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Ottawa, February 23, 1996
1996-012

Minister of Finance Announces Appointments to the Bank of Canada Board of Directors

Finance Minister Paul Martin today announced the appointments of six individuals from all regions of Canada to the Board of Directors of the Bank of Canada . They are Winston Baker of Newfoundland, Walter Dubowec of Manitoba, Joseph Segal of British Columbia, Aldéa Landry of New Brunswick, Raymond Garneau of Québec and James Sharp Hinds of Ontario.

Mr. Baker is currently President of WB Holdings Ltd. in St. John's and former Newfoundland and Labrador Finance Minister. Mr. Dubowec is a chartered accountant and former Office Managing Partner with Deloitte & Touche in Winnipeg. Mr. Segal is currently Chancellor of Simon Fraser University in Vancouver and President of Kingswood Capital Corporation.
Ms. Landry is a lawyer currently President of Landal inc., associate of J.F.L. Arbitration Services, inc. and President of Globtec Consortium in Moncton. Mr. Garneau is currently President and Chief Executive Officer of Industrial-Alliance Life Insurance Company in Montreal. Mr. Hinds is a law partner of Hinds & Sinclair in Sudbury.

In making the announcement, Mr. Martin noted that "As a group, these individuals represent incredible knowledge of corporate governance".

The appointments will take effect March 1st, 1996.

Biographical notes are attached.

___________________

For further information:

Nathalie Gauthier
Press Secretary
(613) 996-7861

Honourable Winston Baker

Winston Baker - born December 17, 1939 in Grand Bank, Newfoundland; currently President, WB Holdings Ltd.; graduate of Memorial University, B.Sc. (1961); graduate work in Fisheries and Environmental Biology; University of Toronto Graduate Studies in Education; former Member of the Newfoundland House of Assembly (1985-1995); former Deputy Premier of the Governement of Newfoundland & Labrador (1989-1995); former Minister of Finance, President of Treasury Board, President of Executive Council, Government of Newfoundland & Labrador (1989-1995); former Opposition Spokesman for Finance and Newfoundland Hydro (1985-1989); former Chairman, Public Accounts Committee (1985-1989); former Deputy Mayor of Gander (1981-1985); former High School Teacher (Maths and Sciences) in Newfoundland and Ontario.

Walter Dubowec, F.C.A.

Walter Dubowec - born March 23, 1932 in Winnipeg, Manitoba; an accountant; was educated in Winnipeg; was admitted as a member of the Institute of Chartered Accountants of Manitoba (1956); obtained license as a trustee in Bankruptcy (1972); member of the Canadian and Manitoba Institutes of Chartered Accountants; joined Winnipeg Office of Deloitte & Touche (1956); Office Managing Partner (1975) until retirement (August 1994); he lectured part-time at the University of Manitoba, the Manitoba Institute of Chartered Accountants and served on the CICA Board of Examiners; former member of Council of the Manitoba Institute; actively involved in several community-based organizations.

Joseph Segal, C.M, O.B.C., LL.D.

Joseph Segal - born January 12, 1925, in Vegreville, Alberta; currently Chancellor of Simon Fraser University; President of Kingswood Capital Corporation; Chairman of First National Properties; Chairman of Sterling Shoes; Chairman of E-Z Rect Manufacturing Ltd., and Allied Engineering; Chairman of Stork Craft Manufacturing Inc.; Honorary Doctor of Laws Degree - Simon Fraser University; Founder of Fields Stores (1976); former Chairman of Zellers; former Chairman of Collegiate Sporting Goods; and Sports Experts (1986); involved in establishing Simon Fraser University Harbour Centre downtown campus; actively involved in several community-based organizations.

Aldéa Landry, Q.C.

Aldéa Landry - born December 27, 1947, in Ste-Cécile, New Brunswick; currently President of Landal inc., associate of J.F.L. Arbitration Services inc. and President of Globtec Consortium; Bachelor of Law (LL.B.), University of New Brunswick (1971); admitted to the New Brunswick Bar (June 1971); appointed Queen's Council (December 1987); Bachelor of Arts, Collège Jésus-Marie (Université de Moncton - 1967); 1987-1991: former Member of the New Brunswick Legislative Assembly; former Deputy Premier; former President of the Executive Council; former Minister of Intergovernmental Affairs; former Minister responsible for Regional Economic Development and former Acting Minister of Fisheries (November 1988-June 1989) and former Acting Minister of Housing (August 1991-October 1991); former partner of Tremblay, Landry, Landry law firm (1977-1987); currently member of the Atlantic Provinces Economic Council; currently member of the New Brunswick Economic Council; currently President of the Committee on Gender Equality of the New Brunswick Bar; former member of the New Brunswick Human Rights Commission (1971-1978); former member of the Advisory Council on the Status of Women - New Brunswick (1977-1979); actively involved in several community-based organizations.

Raymond Garneau

Raymond Garneau - born January 3, 1935, in Plessisville, Québec; currently President and Chief Executive Officer of Industrial-Alliance Life Insurance Company (joined the company in 1988 as President and Chief Operating Officer); has a Master's Degree in Commercial Sciences from Laval University, Québec (1958); has a licence in Economics form the University of Geneva, Switzerland (1963); former Member of the National Assembly for Jean-Talon (1970-1978); former Minister of Public Service, Minister of Finance and President of the Treasury Board and former Minister of Education; former Vice-President - Development of the Laurentian Group (1979); former Chairman of the Fonds F.I.C. Inc. and former Chairman of Alfred Lambert Inc and former Deputy Chairman of the Fonds Laurentien Inc. (1979-1980); former Chairman and Chief Executive Officer of the Montreal City and District Savings Bank and former Chaiman and Chief Executive Officer of Crédit Foncier Inc. (1980-1981); former Member of Parliament for Laval-des-Rapides (1984-1988); member of Boards of Directors of Quebec-Telephone, Phillips Cables, Sodarcan, Laval University, Foundation for Educational Exhange Between Canada and the United States of America (Canada-U.S. Fulbright Program); member, and former Chairman (1994-1995), of the Board of the Canadian Life and Health Insurance Association; actively involved in several community-based organizations.

James Sharp Hinds

James Sharp Hinds - born June 19, 1931, in Sudbury, Ontario; currently partner of Hinds & Sinclair; Bachelor of Arts, University of Toronto (1954); Bachelor of Laws, Osgoode Hall Law School (1958); admitted to the Bar of Ontario (1958); appointed Queen's Counsel (1979); former member of the Board of Directors of the Canadian Broadcasting Corporation (1968-1972), of the Board of Directors of the Canadian National Railways (1973-1987) and of Ontario Hydro (1987-1996).