February 27, 1998 No. 39

APPOINTMENTS TO THE BOARD OF DIRECTORS OF

THE EXPORT DEVELOPMENT CORPORATION

International Trade Minister Sergio Marchi today announced the appointment of Robert A. Fung to the Board of Directors of the Export Development Corporation (EDC), and the reappointments of Dorothy E. Byrne, Huguette Labelle, and James A. Pattillo to the EDC's 15-member Board.

As Canada's official export credit agency, EDC is a unique financial institution that strengthens the global competitiveness of Canadian exporters and investors in more than 200 countries by offering some of the most sophisticated trade finance skills available in Canada today. In 1997, EDC's business volume was $28.6 billion -- exceeding 1996's record level of $22 billion.

The appointments are effective immediately.

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Biographical notes are attached.

For further information, media representatives may contact:

Leslie Swartman

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874

This document is also available on the Department's Internet site: http://www.dfait-maeci.gc.ca

BIOGRAPHICAL NOTES

Robert A. Fung brings to the Board years of expertise in corporate finance and investment banking. Mr. Fung is a senior partner of Capital West Partners, a group of senior investment bankers providing corporate and financial advice and strategy in the areas of mergers acquisition and capital markets to high net-worth entrepreneurs and corporations. Prior to his present position, Mr. Fung was Vice-Chairman at Gordon Capital Corporation of Toronto, and also held positions with RF Aviation Ltd., Dominion Securities Ltd., and Wood Gundy. He is also a member of a number of boards of directors for private and charitable organizations, as well as the Minister's Team Canada Inc Advisory Board.

Dorothy E. Byrne is Vice-President of Law and Regulatory Affairs and Corporate Secretary at BC TELECOM Inc. and BC TEL. She first joined BC TEL in 1971 and then left to attend law school at the University of British Columbia in 1974. She was called to the British Columbia bar in 1978, and returned to BC TEL in 1979. Ms. Byrne also holds a Bachelor of Arts degree from Carleton University and a Master of Science in Management degree from Stanford University.

Huguette Labelle is President of the Canadian International Development Agency (CIDA). Previously, Ms. Labelle was Deputy Minister of Transport, and Chairman of the Public Service Commission. She holds a Doctor of Philosophy in Education degree from the University of Ottawa, and has received honorary doctorates in Law from Brock University, the University of Saskatchewan, Carleton University, the University of Ottawa, York University, the University of Windsor, and the University of Manitoba. In 1990, she was invested as an officer of the Order of Canada.

James A. Pattillo is President and Chief Executive Officer of XL Foods Ltd., a strategically integrated food production company, and Pattillo Corporation and Capital Management, a management and holding company. Mr. Pattillo holds an Honours Business Degree from the University of Western Ontario, and has held positions at Dominion Securities Ltd. and Wood Gundy.