CALVERT SPEAKS IN HONG KONG ABOUT SASKATCHEWAN OPPORTUNITIES

With one-third of Canada's energy production, Saskatchewan offers a powerhouse of energy options for investors, Premier Lorne Calvert told an international business audience in Hong Kong today.

Speaking to the Canadian Chamber of Commerce in Hong Kong at the first official function of his Team Saskatchewan mission, Calvert said global commodities experts note that Saskatchewan is perfectly primed to assist Asia's explosive growth, and that it has much of everything that China, in particular, needs.

The premier said Saskatchewan trades more with China than it does with any country outside of the United States and now ranks as Canada's fourth largest exporting province to China.

"Our relationship is multi-faceted, extending far beyond exports," he said. "It includes co-operation agreements, research projects, cultural exchanges and partnerships between our universities. We are old friends and solid partners. Numerous opportunities exist for us to take our relationship to a new level."

Calvert was in his first full day of meetings on his trade and investment mission to Hong Kong, China, Japan and Kazakhstan. He also met Friday with Li Ka-shing, chairman of Cheung Kong Holdings Ltd. and Hutchison Wampoa Ltd., the parent company of Husky Energy; and with Richard Samuel Elman, Chief Executive Officer of the Noble Group, a global supply chain manager of industrial, agricultural and energy products.

In his Chamber speech, Calvert outlined the province's strengths in oil and natural gas, potash, uranium, wood products, and a wide variety of crops. He also cited Saskatchewan's leadership and expertise in horizontal drilling and carbon dioxide injection technologies, greenhouse gas emissions research, and clean energy research.

He reminded his audience of Saskatchewan/China trading relationships that stretch back nearly 50 years, and of newer business relationships, such as CVIC SE's investment in Saskatchewan-based high technology research projects and the China National Petroleum Corporation's partnership with the Regina-based Petroleum Technology Research Centre.

"Hong Kong is a key market for Saskatchewan businesses because it is an 'important bridge between East and West' and one of the top 10 places in the world for foreign trade and outward direct investment," Calvert said. "A great deal of your trade is with mainland China, and China is Saskatchewan's second largest export market. It is in this context that Hong Kong and Saskatchewan can become stronger partners."

In addition to his keynote address and business meetings, Calvert also met Friday with Hong Kong-area members of the University of Saskatchewan and University of Regina Alumni Associations.

-30-

For More Information, Contact:

Jennifer Redston Industry and Resources Regina Phone: (306) 787-1691