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CALGARY COMPANY CREATES JOBS IN SASKATOON

Released on January 16, 2002

Centennial Foods of Calgary today opened its new food processing plant in

Saskatoon. The plant will employ up to 190 people to make frozen meat

products for markets in North America and southeast Asia.



"We are very pleased and proud to welcome Centennial Foods to

Saskatchewan," Premier Lorne Calvert said at the plant's grand opening.

"We congratulate the company on this major expansion of its business and we

look forward to a long and rewarding partnership."



The Centennial Foods plant is located at 820 - 60th Street East in

Saskatoon. Production will begin later this month with a start-up staff of

50. The number of employees will gradually increase to the full complement

of up to 190 by the time the plant is in full production over the next few

years.



"The jobs and spin off benefits created by this project are very important

to Saskatchewan's economy," Crown Investments Corporation Minister Maynard

Sonntag said. "This project will also contribute to the growth of our food

processing industry and help Saskatchewan become a leader in value-added

food processing. These areas have great potential because of our expertise

in primary food and agriculture production."



CIC announced in August, 2000 it was forming a partnership with Centennial

for a $35 million project that would include building and equipping a world

class facility in Saskatoon. CIC has invested $20 million in the company.



Centennial is a family-owned food service, distribution and value-added

manufacturing company that was established in 1967. The company has more

than 500 employees. In addition to the new Saskatoon facility, it has two

manufacturing plants in Calgary and eight food distribution facilities

throughout western Canada, including Saskatoon and Regina, and a sales

office in Toronto. The company's products are made under a variety of

brand names, including its own.



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For more information, contact:



Ted Boyle

Crown Investments Corporation

Regina

Phone: (306) 787-9039

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