SHEAR BRUCE A

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	Company	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value	Details
2004-05-21	2004-05-20	PHC Inc (PHC)	B Purchase	75,646 +41.9% 97.39 US$3,851,279	75,646 +41.9%	97.39	US$3,851,279
2004-05-19	2004-05-18	PHC Inc (PHC)	B Purchase	52,870 +12.7% 29.62 US$4,803,740	52,870 +12.7%	29.62	US$4,803,740