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<p><span style="font-size: 14pt"><span style="font-weight: bold">May 5, 2005 <i>(1:30 p.m. EDT)</i><br>
No. 79</span></span></p>
<br>
<p style="text-align: center"><span style="font-weight: bold"><span style="font-size: 14pt">CANADA ACCOUNT TRANSACTION FOR AEROSPACE INDUSTRY</span></span></p>
<br>
<br>
<p>International Trade Minister Jim Peterson today announced the second transaction
under the $1.2 billion financing facility set up in July 2003 as part of the Canada
Account. The facility, established to support export sales of regional aircraft to various
buyers, builds on the government’s efforts to create a level playing field for the industry.</p>
<br>
<p>Export Development Canada (EDC), which manages and administers the Canada
Account, has negotiated loans of approximately US$230 million to Delta Air Lines
subsidiaries Comair and Atlantic Southeast Airlines for the acquisition of Bombardier jet
aircraft to add to the airlines’ existing fleet of Canadian regional jets.</p>
<br>
<p>“As a world leader in the aerospace industry, Bombardier contributes directly to a strong
manufacturing sector by providing thousands of jobs across the country,” said Minister
Peterson. “Canada’s aerospace sector is one of the largest in the world and a major
driver of Canadian R&D and innovation.”</p>
<br>
<p>The financing of this transaction has been structured in accordance with commercial
principles and is in full conformity with Canada’s international trade obligations.
Information about Canada Account transactions is available on EDC’s Web site at
<a href="https://bac-lac.wayback.archive-it.org/web/20070220190441/http://www.edc.ca/"><span style="color: #0000ff"><span style="text-decoration: underline"></span></span></a><span style="color: #000000"></span><a href="https://bac-lac.wayback.archive-it.org/web/20070220190441/http://www.edc.ca/CanadaAccount"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.edc.ca/CanadaAccount</span></span></a><span style="color: #000000">.</span></p>
<br>
<p><span style="color: #000000">The aerospace industry influences the output and performance of many other sectors
of the Canadian economy. It is a vital incubator of advanced technologies, bringing
together a critical mass of Canadian firms that are helping to build a future economy
based on high-tech, value-added products.</span></p>
<br>
<p style="text-align: center"><span style="color: #000000">- 30 -</span></p>
<p><span style="color: #000000">A backgrounder is attached. </span></p>
<br>
<p><span style="color: #000000">For further information, media representatives may contact:</span></p>
<br>
<p><span style="color: #000000">Andrea Lanthier<br>
Press Secretary<br>
Office of the Minister of International Trade<br>
(613) 992-7332</span></p>
<br>
<p><span style="color: #000000">Media Relations Office<br>
International Trade Canada<br>
(613) 995-1874<br>
</span><a href="https://bac-lac.wayback.archive-it.org/web/20070220190441/http://www.international.gc.ca/"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.international.gc.ca</span></span></a><span style="color: #000000"></span></p>
<br>
<p style="text-align: center"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">Backgrounder</span></span></span></p>
<br>
<p style="text-align: center"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">CANADA ACCOUNT</span></span></span></p>
<br>
<p><span style="color: #000000">Export Development Canada (EDC) provides trade finance and risk management
services to Canadian exporters and investors in up to 200 markets, making it possible
for these companies to compete internationally. It is financially self-sustaining, and is
accountable to Parliament through the Minister of International Trade.</span></p>
<br>
<p><span style="color: #000000">The vast majority of transactions facilitated by EDC on behalf of Canadian companies
are done under EDC’s Corporate Account. However, transactions that fall outside the
capacity of the Corporate Account can be considered under EDC’s Canada Account.</span></p>
<br>
<p><span style="color: #000000">EDC requires the authorization of the Minister of International Trade, with the
concurrence of the Minister of Finance, before entering into a Canada Account
transaction.</span></p>
<br>
<p><span style="color: #000000">Canada Account transactions are negotiated, executed and administered by EDC, but
the risks ultimately rest with the Government of Canada.</span></p>
<br>
<p><span style="color: #000000">Additional Canada Account information can be found in EDC’s annual report, on its
Web site at </span><a href="https://bac-lac.wayback.archive-it.org/web/20070220190441/http://www.edc.ca/"><span style="color: #0000ff"><span style="text-decoration: underline"></span></span></a><span style="color: #000000"></span><a href="https://bac-lac.wayback.archive-it.org/web/20070220190441/http://www.edc.ca/annualreport"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.edc.ca/annualreport</span></span></a><span style="color: #000000"> and in the Public Accounts published by the
Government of Canada.</span></p>
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