WALLER TO LEAVE CIC TO RETURN TO LAW PRACTICE

Premier Lorne Calvert announced today that he has accepted, with regret, the resignation of Tom Waller, Q.C., as President and CEO of Crown Investments Corporation (CIC). Mr. Waller has decided to return to his law practice after serving as head of the Crowns' holding company since March 1st, 2004.

"Mr. Waller has provided excellent leadership to the Crown sector over the past two years," Calvert said. "In September 2003, I outlined a new direction for our Crown corporations. Mr. Waller was highly qualified to lead our Crowns as we began that journey. As a result of his guidance, I believe we are well positioned to have a strong, vibrant, innovative Crown sector for years to come."

Waller has agreed to stay on until March 2006 to assist with the transition for his successor, who is expected to be appointed in the coming weeks.

"Our most significant achievements in the Crown sector over the past two years include development and implementation of the Saskatchewan Energy Share and fulfillment of our commitment to provide Saskatchewan people with the lowest-cost bundle of basic residential utility rates in Canada," Crown Management Board Minister Pat Atkinson said. "Mr. Waller was also responsible for overseeing corporate renewal and improved accountability in our Crowns, a $20 million initiative to hire more young and Aboriginal people, and the establishment of a foundation and fund for aspiring and existing entrepreneurs."

"I believe we've accomplished a lot over the past two years and I'd like to thank the Premier, his Cabinet colleagues, and officials at CIC, the Crowns and throughout government who have worked together on behalf of Saskatchewan citizens," Waller said. "I leave with the knowledge that the Crown sector and its leaders are committed to building on the progress we have made, and I am confident that they will achieve further success."

"I am sorry to see Mr. Waller leave CIC, but I understand his desire to resume his law practice," Calvert said. "I wish him the best of luck as he returns to his firm, and I thank him for his service to the people of Saskatchewan."

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For More Information, Contact:

Karen Schmidt CIC Regina Phone: (306) 787-5889

Tyler McMurchy Media Services Regina Phone: (306) 787-5780 Cell: (306) 539-1902