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Ottawa, December 12, 2002
2002-104

Minister of Finance Announces Bank of Canada Appointments

Biographical Notes:

• Paul D. Dicks, Q.C.
• Armin Martens, P.Eng, M.B.A.

John Manley, Deputy Prime Minister and Minister of Finance, announced today two appointments to the Board of Directors of the Bank of Canada.

Paul Dicks and Armin Martens take their positions on the Board effective immediately.

Mr. Dicks has held numerous cabinet posts in the government of Newfoundland and Labrador, including Minister of Justice and Attorney General, Minister of Finance and President of Treasury Board, as well as Minister of Mines and Energy. He currently practises law in St. John’s.

Mr. Martens was a founding director of Consolidated Properties Inc., a publicly traded corporation on the Toronto Stock Exchange, and is currently President and Chief Executive Officer of Marwest Development Corporation, based in Winnipeg, Manitoba.

Biographical notes are attached.

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Biographical Notes

Paul D. Dicks, Q.C.

Paul Dicks is a native of Corner Brook, Newfoundland and Labrador, where he graduated from Regina High School. In 1973 he received a B.A. (Hons.) and B.Ed. from Memorial University of Newfoundland with first class standing in both degrees, and was awarded the Gold Medal in philosophy and the NTA Medal for outstanding student in education.

In 1973 he was also awarded the Sir James Dunn Scholarship to attend Dalhousie Law School, where he received a Bachelor of Laws Degree in 1976.

Following graduation Mr. Dicks practised law in Corner Brook from 1977 until 1989.

From 1989 to 2001 Mr. Dicks represented the District of Humber West in the Newfoundland House of Assembly. During that time he twice served as Minister of Justice and Attorney General (1989-1991 and 1998-1999), as Minister of Finance and President of Treasury Board (1995-2000), and as Minister of Mines and Energy (2000-2001). Mr. Dicks was also elected Speaker of the House, serving from 1993 to 1995. He has chaired the Resource Policy Committee of Cabinet, and was a member of the Planning and Priorities Committee of Cabinet.

Mr. Dicks presently practises law with the law firm of Benson Myles in St. John’s, Newfoundland and Labrador. His preferred areas of practice include: providing legal, policy and strategic advice to both governments and corporations; and advising on mergers and acquisitions, labour and employment law, general corporate and commercial law matters, litigation and natural resource and energy issues.

Armin Martens, P.Eng, M.B.A.

A long-time resident of Manitoba, Mr. Martens graduated from the University of Manitoba with a Bachelor of Science degree in Civil Engineering in 1977. He began work in the construction and real estate development field and became a member of the Association of Professional Engineers of Manitoba in 1979.

Mr. Martens continued his career in the field of commercial real estate development until taking a leave to complete his Master of Business Administration degree at the International Institute for Management Development in Lausanne, Switzerland. During his overseas tenure Mr. Martens was able to complete a variety of consulting projects including one for Daimler-Benz on the subject of international counter-trade.

Mr. Martens was a founding director of Consolidated Properties Inc., a publicly traded corporation listed under the symbol "COP" on the Toronto Stock Exchange.

During his 22 working years and in his capacity as Executive Vice-President of the Marwest Group of Companies, Mr. Martens was able to acquire extensive and valuable business experience. He is currently President and Chief Executive Officer of Marwest Development Corporation, based in Winnipeg, Manitoba.

Mr. Martens has also been actively involved in fostering positive multicultural relations in Canada. He served as president of the Manitoba chapter of the German Canadian Congress for six years and as national president of the German Canadian Congress for five years. In his capacity as national president, Mr. Martens was also a member of the Board of Presidents of the Canadian Ethnocultural Council, based in Ottawa.