NEW GOLD INC.

NEW GOLD INC. is listed on AMEX (NGD). ITEM 3: GENERAL DEVELOPMENT OF THE BUSINESS Business of New Gold - Three Year History The Company is a natural resource exploration and development company and has been engaged in the acquisition, exploration and development of natural resource properties since 1980. Over the past three years, the Company's principal focus has been the exploration and development of the Afton Project, located approximately 10 kms (6 miles) west of Kamloops, British Columbia near the Trans Canada Highway. The Afton Project includes two exhausted open pits where government reports indicate that the previous occupier of the property, Afton Mines Ltd., mined and milled 22 million tonnes of ore and produced in excess of 450,000 ounces of Au and 450 million pounds of Cu from 1977 to 1988. The Afton Project is the Company's only material property.

New Hampshire Thrift Bancshares Inc.

New Hampshire Thrift Bancshares Inc. is listed on NASDAQ (NHTB). New Hampshire Thrift Bancshares, Inc. (NHTB), a Delaware holding company organized on July 5, 1989, is the parent company of Lake Sunapee Bank, fsb, a federally chartered savings bank. The Bank was originally chartered by the State of New Hampshire in 1868 as the Newport Savings Bank. The Bank became a member of the Federal Deposit Insurance Corporation (FDIC) in 1959 and a member of the Federal Home Loan Bank of Boston in 1978. On December 1, 1980, the Bank was the first bank in the United States to convert from a state-chartered mutual savings bank to a federally-chartered mutual savings bank. In 1981, the Bank changed its name to Lake Sunapee Savings Bank, fsb and in 1994, refined its name to Lake Sunapee Bank, fsb. The Bank's deposits are insured by the Savings Association Insurance Fund (SAIF) of the FDIC.

Oriental Financial Group Inc. ..s to its clients through a complete range of consumer and commercial banking-financial solutions, including consumer, commercial and mortgage lending;..

Patterson Companies Inc. ..tained in Items 1, 2, 3 and 7 of this Form 10-K includes forward-looking statements. Reference is made to Item 7 - Management's Discussion and Analysi..

Pure Cycle Corporation ..te of Delaware in 1976. We were founded on the belief that water is a precious commodity, one that is often undervalued and therefore used inefficient..

Progen Industries Limited ..e were incorporated in September 1989 as Almagest Pty. Ltd. in the State of Queensland, Australia, and changed our name to Progen Industries Pty. Ltd...

Piedmont Natural Gas Company Inc. .. incorporated in New York in 1950 and began operations in 1951. In 1994, we merged into a newly formed North Carolina corporation with the same name f..

Pro-Pharmaceuticals Inc. ..001. On May 15, 2001, we acquired all of the outstanding common stock of a Massachusetts corporation engaged in a drug delivery development business. ..

PMA Capital Corporation ..ompany, which offers through our subsidiaries workers compensation, integrated disability and, to a lesser extent, other standard lines of commercial ..

Pomeroy IT Solutions Inc. ..ons provider with a comprehensive portfolio of consulting, infrastructure and lifecycle services. Our mission is to provide customers with increased e..

Performance Food Group Company ..as founded in 1987 through the combination of various foodservice businesses and has grown internally through increased sales to existing and new cust..

Franklin Covey Company ..ies and individuals the world over by helping them achieve their own great purposes through teaching the principles and practices of effectiveness and..

Provident Energy Trust ..velopment I. The Trust Provident Energy Trust is an open-end unincorporated investment trust governed by the laws of the Province of Alberta and creat..

Quigley Corporation (The) ..ich was organized on August 24, 1989 and commenced business operations in October 1989. The Companys business is the manufacture and distribution of c..

InsWeb Corporation ..rated in California in February 1995 and re-incorporated in Delaware in October 1996, and is headquartered outside Sacramento, California. InsWeb's he..

Rite Aid Corporation .. the United States based on revenues and number of stores. We operate our drugstores in 28 states across the country and in the District of Columbia. ..

Revlon Inc. ..ough its direct subsidiary, Revlon Consumer Products Corporation (Products Corporation), which manufactures, markets and sells an extensive array of c..

Riviera Tool Company ..er of large scale, complex stamping die systems used to form sheet metal parts. Most of the stamping die systems sold by the Company are used in the p..

Rome Bancorp Inc. ..rporation organized on June 9, 1999 as the stock holding company for The Rome Savings Bank (Rome Savings), a federally chartered stock savings bank he..

Ruby Tuesday Inc. ..972 in Knoxville, Tennessee near the campus of the University of Tennessee. The Ruby Tuesday concept, which at the time consisted of 16 restaurants, w..

Grupo Casa Saba S.A. de C.V. ..a de capital variable, or stock corporation with variable capital, which was organized under the laws of the United Mexican States on November 16, 198..

Saxon Capital Inc. .. we refer to as Old Saxon, was formed on April 23, 2001 and acquired all of the issued and outstanding capital stock of SCI Services, Inc. (referred t..

Sykes Enterprises Incorporated ..ubsidiaries (Sykes, our, us) is a global leader in providing outsourced customer contact management solutions and services in the business process out..

StanCorp Financial Group Inc. ..y reference in this Annual Report on Form 10-K, including those relating to the Company's strategy and other statements that are predictive in nature,..

Shiloh Industries Inc. ..organized in 1993. Unless otherwise indicated, all references to the Company or Shiloh refer to Shiloh Industries, Inc. and its consolidated subsidiar..

SL Industries Inc. ..nufactures and markets power electronics, power motion, power protection, teleprotection and specialized communication equipment that is used in a var..

Stein Mart Inc. ..a 261-store retail chain with stores that offer the fashion merchandise, service and presentation of a traditional, better department or specialty sto..

Sonic Solutions .. digital media - that is, data, photographs, audio, and video in digital formats. Our product lines focus particularly on the two most successful opti..

Spectrum Control Inc. ..rein, the following discussion contains forward-looking statements that involve risks and uncertainties. The Company intends these forward-looking sta..

Southern Missouri Bancorp Inc. ..s state of incorporation to Missouri on April 1, 1999, was originally incorporated in Delaware on December 30, 1993 for the purpose of becoming the ho..

Steel Dynamics Inc. .. operates three steelmaking mini-mills. We produce our steel principally from steel scrap, using electric arc melting furnaces, continuous casting and..

SYNERGX Systems Inc. ..laware corporation organized in October 1988 to acquire controlling interests in companies engaged in the design, manufacture, distribution, sale and ..

SL Green Realty Corporation ..e investment trust, or REIT, with in-house capabilities in property management, acquisitions, financing, development, construction and leasing. We wer..

Student Loan Corporation (The) ..d services student loans. The Company is one of the nations largest originators and holders of guaranteed student loans made under the federal Higher ..

Texas Industries Inc. ..ed a plan to spin off our wholly-owned steel operations in order to permit our cement, aggregates and concrete, or CAC, business and our steel busines..

24-7 Real Media Inc. ..nd software products and services for the online advertising needs of Web publishers and advertisers, including Web representation, search engine mark..

Tektronix Inc. ..ices test, measurement and monitoring solutions to a wide variety of customers in many industries, including computing, communications, semiconductors..

Tenneco Automotive Inc. ..e worlds leading manufacturers of automotive emission control and ride control products and systems. Our company serves both original equipment vehicl..

TotalFinaElf S.A. ..h 28, 1924, together with its subsidiaries and affiliates, is the fourth largest publicly-traded integrated oil and gas company in the world, based on..

TriQuint Semiconductor Inc. ..r, or our company) is a supplier of high performance components and modules for communications applications. Our focus is on the specialized expertise..

TheStreet.com Inc. ..d subsidiaries (collectively), operates its businesses in two segments, electronic publishing and securities research and brokerage. Our electronic pu..

Grupo Televisa S.A. ..ited liability stock corporation, which was organized under the laws of Mexico in accordance with the Ley General de Sociedades Mercantiles, or Mexica..

United Fire & Casualty Company ..ted Fire & Casualty Company or United Fire & Casualty Company and its consolidated subsidiaries and affiliate, as the context requires. We are engaged..

United Natural Foods Inc. ..nd organic foods and related products in the United States. We believe that we are the primary distributor of natural and organic products to a majori..

Urologix Inc. ..theter-based therapies that use a proprietary cooled microwave technology for the treatment of benign prostatic hyperplasia (BPH), a disease that affe..

UST Inc. ..ware corporation to serve as a new publicly-held holding company for United States Tobacco Company (USTC), which was formed in 1911. Pursuant to a reo..

VSE Corporation ..nt company primarily serves as a centralized management and consolidating entity for the business operations conducted by the Companys wholly owned su..

Valor Communications Group Inc. ..e of the largest providers of telecommunications services in rural communities in the southwestern United States and, based on the number of telephone..

Ventas Inc. ..in 1985. We own a geographically diverse portfolio of healthcare and senior housing facilities which, as of December 31, 2004, consisted of 201 skille..

WD-40 Company ..ly one petroleum-based product, known as WD-40. WD-40 is a multi-purpose product which acts as a lubricant, rust preventative, penetrant, cleaner and ..

Woodward Governor Company ..nd services energy control systems and components for aircraft and industrial engines and turbines. Leading OEMs (original equipment manufacturers) th..

Wireless Facilities Inc. ..tion regarding Managements Discussion and Analysis of Financial Condition and Results of Operations) contains forward-looking statements regarding our..

WSFS Financial Corporation ..ft holding company headquartered in Wilmington, Delaware. Substantially all of the Corporations assets are held by its subsidiary, Wilmington Savings ..

XETA Technologies Inc. .., or our), an Oklahoma corporation formed in 1981, is a leading provider of enterprise-class communications solutions. We specialize in providing thes..

York Water Company (The) ..the laws of the Commonwealth of Pennsylvania in 1816. The business of the Company is to impound, purify and distribute water. The Company operates ent..

AmREIT Inc ..EIT) and has elected to be taxed as a REIT for federal income tax purposes. The Company is a fully integrated, self managed equity REIT company with, ..

ABN AMRO CAP FDG TR V ..N.V. We are a public limited liability company incorporated under Dutch law on May 30, 1990. For more information, see Item 4. Information on the Comp..

ACME Communications Inc. ..broadcast television stations in medium-sized markets across the United States. Eight of these television stations are network affiliates of The WB Te..

Advanced Life Sciences Holdings Inc. ..ooking statements that involve risks and uncertainties, as well as assumptions that, if they never materialize or prove incorrect, could cause the res..

Applied Industrial Technologies Inc. .. to Applied Industrial Technologies, Inc., an Ohio corporation. References to we, us, our, and the company refer to Applied and its subsidiaries. The ..

ABM Industries Incorporated ..rgest facility services contractors listed on the New York Stock Exchange. With annual revenues in excess of $2.4 billion and approximately 70,000 emp..

Alaska Communications Systems Group Inc. ..ications Systems Group, Inc. and its consolidated subsidiaries (we, our, us the Company, and ACS Group) on Forms 10-K, 10-Q and 8-K and the documents ..

Automatic Data Processing Inc. ..elaware in 1961 (together with its subsidiaries ADP or the Registrant), is one of the largest providers of computerized transaction processing, data c..

Atlas Pipeline Partners L.P. ..STATEMENTS REGARDING EVENTS AND FINANCIAL TRENDS WHICH MAY AFFECT OUR FUTURE OPERATING RESULTS AND FINANCIAL POSITION. SUCH STATEMENTS ARE SUBJECT TO ..

Arlington Tankers LTD. ..he laws of Bermuda as a jointly owned subsidiary of Stena AB (publ), or Stena, and Concordia Maritime AB (publ), or Concordia, a Swedish company and a..

Credicorp Ltd. ..ted in Bermuda in 1995 to act as a holding company, coordinate the policy and administration of its subsidiaries and engage in investing activities. C..

Bio-Rad Laboratories Inc. ..ad) was initially engaged in the development and production of specialty chemicals used in biochemical, pharmaceutical and other life science research..

BRUNSWICK BANCORP .. bank holding company registered under the Bank Holding Company Act of 1956, as amended (the Bank Holding Company Act). BB was organized under the law..

Cash America International Inc. .. in 1984 to engage in the business of owning and operating pawnshops. Since that time, the Company has significantly broadened the geographic scope of..

Brilliance China Automotive Holdings Limited ..lliance China Automotive Holdings Limited was established as an exempted company with limited liability under the laws of Bermuda on June 9, 1992. Bri..

CKX Inc. ..ecessors, will be referred to in this Form 10-KSB Annual Report by terms such as we, us, our, CKX, the registrant and the Company, unless the context ..

Cost-U-Less Inc. ..e stores in the United States Territories (U.S. Territories), foreign island countries in the Pacific and the Caribbean, the Hawaiian Islands and Sono..