Saskatchewan Wheat Pool Inc.
TSX : SWP

Saskatchewan Wheat Pool Inc.

November 20, 2006 19:06 ET

Pool Seeks Resolution to Pension Issue

REGINA, SASKATCHEWAN--(CCNMatthews - Nov. 20, 2006) - Saskatchewan Wheat Pool Inc. (TSX:SWP) today confirmed the Company's position that it will seek clarification from the courts to resolve an issue concerning the Saskatchewan Wheat Pool/Grain Services Union (SWP/GSU) Pension Plan.

Earlier today the Office of the Superintendent of Financial Institutions of Canada ("OSFI") issued a directive to the Pool to make special and normal cost payments to the pension fund that would be in addition to its negotiated contribution rate. The SWP/GSU Plan is registered under the federal Pension Benefits Standards Act (PBSA) and is regulated by OSFI. The Pool will not make payments pending the outcome of the court process.

"To resolve this matter, the Pool needs a clear determination. While the Pool respects OSFI's view as the federal pension regulator, there exists a legitimate point of disagreement between OSFI and the Company about the correct interpretation of the PBSA in this particular fact situation," said Randy Bauslaugh, Partner of Blake, Cassels & Graydon LLP and external legal counsel to the Pool.

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 value-added businesses and strategic alliances, which allow the Pool to leverage its pivotal position between Prairie farmers and destination customers.

The Pool's common shares are listed on the Toronto Stock Exchange under the symbol SWP.


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