<html>
<head>
<meta name="Generator" content="Corel WordPerfect 8">
<title>CANADIAN COMMERCIAL CORPORATION LEGISLATION COMES INTO FORCE</title>
</head>
<body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0">
<p><font face="Arial"></font><font face="Arial" size="+1"></font><font face="Arial" size="+1"></font><font face="Arial" size="+1"><strong>April 19, 2002 <em>(11:50 a.m. EDT)</em> No. 35</strong></font><font face="Arial" size="+1"></font></p>
<p align="CENTER"><font face="Arial" size="+1"><strong>CANADIAN COMMERCIAL CORPORATION LEGISLATION </strong></font></p>
<p align="CENTER"><font face="Arial" size="+1"><strong>COMES INTO FORCE</strong></font></p>
<p><font face="Arial">International Trade Minister Pierre Pettigrew announced today that the new amendments to the Canadian
Commercial Corporation (CCC) Act, which he tabled on November 7, 2001, have now come into force. </font></p>
<p><font face="Arial">"We have strengthened the CCC's financial foundation and its corporate governance,"</font></p>
<p><font face="Arial">said Minister Pettigrew.</font></p>
<p><font face="Arial">The amended CCC Act allows the Corporation to borrow funds in commercial markets as well as to charge a
fee for service on its valued-added business lines. Furthermore, the positions of President of the Corporation
and Chair of the Board of Directors will be separated, in keeping with the government's guidelines for the
management of Crown corporations. </font></p>
<p><font face="Arial">"The Corporation's increased commercial orientation will ensure that it can continue to provide the high quality
expertise and advice that Canadian exporters, particularly small and medium-sized enterprises, have come to
depend on in government procurement markets worldwide, estimated to be worth US$5.3 trillion annually," the
Minister added.</font></p>
<p><font face="Arial">The CCC provides a unique service to facilitate contracts for Canadian exporters. This service means enhanced
credibility for Canadian exporters and increased confidence for foreign buyers, and thus helps Canadian
companies win contracts on solid terms in difficult markets.</font></p>
<p><font face="Arial">The CCC is a valued member of Team Canada. Over the years, the CCC has facilitated over $30 billion in
contracts in more than 100 countries on behalf of Canadian companies, particularly small and medium-sized
enterprises. </font></p>
<p align="CENTER"><font face="Arial">- 30 -</font></p>
<p><font face="Arial">For further information, media representatives may contact:</font></p>
<p><font face="Arial">Sébastien Théberge</font></p>
<p><font face="Arial">Office of the Minister for International Trade</font></p>
<p><font face="Arial">(613) 992-7332</font></p>
<p><font face="Arial">Media Relations Office</font></p>
<p><font face="Arial">Department of Foreign Affairs and International Trade</font></p>
<p><font face="Arial">(613) 995-1874</font></p>
<p><a href="https://bac-lac.wayback.archive-it.org/web/20070221133111/http://www.dfait-maeci.gc.ca/"><font face="Arial">http://www.dfait-maeci.gc.ca</a></font></p>
</body>
</html>
