Saskatchewan Wheat Pool Inc.
TSX : SWP

Saskatchewan Wheat Pool Inc.

December 13, 2006 15:57 ET

Pool Hosts Annual Meeting for Shareholders

REGINA, SASKATCHEWAN--(CCNMatthews - Dec. 13, 2006) - Saskatchewan Wheat Pool Inc. (TSX:SWP) held its annual meeting of common shareholders today in Regina, recognizing its first year since becoming a federal corporation governed by the Canada Business Corporations Act.

As part of the formal business of the meeting, Pool shareholders re-elected eleven directors of the Board and re-appointed Deloitte & Touche LLP, as the company's auditors. Approximately 44% of the Pool's total shares outstanding were represented at the meeting in person or by proxy.

Shareholders voted overwhelmingly in favour of the Board's re-election and for the re-appointment of the company's auditors.

The Pool's eleven-member Board consists of the following:

- Mr. Ryan Anderson, Pool director, is a graduate of the University of Saskatchewan's Agriculture program. He has served as a Pool Director since 1998 and sits on the company's Audit Committee. Mr. Anderson operates a grain, oilseed and pulse crop operation near Melfort, Saskatchewan.

- Mr. Terry Baker, Chairman of the Board, has served on the Pool's Board of Directors since 2001. He holds a civil engineering degree from the University of Saskatchewan. Currently, he is the Chairman of the Board and also a member of the Strategic and Business Planning Committee. Mr. Baker runs a mixed farming operation near Denzil, Saskatchewan.

- Mr. Vic Bruce has been a Pool Director since 2002. He has served on various Boards, including the Farm Land Security Board. Mr. Bruce holds a Bachelor of Education degree, majoring in economics at the University of Calgary. He specializes in pedigreed seed production through a family operation located near Tuxford, Saskatchewan.

- Mr. Thomas Birks was elected to the Board in March 2005. Mr. Birks is the President of Birinco Inc., a merchant bank headquartered in Quebec. He received a Bachelor of Arts degree from McGill University and an MBA from Harvard Business School. He serves on the Audit and Nominating/Corporate Governance Committees of the Board.

- Mr. Thomas Chambers joined the Board in June 2006, and serves on the Pool's Audit and Compensation committees. He is an experienced professional accountant, senior executive, corporate Director and business advisor, most notably having served for 26 years as a Partner in Senior management roles with PricewaterhouseCoopers LLP. Through Senior Partner Services Ltd., he acts as an advisor and Director to a number of companies.

- Mr. Dallas Howe joined the Pool's Board in March of 2005 and chairs the Compensation Committee. He is also the Chairman of the Potash Corporation's Board of Directors. Mr. Howe holds a Bachelor of Arts Degree and a Masters in Mathematics from the University of Saskatchewan.

- Mr. Rick Jensen has been a director since March 2004, and serves on the Pool's Compensation committee. He received a diploma in agriculture from the University of Saskatchewan. Mr. Jensen has served in numerous community leadership roles in support of agriculture issues and operates a mixed farm near Webb, Saskatchewan.

- Doug Kitchen, Vice-Chairman of the Board, joined the Pool's Board in July 2000. Mr. Kitchen is a graduate of Kansas State University with specialties in agriculture and business. He is currently Managing Director of Rosenthal Collins, a world leader in futures and foreign exchange execution. Mr. Kitchen is a member of the Pool's Nominating/Corporate Governance Committee of the Board.

- Harold Milavsky has been a Board director since 2003 and is Chairman and Director of Quantico Capital Corporation in Calgary. He holds a Bachelor of Commerce Degree from the University of Saskatchewan and is a member of the Institute of Chartered Accountants of Saskatchewan and Alberta. He has received honorary doctorates from the universities of Calgary and Saskatchewan, and has been recognized for excellence in corporate governance from the Institute of Corporate Directors. Mr. Milavsky chairs the Nominating/Corporate Governance Committee and the Audit Committee of the Board.

- Herb Pinder has been on the Board of Directors of Saskatchewan Wheat Pool since 2003, serving on the Nominating/Corporate Government Committee. He is the President of the Goal Group of Companies, based in Saskatoon, Saskatchewan. A non-practicing lawyer, Mr. Pinder holds an MBA from Harvard Business School. He lives in Saskatoon.

- Mayo Schmidt, the Pool's President and Chief Executive Officer, joined the Board in March 2005. He joined the Pool in 2000 after holding a number of senior executive positions with ConAgra and General Mills Inc. Mr. Schmidt is a member of the Canadian Council of Chief Executive Officers (open to the top 150 corporations), the C.D. Howe Institute, a Director on The Conference Board of Canada and a trustee for The Conference Board Inc. He serves on the Applied Portfolio Management Advisory Board for the Washburn University School of Business. Mr. Schmidt is also a Director of Prairie Malt Ltd. and the Saskatchewan Roughriders. Mr. Schmidt earned his Bachelor of Business Administration Degree from Washburn University, and is a Washburn Alumni Fellow. He resides in Regina.

The Pool also acknowledged the contributions of Leonard Haukeness, who this year completed his tenure as a director.

Saskatchewan Wheat Pool Inc. 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.

Contact Information