LEGISLATION SETS THE STAGE FOR STRONGER, LARGER INFORMATION SERVICES CORPORATION

A bill introduced in the legislature today will provide for the sale of shares in the provincially-owned Information Services Corporation (ISC), moving forward on a commitment to open the door to expanded markets and growth opportunities for the company.

"ISC has built a Saskatchewan success story that other jurisdictions have shown interest in doing business with," Minister responsible for ISC Don McMorris said. "A privately-operated ISC will have the ability to use that advantage to enter into new markets that a Crown-owned company would not."

ISC is unique among registry providers in Canada with experience ranging from building leading-edge registry systems to modernizing aging registry systems. ISC also has experience in geomatics, data and web portal development.

The province will retain 40 per cent of the shares in the company, which will maintain an ongoing dividend stream for the government from ISC. Approximately 60 per cent of the company's shares will be offered to the public, which should raise between $90 million and $120 million, depending on market conditions at the time of sale.

Proceeds from the sale will be used to address infrastructure priorities as the province experiences a period of unprecedented growth.

There will also be a "golden share" that ensures ISC's head office will remain in Saskatchewan.

In order to ensure personal records remain secure, the Vital Statistics function currently held by ISC will be transferred to executive government.

Any rate increases will be tied to the annual rate of inflation as indicated by the Consumer Price Index (CPI).

Out of the 60 per cent of shares that will be part of the initial public offering, 45 per cent of the shares will be available for Saskatchewan citizens who have the opportunity to individually own shares in the company. Five per cent of the shares will be held for company employee purchase, and the remainder will be available to outside investors.

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For more information, contact:

Angela Bethune
Information Services Corp.
Regina
Phone: 306-798-2136
Email: angela.bethune@isc.ca
Cell: 306-529-5480

Randy Burton
Crown Investments Corp.
Regina
Phone: 306-787-5889
Email: rburton@cicorp.sk.ca
Cell: 306-535-7784