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NEWS RELEASES

July 25, 2003 (3:55 p.m. EDT) No. 106

APPOINTMENT TO EXPORT DEVELOPMENT CANADA BOARD

International Trade Minister Pierre Pettigrew today announced the appointment of Raymond C. Setlakwe as a Director of Export Development Canada (EDC).

Mr. Setlakwe is currently President and CEO of A. Setlakwe Ltd., a retail chain with 17 stores and boutiques throughout Quebec. He is also President and CEO of Saint-Hilaire Inc. Mr. Setlakwe served as Director of Sintra from 1964 to 2002 and of Hydro Quebec from 1993 to 1995. Until recently he was also a Director of the Retail Council of Quebec.

Mr. Setlakwe earned a BA from Bishop's University and an LLL from Laval University. He also studied law at McGill University. He is a member of the Thetford Mines Hospital Foundation and the Bishop's University Foundation. Mr. Setlakwe is currently a director of the Montreal Heart Institute Research Fund. From 1976 to 1978, he was a member of the Sherbrooke University Corporation and from 1975 to 1985, he was a member of the Bishop's University Corporation. Mr. Setlakwe served as a Senator for the past three years and retired on July 3, 2003.

EDC is a Crown corporation that operates as a commercial financial institution. For more than five decades, it has provided a full range of trade finance products and services to help Canadian exporters and investors capitalize on opportunities around the world. In 2002, EDC supported over $51 billion in exports and international investments, and served more than 7,200 customers, 91 percent of which were small and medium-sized businesses.

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