Saskatchewan Wheat Pool Inc.
TSX : SWP

Saskatchewan Wheat Pool Inc.

March 24, 2005 10:34 ET

Pool Becomes Canadian Business Corporation


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SASKATCHEWAN WHEAT POOL

TSX SYMBOL: SWP.NV.B

MARCH 24, 2005 - 10:34 ET

Pool Becomes Canadian Business Corporation

REGINA, SASKATCHEWAN--(CCNMatthews - March 24, 2005) - Saskatchewan
Wheat Pool (TSX:SWP.NV.B) today announced that the Certificate and
Articles of Continuance have been issued by the Director General of
Corporations Canada with an effective date of March 31, 2005. On March
31, the Pool will have completed its recapitalization and will become a
federal corporation governed by the Canada Business Corporations Act.

On March 28, 2005, the Pool's new common shares will commence trading on
the Toronto Stock Exchange on a "when issued" basis under the stock
symbol SWP. Regular trading will commence on March 31, 2005.

Upon the Certificate and Articles of Continuance becoming effective, the
certificates that had represented Class A shares and Class B shares
immediately prior to the effective date will become void and of no
value. In addition, on March 31, 2005, the issued and outstanding
convertible subordinated notes will be exchanged for common shares.
Shortly thereafter, the Pool will mail to all registered shareholders,
certificates representing the new common shares.

The new 12 member Board of Directors was approved and consists of:

- Mr. Ryan Anderson, a director on the Board since 1998 and a farmer
from Melfort, Saskatchewan

- Mr. Terry Baker, a director on the Board since 2001 and a farmer from
Denzil, Saskatchewan

- Mr. Thomas Birk, a newly appointed director and CEO of Brinko, a
merchant and investment bank headquartered in Quebec

- Mr. Vic Bruce, a director on the Board since 2002 and a farmer from
Tuxford, Saskatchewan

- Mr. Gary Colter, a director on the Board since 2003 and President &
CEO of CRS Inc. in Toronto Mr. Leonard Haukness, a director on the Board
since 2004 and a farmer from Estevan, Saskatchewan

- Mr. Dallas Howe, a newly appointed director who is also the Chairman
of the Board of the Potash Corporation of Saskatchewan

- Mr. Rick Jensen, a director on the Board since 2004 and a farmer from
Webb, Saskatchewan

- Mr. Douglas Kitchen, a director on the Board since 2003 and Managing
Director of Rosenthal Collins Group out of Nashville, Tennessee

- Mr. Harold Milavsky, a director on the Board since 2003 and Chairman
of Quantico Capital Corporation in Calgary

- Mr. Herb Pinder Jr., a director on the Board since 2003 and President
of Goal Group of Companies

- Mr. Mayo Schmidt, the Pool's Chief Executive Officer.

Saskatchewan Wheat Pool is a publicly traded agribusiness headquartered
in Regina, Saskatchewan. Anchored by a Prairie-wide grain handling and
agri-products marketing network, the Pool channels Prairie production to
end-use markets in North America and around the world. These operations
are complemented by agri-food processing and strategic alliances, which
allow the Pool to leverage its pivotal position between Prairie farmers
and destination customers.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Saskatchewan Wheat Pool
    Susan Cline
    Media Contact
    (306) 569-6948
    or
    Saskatchewan Wheat Pool
    Colleen Vancha
    Investor Contact
    (306) 569-4782
    Website: www.swp.com