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<title>APPOINTMENTS TO THE BOARD OF DIRECTORS OFEXPORT DEVELOPMENT CORPORATION</title>
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<p><font face="Arial" size="+1"></font><font face="Arial" size="+1"><strong>March 26, 2001 <em>(1:30 p.m. EST)</em> No. 37</strong></font></p>
<p align="CENTER"><font face="Arial" size="+1"><strong>APPOINTMENTS TO THE BOARD OF DIRECTORS OF</strong></font></p>
<p align="CENTER"><font face="Arial" size="+1"><strong>EXPORT DEVELOPMENT CORPORATION</strong></font></p>
<p><font face="Arial">International Trade Minister Pierre Pettigrew today announced the appointment of
Ajay K. Virmani, Rowland W. Fleming and Ian E. Bennett to the Board of Directors of
Export Development Corporation (EDC). </font></p>
<p><font face="Arial">Mr. Virmani is a leading figure in Canada's transportation industry. He began his career
in the field of transportation/logistics/distribution in 1975 with Cottrell Transportation in
Toronto, where he worked for 15 years. Mr. Virmani earned his MBA in International
Marketing and Trade from City University of New York in 1985.</font></p>
<p><font face="Arial">In 1990, Mr. Virmani established a joint venture with Commercial Transport
International. By 1999 he headed several companies in the transportation business,
which he later sold to Eagle Global Logistics. Mr. Virmani is now the President of Eagle
Global Logistics (Canada). He is actively involved in the community and is a member of
the Toronto 2008 Olympic Committee.</font></p>
<p><font face="Arial">Mr. Fleming has extensive experience in the financial sector. From 1995 to 1999, he
was President and CEO of the Toronto Stock Exchange. From 1991 to 1994, he was
the Deputy Chairman, President and CEO of the National Trust Company. In 1990, he
joined the Dominion of Canada General Insurance Company as the President and CEO.
Mr. Fleming also worked for several years as the Executive Vice President of the Bank
of Nova Scotia.</font></p>
<p><font face="Arial">As the Associate Deputy Minister of Finance, Mr. Bennett brings to EDC extensive
experience in economics. He has been responsible for many major domestic, economic,
tax and fiscal issues at the Department of Finance, and until recently was Canada's G-7
Deputy and Chair of the G-20 Deputies Committee. </font></p>
<p><font face="Arial">Prior to 1993, Mr. Bennett held a number of senior positions within the Department of
Finance. Between 1993 and 1996 he worked at the Privy Council Office, where he was
Deputy Secretary to the Cabinet (Operations); he also served as Associate Deputy
Minister at Revenue Canada.</font></p>
<p><font face="Arial">EDC is a Crown corporation that operates as a commercial financial institution and,
since 1944, has helped Canadian businesses grow and prosper through exports and
international investment. EDC's trade and finance solutions help Canadian firms
compete in more than 200 countries, including emerging and higher-risk markets. </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>
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