Thomas Spencer Appointed to the Board of Directors of the Business Development Bank of Canada

OTTAWA, January 29, 2008 — The Honourable Jim Prentice, Minister of Industry and Minister responsible for the Business Development Bank of Canada (BDC), today announced the appointment of Mr. Thomas Spencer to the Board of Directors of the BDC.

"I am pleased to welcome Mr. Spencer to the BDC," said Minister Prentice. "His extensive experience in, and knowledge of, business and finance will assist and support the Board as it continues to deliver on its commitment to strengthen entrepreneurship in Canada."

Mr. Spencer retired from the position of Vice Chair of Risk Management at TD Bank Financial Group in 2003. During his career with TD Bank Financial Group, he held various commercial lending and corporate finance positions before being named, successively, Vice President of Corporate and Investment Banking, Senior Vice President of Corporate and Investment Banking, Senior Vice President of Risk Management and Executive Vice President of Risk Management.

The Business Development Bank of Canada is a financial institution wholly owned by the Government of Canada that actively supports the development and growth of Canadian small and medium-sized businesses through its complementary financial, investment and consulting solutions.

For further information (media only), please contact:

Deirdra McCracken
Press Secretary
Office of the Honourable Jim Prentice
Minister of Industry
613-995-9001

Denise Arab
Director, Communications
Business Development Bank of Canada
514-283-3054