November 15, 2005

To All Participants:

The Board of Trustees of the Sheet Metal Workers’ Local 73 Annuity Plan is pleased to announce an extension of the following temporary change to the Annuity Plan:

Because of the current state of unemployment, effective for the period of March 1, 2005 through February 28, 2006, the Trustees are able to temporarily change the termination of employment rules to help participants who have worked 480 hours or less in any six calendar month period within the 12 months ending February 28, 2006. This means that a participant is eligible for a one-time distribution up to a maximum of 25% of his or her account balance after having worked 480 hours or less in the industry during any six calendar month period within the 12 months indicated above and would be considered terminated from employment for purposes of eligibility to receive a distribution of their account balance. If you have previously received a one-time 25% distribution from the Annuity Plan you are not eligible for an additional 25% distribution from the Plan.

For example, if you had 480 hours or less of work in any six calendar month period between March 1, 2005 and February 28, 2006, you would be eligible for a one-time distribution up to a maximum of 25% of your account balance under this temporary provision. There is a one month delay in payment because hours are reported by employers in the month following the month the hours are worked.

This temporary change is meant to help those who are unemployed during this recessionary period. Participants will have until July 1, 2006 to apply for this one-time distribution. If you have a hardship loan outstanding from the Fund you may not be able to take this withdrawal. Please contact the Fund Office for further details regarding this situation.

Important! If you are under 59 ½ at the time you make the withdrawal, the withdrawal will be subject to normal taxes plus a penalty tax imposed by the IRS. Therefore, you may want to consult with a professional tax advisor before you take payment of your benefits from the Plan.

If you have any questions, please contact the Annuity Department at 708-449-7373, ext. 2 and the customer service representatives will be happy to assist you.

Sincerely,

Board of Trustees
Stanley F. Karczynski, Chairman
Robert Schneider
Anthony Scavone
Michael Keeley