GROUPE LIMAGRAIN BOARD OF DIRECTORS MEETS IN SASKATOON

Released on June 3, 1996

Deputy Premier and Economic Development Minister Dwain Lingenfelter met
this weekend with the board of directors of one of the world's largest
seed companies.

Groupe Limagrain is headquartered in France with annual sales of $1.1
billion Canadian. The company located its world-wide canola breeding
centre, Limagrain Canada Seeds, at Innovation Place in Saskatoon in
1994.

Referring to the Saskatchewan Opportunities Corporation's (SOCO) $6
million equity investment in Limagrain Canada Seeds made in 1994,
Lingenfelter said: "This investment in the province's agbiotech sector
is the kind of activity that was envisaged by the province's economic
development strategy, Partnership for Growth. Investments like this
result in major companies locating a significant operation in
Saskatchewan." In addition, SOCO's syndication of the investment with
the Bank of Nova Scotia served the corporation's mandate to share its
risk with commercial investors.

SOCO's equity investment was instrumental in Groupe Limagrain's
decision to locate Limagrain Canada Seeds in Saskatoon. The company
was also attracted to the infrastructure at Innovation Place.

Limagrain Canada Seeds now employs 16 people in Saskatoon who carry out
research, production, sales, marketing and administration. In its
1994-95 annual report, the parent company reported that the Saskatoon
operation has almost doubled its canola sales and now has registered 12
new varieties of canola, including a fully registered Roundup Ready
canola that will provide better weed control, reduce herbicide use, and
lower production costs. The company markets its product through 200
dealers in North America.

"Limagrain Canada's accomplishments are excellent news for
Saskatchewan," said Lingenfelter. In the last four years canola
production has doubled in this province, with the 1995 crop accounting
for more than six million acres.

"It's important that we look for all opportunities to diversify and
enhance the research, development, production and merchandising of
canola. The province's investment in this company is an example of how
focusing on our areas of strength will reward economic development in
the future."

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For more information, contact:

Jan Carter
Director, Corporate Affairs
Saskatchewan Opportunities Corporation
Regina
Phone: (306) 787-8576