2004 Executive Compensation -- Hitting the Jackpot

Previous Year Total: C$1,441,805

Percentage Change: 82%

3) ALAN F. SCHULTZ, 45

CEO, President and Director

Valassis Communications,

Livonia, MI

Salary + Bonus: $1,287,415

Other Compensation: $12,400

Total: $1,299,815

Previous Year Total: $1,276,200

Percentage Change: 2%

4) TIMOTHY C. TUFF, 56

Chairman, President and CEO