UNDERWRITING AGREEMENTCentral Fund of Canada LTD • July 28th, 2006 • Investors, nec • Ontario
CIBC World Markets Inc., (the "Underwriter"), understands that Central Fund of Canada Limited (the "Corporation") proposes to issue and sell to the Underwriter 6,800,000 class A non-voting shares ("Class A Shares") in the capital of the Corporation (the "Underwritten Shares"). We further understand that the Corporation has prepared and filed a preliminary short form prospectus, a registration statement and all necessary documents relating thereto and will take all additional necessary steps to qualify or register the Underwritten Shares for distribution in each of the Qualifying Provinces (as defined below) and in the United States, as applicable.
