The extension of this agreement, originally entered into in 1990 and extended in 1996, will facilitate the pursuit of long-term objectives developed by the Power and Frère/CNP groups in connection with their joint interest in the Pargesa group. Pargesa Holding SA, through its affiliate, Groupe Bruxelles Lambert, holds significant interests in a number of large industrial companies. Power Financial Corporation (TSX: PWF ) is a diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States and Europe. It also has substantial holdings in a diversified industrial group based in Europe. Power Financial Corporation is a member of the Power Corporation group of companies.