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SASKATCHEWAN'S CREDIT RATING UPGRADED

Released on March 29, 1995

Finance Minister Janice MacKinnon today announced that effective
immediately the province's credit rating has been upgraded from BBB to
BBB (High) by the Dominion Bond Rating Service (DBRS), making
Saskatchewan the first province to receive a credit rating upgrade in
nearly five years.

"DBRS is impressed with the 1995-96 budget and how far we have come in
just three short years," MacKinnon said.

MacKinnon said that in addition to noting that "admirable strides" have
been made to restore the fiscal health of the province, DBRS cited the
long-term improvement in Saskatchewan's debt to GDP ratio, good
expenditure control and the commitment to maintain balanced budgets as
positive indicators.

"The upgrade by DBRS is external confirmation that we have turned
around the economy and financial fortunes of Saskatchewan and that we
are on the right track."

DBRS is a Canadian credit rating agency. As such, its evaluation of
the province's creditworthiness influences both Saskatchewan's cost and
access to borrowed funds.
"The improvement in creditworthiness, indicated by the DBRS upgrade, is
further confirmation of the view already held by investors that the
province's creditworthiness has improved. This view has resulted in a
reduced cost of borrowing to the province."

DBRS notes that this is an "isolated event" among Canadian provinces
and the agency continues to have fundamental concerns regarding the
finances of a number of other provinces, unlike Saskatchewan.

"The DBRS rating upgrade is a vote of confidence in Saskatchewan and
what we are doing. It also signals a new beginning and a brighter and
more secure future for all of us."

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For more information, contact:

Maureen MacCuish
Saskatchewan Finance
Regina
Phone: 787-6673

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