At its July 31st board meeting, the CIRI Board declared a special dividend of $50 per share, or $5,000 per 100 shares, to be distributed to CIRI shareholders on Aug. 22. In determining this amount, the CIRI Board took into consideration the advice of the CIRI shareholders as well as an evaluation of the company’s current financial condition. The Board also concluded that the recent reduction in federal income taxes on dividends, enacted as part of President Bush’s tax package, made payment of a dividend at this time more advantageous for shareholders. The shareholders get to keep more of the dividend now because of the tax reduction on dividends.

After distribution of the third quarter and special dividends, CIRI will have paid out since inception approximately $801,000,000 (million). This equates to $127,516 for an at-large CIRI shareholder owning 100 shares since enrollment under ANCSA.

The CIRI Board also declared a 2003 third quarter dividend of $7 per share. Shareholders with 100 shares of stock will receive $700 on Sept. 30.