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CIBC TELEPHONE BANKING CENTRE OFFICIALLY OPENS

Released on September 18, 1996

Premier Roy Romanow, Deputy Premier and Economic Development Minister
Dwain Lingenfelter, and Carol Teichrob, minister responsible for
SaskTel, today welcomed the Regina-based CIBC telephone banking centre
as a significant new player in Saskatchewan's economy.

"The CIBC telephone banking centre is a significant economic
opportunity for Saskatchewan, and Regina in particular," Romanow said.
"Not only does it mean well-paying jobs for our citizens, but it will
also result in numerous economic spin-offs and help us to attract
similar businesses to the province."

When fully operational, the telephone banking centre will provide the
equivalent of 500 full-time jobs, with about half of the positions
already filled.

"Saskatchewan is already home to 48 call centres, employing more than
1,000 people," Romanow said. "This builds on SaskTel's reputation for
providing innovative, flexible telecommunications solutions."

"This is exactly the kind of project and investment we have tried to
encourage through the province's economic strategy Partnership for
Growth," Lingenfelter said. "With telecommunications identified as one
of the six key areas of potential economic growth for Saskatchewan, the
CIBC centre is a welcome addition to our information technology
infrastructure."

The province is providing $6,800 in training money for each employee
hired by the CIBC centre, up to a maximum of $3.4 million. However,
with some of the workers being hired from within CIBC's existing
workforce, the province's final cost is expected to be lower.

In addition to the spin-off economic benefits resulting from the 500
new jobs, the CIBC telephone banking centre will provide an estimated
$4 million to $5 million in direct additional yearly revenue to
SaskTel.

One of only two CIBC national telephone banking centres in Canada, the
centre will provide round-the-clock telephone banking service to CIBC's
customers.

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For more information, contact:

Debbie Wilkie
Economic Development
Regina
Phone: (306) 787-7982

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