Prospectus excerpt:  The 5.00% Non-Cumulative First Preferred Shares, Series D (the ‘‘Series D First Preferred Shares’’) will be entitled to fixed non-cumulative preferential cash dividends, if, as and when declared by the Board of Directors, at a rate equal to $1.25 per share per annum. The initial dividend, if declared, will be payable January 15, 2006 and will be $0.30137 per share, based upon an anticipated issue date of October 19, 2005. Thereafter, dividends will be payable quarterly at a rate of $0.3125 per share. Certain provisions relating to the Series D First Preferred Shares are summarized under ‘‘Details of the Offering’’.

On and after October 31, 2010, Power Corporation of Canada (‘‘Power Corporation’’ or the ‘‘Corporation’’) may, on not less than 30 nor more than 60 days’ notice, redeem for cash the Series D First Preferred Shares in whole or in part, at the Corporation’s option, at $26.00 per share if redeemed prior to October 31, 2011, $25.75 if redeemed on or after October 31, 2011 and prior to October 31, 2012, $25.50 if redeemed on or after October 31, 2012 and prior to October 31, 2013, $25.25 if redeemed on or after October 31, 2013 and prior to October 31, 2014 and $25.00 if redeemed on or after October 31, 2014, in each case together with all declared and unpaid dividends to but excluding the date of redemption. See ‘‘Details of the Offering’’.