  Net change in non-cash working capital    balances [note 7] (4,949) 3,347  Cash provided by operating activities 4,209  8,572  INVESTING ACTIVITIES Deferred expenses (715) (3,108) Purchase of property, plant and equipment (5,507) (3,710) Proceeds on disposal of property, plant and equipment 8  9  Purchase of investments (40,537) (58,555) Proceeds on sale of investments 45,264  56,999  Business acquisition (4,101) –  Cash used in investing activities (5,588) (8,365) Net increase (decrease) in cash during the year (1,379) 207  Effect of exchange rate changes on cash (829) (2,493) Cash, beginning of year 14,596  16,882  Cash, end of year 12,388  14,596  See accompanying notes © Copyright 2005 Canadian Standards Association. All rights reserved.