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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">August 6, 2004 <i>(4:00 p.m. EDT)</i> No. 89</span></span></span></p>
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<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">CANADA ACCOUNT TRANSACTION FOR AEROSPACE INDUSTRY</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">International Trade Minister Jim Peterson today announced the first transaction under
the $1.2-billion Canada Account facility established in July 2003 to support export sales
of regional aircraft to various buyers.</span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">Export Development Canada (EDC), which manages and administers the Canada
Account program, has negotiated a loan to Comair, a subsidiary of Delta Air Lines, for
the acquisition of Bombardier jet aircraft to add to the airline’s existing fleet of Canadian
regional jets. The financing of this transaction has been structured in accordance with
commercial principles and is in full conformity with Canada’s international trade
obligations. Details on this transaction are available on EDC’s Web site at
</span></span><a href="https://bac-lac.wayback.archive-it.org/web/20071207023159/http://www.edc.ca./"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.edc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">.</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">“Bombardier and the aerospace industry are important to our economy, our regions and
our communities,” said Minister Peterson. “Canadians should be proud. Canada’s
aerospace industry is one of the largest in the world.”</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><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></span></span></p>
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<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">- 30 -</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">A backgrounder is attached. </span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">For further information, media representatives may contact:</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Jacqueline LaRocque<br>
Director of Communications<br>
Office of the Minister of International Trade<br>
(613) 992-7332</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Media Relations Office<br>
Foreign Affairs Canada and
International Trade Canada<br>
(613) 995-1874<br>
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20071207023159/http://www.international.gc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.international.gc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
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<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">Backgrounder</span></span></span></span></p>
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<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="color: #000000"><span style="font-weight: bold"><span style="font-size: 14pt">CANADA ACCOUNT</span></span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><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. Founded in 1944, EDC is a Crown
corporation that operates on commercial principles. It is financially self-sustaining, and
is accountable to Parliament through the Minister of International Trade.</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><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, for transactions that fall outside
the scope or risk tolerance of the Corporate Account, transactions can be considered
under EDC’s Canada Account.</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><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></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><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></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000">Canada Account information can be found in EDC’s annual report, on its Web site at
</span></span></span><a href="https://bac-lac.wayback.archive-it.org/web/20071207023159/http://www.edc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.edc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"> and in the Public Accounts published by the Government of Canada.</span></span></span></p>
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