DIVIDEND DEADLINES

CIRI's dividend policy states that the total CIRI dividend payment to shareholders in any given year is equal to 3.50 percent of total shareholders' equity, calculated as of December 31 of the prior year. The CIRI Board is expected to set the dates of record for 2012 shareholder distributions in late February. 2012 dividend amounts will be calculated shortly before the date of record for the first quarter dividend distribution, which generally falls within the last two weeks of March.

As the first step in the process, the Company's 2011 accounting books must be "closed," which means all 2011 expenses and income must be received and either paid or properly accounted for. Next, the accounting and finance department will prepare CIRI's 2011 financial statements, after which an independent accounting firm is retained by CIRI to review its financial statements and confirm their accuracy. This process will determine CIRI's total shareholders' equity upon which the 2012 dividends will be based.

Once the Board declares a dividend, the information will be available on this recording, on the website and in the Raven's Circle newsletter. Once calculated, a table containing the dates and amounts for each type of payment CIRI expects to issue to shareholders in 2012 will be posted on CIRI's website.

TAX REMINDER

As a reminder, these payments are taxable income to shareholders. CIRI is unable to withhold taxes from dividends. Shareholders who anticipate owing tax on their dividends may make quarterly estimated tax payments directly to the Internal Revenue Service themselves. Consult a tax advisor to learn more about making quarterly estimated tax payments or contact the IRS directly. CIRI cannot provide tax advice.

CIRI's accounting and finance department is currently determining the proper treatment of the various types of distributions CIRI made to shareholders in 2011 with respect to IRS Forms 1099 reporting requirements. Once determined, the information will be available on this recording, on the CIRI website and in the Raven's Circle newsletter. CIRI's IRS Forms 1099 will be mailed to shareholders no later than January 31, 2012, as required by law.

Elders' Settlement Trust payments

The 2012 CIRI Elders' Settlement Trust payments are scheduled for March 9, June 8, Sept. 14 and Dec. 14. Original shareholders who are 65 years of age or older and who own at least one share of CIRI stock as of those dates are eligible to receive the $450 payments.

For the March distribution, eligible Elders who have their CIRI dividends directly deposited will have their trust payments electronically transmitted to the same account by 6 p.m. Alaska Standard Time on Friday, March 9. Eligible Elders who do not participate in direct deposit will have their payments mailed in check form on March 9.

The deadline for signing up for direct deposit, changing an existing direct deposit instruction or updating an address for the next Elders' Trust distribution is 3 p.m. on Friday, March 2. Direct deposit forms are available from Shareholder Relations, and may also be printed from CIRI's website. To cancel direct deposit, please submit a signed, written request prior to 3 p.m. on March 2.