GOVERNMENT SELLS ADDITIONAL CAMECO SHARES

Released on April 24, 1996

Berny Wiens, minister responsible for Crown Investments Corporation
(CIC), today announced that CIC has sold a further 620,500 of its
Cameco shares from the one million shares available to the underwriters
under an over-allotment option. The shares were sold at the price of
$75.50 per share payable in two instalments of $37.75 each.

The total amount of shares of Cameco sold by CIC this year is now
10,120,500. The Crown holding company retains 5,423,123 shares in the
uranium-producing and refining corporation, headquartered in Saskatoon.
This represents 10.3 per cent of outstanding shares in Cameco.

"As with the funds received from the original sale, the money from the
sale of optioned shares will be applied directly to debt repayment,"
Wiens said. "As the Cameco investments represents a significant
portion of CIC's total assets, this sale is subject to the provisions
of The Balanced Budget Act passed last year, and this government is
committed to living within both the letter and the spirit of that Act."

The sale of these options will result in gross proceeds of $46.85
million to CIC. The total gross proceeds from the sale of Cameco
shares is now placed at $764.1 million, and estimated total net
proceeds, after costs, is $730 million. After deducting the carrying
costs of the shares sold, carried on CIC's books, the gain on the sale
is estimated at $540 million.

"As with the original sale, the payment to the government will come in
the form of two equal instalments, one due immediately, and the second
due in March of 1997," Wiens said. "And, as with the original sale
proceeds, half of the proceeds will be retained by CIC to pay down its
debt, and half will be paid to the General Revenue Fund in the form of
a special dividend to pay down debt.

"I am pleased that CIC's prudent management of the public's investment
in Cameco has resulted in such a significant return on that
investment."

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For more information, contact:

John Millar
Crown Investments Corporation
Regina
Phone: (306) 787-9039



(This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction in
which such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction. A prospectus relating to the offering of these
securities may be obtained in Canada from Nesbitt Burns Inc., 1 First
Canadian Place, Toronto, Ont., or RBC Dominion Securities Inc.,
Commerce Court South, Toronto, Ont., and in the United States from
Nesbitt Burns Securities Inc., 430 Park Ave., Seventh Floor, New York,
New York 10022; Goldman, Sachs & Co., Registration Department, 85 Broad
Street, New York, New York 10004; or RBC Dominion Securities
Corporation, Financial Square, 24th floor, New York, New York 10005, or
in either jurisdiction from any dealer which may lawfully distribute
the prospectus.)