Recent Purchases

This week I have added to my holdings in Stella Jones (SJ) and Martinrea (MRE). Also, I purchased shares of Le Chateau (CTU.A). Le Chateau is a leading Canadian brand in specialty retailing offering a broad array of contemporary fashion apparel, accessories and footwear for women and men. The Le Chateau brand is sold exclusively through the Company's 195 retail locations across Canada, except for five locations in the New York City area. The Company's outlets are primarily found in major urban shopping malls and complemented with high pedestrian-traffic, street-front locations. The Company has a 47-year tradition of vertical integration from design and manufacturing to retailing.

Le Chateau was trading at a P/S of 1.08, a P/E of 12.78, has interim revenue growth of 15.7% and interim earnings/share growth of 36.4%. Add to that a 3.5% dividend. Earnings per share has increased every year since 2002.

Another Canadian addition to my portfolio this week is BFI Canada Income Fund. BFI Canada Income Fund, through its subsidiaries, is one of North America's largest full-service waste management companies, providing non-hazardous solid waste collection and disposal services for municipal, commercial, industrial, and residential customers in five Canadian provinces and nine states in the United States. The Fund serves over one million customers with vertically integrated collection and disposal assets. BFI has increased its payout every year since 2002 and currently yields 6.6%. Interim revenue is up 15.2% and interim earnings/share is up 43.5%. On September 07, 2007, ScotiaCapital issued an Outperform rating for BFI.