City Investing Co Liquidating Trust Watch

from 10-Q 1 page <page> Exhibit 1 Action of Trustees Under City Investing Company Liquidating Trust Agreement the Undersigned, Trustees Under the City Investing Company Liquidating Trust Agreement (The "Trust Agreement") Dated September 25, 1985, by and Between City Investing Company and the Undersigned, Hereby Take the Following Action Pursuant to Section 6.2 (Q) of the Trust Agreement: Resolved That, Because Certain Contingent Liabilities May Not Be Resolved Prior to September 25, 2005 the Existence of the Trust Is Hereby Extended Until the Earlier of (A) the Complete Distribution of the Trust Estate or (B) September 25, 2006, Unless an Earlier Termination Is Required by the Applicable Laws of the State of Delaware or by the Action of the Beneficiaries as Provided in Section 4.2 of the Trust Agreement or a Later Termination Is Required by the Trustees Pursuant to Section 6.2 (Q) of the Trust Agreement. in Witness Whereof, the Undersigned Have Caused This Action to Be Taken as of the 29th Day of July of 2005. Charles R. Carson Trustee John J. Quirk Trustee Lester J. Mantell Trustee

from 10-Q/A 1 page Exhibit 1 Action of Trustees Under City Investing Company Liquidating Trust Agreement the Undersigned , Trustees Under the City Investing Company Liquidating Trust Agreement (The "Trust Agreement") Dated September 25, 1985, by and Between City Investing Company and the Undersigned, Hereby Take the Following Action Pursuant to Section 6.2 (Q) of the Trust Agreement: Resolved That, Because Certain Contingent Liabilities Cannot Be Resolved Prior to September 25, 2002, the Existence of the Trust Is Hereby Extended Until the Earlier of (A) the Complete Distribution of the Trust Estate or (B) September 25, 2003, Unless an Earlier Termination Is Required by the Applicable Laws of the State of Delaware or by the Action of the Beneficiaries as Provided in Section 4.2 of the Trust Agreement or a Later Termination Is Required by the Trustees Pursuant to Section 6.2 (Q) of the Trust Agreement. in Witness Whereof, the Undersigned Have Caused This Action to Be Taken as of the 30th Day of July of 2002. /S/ Eben W. Pyne Eben W. Pyne Trustee /S/ John J. Quirk John J. Quirk Trustee /S/ Lester J. Mantell Lester J. Mantell Trustee