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, 2003, the existence of the Trust is hereby
extended until the earlier of (a) the complete distribution of the Trust Estate
or (b) September 25, 2004, 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 18th day of June of 2003.
/s/ Xxxx X. Xxxx
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Xxxx X. Xxxx
Trustee
/s/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx
Trustee
/s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
Trustee
