On November 28, 2001 stockholders of Kaiser Ventures Inc. (NASDAQ: KRSC) approved the plan to convert Kaiser Inc. into a limited liability company and distribute much of its cash on a tax advantaged basis. The conversion was effective on November 30, 2001, at which time each share of Kaiser Inc. Common Stock was automatically converted into the right to receive $10 in cash plus one Class A Unit (valued for tax purposes at $1.50 per unit) in Kaiser Ventures LLC ("Kaiser LLC"). Kaiser Ventures, Inc. Common Stock ceased trading on the NASDAQ Stock Market as of midnight on November 30, 2001. Members will receive a federal K-1 for each future year reflecting their respective share of the Company's annual profited loss. Also, to help stockholders determine the tax basis of shares they may have previously purchased or received, Kaiser has established a link to its historical average monthly closing stock prices covering the period from October 1990 to November 2001.