December 11, 2007 13:01 ET

Cameco Approves Dividend Increase for 2008

SASKATOON, SASKATCHEWAN--(Marketwire - Dec. 11, 2007) -

Cameco Corporation (TSX:CCO) (NYSE:CCJ) announced today that its board of directors has approved an increase in the annual cash dividend to $0.24 from $0.20 per share beginning in 2008. This represents a 20% increase in Cameco's cash dividend and will be the fifth increase in six years. Cameco has consistently paid dividends since its shares began trading in 1991.

The company's board of directors also declared a quarterly cash dividend of $0.05 per common share, payable on January 15, 2008 to shareholders of record on December 31, 2007.

Cameco, with its head office in Saskatoon, Saskatchewan, is the world's largest uranium producer. The company's uranium products are used to generate electricity in nuclear energy plants around the world, providing one of the cleanest sources of energy available today. Cameco's shares trade on the Toronto and New York stock exchanges.

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