June 27 (Reuters) - The Futura Corporation:
* THE FUTURA CORPORATION AND ARBUTUS DISTRIBUTORS ANNOUNCE NON-BINDING PROPOSAL TO TAKE TREE ISLAND STEEL PRIVATE AT $2.25 PER COMMON SHARE
* THE FUTURA CORPORATION - FUTURA, ARBUTUS DISTRIBUTORS COLLECTIVELY OWN APPROXIMATELY 14.7 MILLION SHARES OF TREE ISLAND STEEL LTD
* THE FUTURA CORPORATION - FUTURA, ARBUTUS DISTRIBUTORS ARE CONTROLLED BY TREE ISLAND STEEL DIRECTORS, AMAR DOMAN AND PETER BULL, RESPECTIVELY
* THE FUTURA CORPORATION - FUTURA, ARBUTUS DISTRIBUTORS INDICATED TO TREE ISLAND STEEL BOARD THAT THEY WILL NOT ENTERTAIN AN ALTERNATIVE TRANSACTION