INNOVATION PLACE CONSOLIDATES ASSETS WITH SOCO

Released on August 10, 1995

Dwain Lingenfelter, minister responsible for the Saskatchewan
Opportunities Corporation, today announced that the assets of
Innovation Place in Saskatoon have been consolidated with those of
Saskatchewan Opportunities Corporation (SOCO), the province's new
economic development financing agency.

"Innovation Place and Saskatchewan Opportunities Corporation share the
goals of building the province's advanced technology sector," said
Lingenfelter. "Combining the energies of these two organizations will
enable them to work together more closely in order to attract private
sector investment to the province and to help further diversify the
economic base of the province."

Innovation Place, a provincial research and development park, was
created in 1977 in Saskatoon. It has grown to become one of North
America's largest and most successful research parks, recognized
internationally as one of the world centres for agricultural
biotechnology. Innovation Place presently consists of 14 buildings,
and is home to more than 80 organizations employing over 1,250 people.
The economic development mandate of Innovation Place will remain the
same -- to support growth within the advanced technology sector and
assist in the creation of new companies and in attracting companies to
the province.

Saskatchewan Opportunities Corporation was established in 1994 as a
direct result of the Partnership for Renewal economic strategy. With a
mandate to foster and facilitate economic development in the province,
SOCO targets investment in six strategic sectors, including agriculture
value-added and advanced technology. A key objective of the
Saskatchewan Opportunities Corporation is to take an active role in
seeking out suitable candidates interested in locating or expanding all
or some portion of their operations in Saskatchewan.

"Having Innovation Place managed within SOCO will create a synergistic
operating environment. Consolidation will ensure shared vision and
goals with a consistent strategic direction and approach to investment
attraction," Lingenfelter said. "We are positioning Innovation Place
for further success by integrating it with the province's economic
development financing agency. Consolidating these efforts will provide
increased focus and maximize opportunity for success."

SOCO's board of directors will be expanded to include representation
from the Saskatoon business and financial community. Saskatoon-based
business people will have the opportunity to play an active role in
setting strategic direction for one of the province's most valuable
assets.

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For more information, contact:

Zach Douglas
President
Saskatchewan Opportunities Corporation
Regina
Phone: (306) 787-8575