News Release

For Immediate Release
September 9, 2005


Sydney, Nova Scotia – Enterprise Cape Breton Corporation (ECBC) is pleased to announce the successful negotiation for the sale of the Sydport Industrial Park to the Laurentian Energy Corporation Inc. (LEC) of Sydney.

The $1.255 million price tag together with other negotiated benefits recognizes the capital investment made by the LEC in the Park over the last five years. Parameters for the negotiating process were established by the ECBC Board of Directors and included the protection of the Crown asset, a long-term diversified economic development strategy and environmental responsibilities.

With support from New Dawn Enterprises, BCA Investment Cooperative, the Membertou Development Corporation, and GCB Holdings Limited, the LEC has plans to further develop the Park and will continue to foster its growth as a focal point for industrial activity in the CBRM. “Our shareholders believe the Industrial Park will play a key role in the redevelopment of our Island’s economy and we will continue to aggressively pursue every opportunity to make that a reality,” says Jim Kehoe, President of Laurentian Energy Corporation.

Rick Beaton, Vice-President of ECBC, is satisfied the end result of these negotiations represent a fair deal for all parties and is pleased to recognize the on-going commitment of the LEC and its shareholders to see the Park reach its full potential. “The mutual interest of the organizations and individuals in this project demonstrates a faith in the future of economic growth on the Island. A significant contribution to the restructuring of Cape Breton’s economy will also be realized when the consortium successfully implements their long-term goals,” says Beaton.

Enterprise Cape Breton Corporation offers programs in support of economic development initiatives and is responsible for delivering Atlantic Canada Opportunities Agency’s programs on Cape Breton Island and in the Mulgrave area.

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For further information contact:

Rick Beaton
Vice President
Enterprise Cape Breton Corporation
902 - 564 - 3618