KBSH LEADERS TRUST - Declares Monthly Distribution Toronto, May 2nd, 2003: Leaders Trust (KLT.UN), an investment trust trading on The Toronto Stock Exchange, announced today that it will make a monthly distribution of $0.14083 per unit, payable on May 30th, 2003, to all unitholders of record as of May 15, 2003 (ex-dividend date May 13th, 2003). The distribution represents an annualized rate of approximately 10% of the current net asset value of the trust. Since the KBSH Leaders Trust’s inception on May 17, 2002 the S&P 500 Index has declined by 23% in Canadian dollar terms. It is the opinion of the trust’s investment manager, KBSH Capital Management, that continuing the distributions at the original targeted level of $0.2083 per month puts at risk the integrity of the trust’s original investment objectives of paying a monthly distribution and returning the original issue price of $25.00 at the termination of the trust at December 31, 2010. The trust will endeavour to resume the original targeted distributions when market conditions permit. The management fee paid to KBSH Capital Management will be reduced pro rata in relation to the reduction in distributions. For further information contact: Paul Batho Chief Operating Officer and Secretary/Treasurer KBSH Capital Management Inc. Telephone: (416) 863-1433