INVESTMENT SASKATCHEWAN TABLES RESULTS FOR 2005

Released on April 24, 2006

Investment Saskatchewan Inc. tabled its 2005 annual report before the Saskatchewan Legislature today.

Investment Saskatchewan's earnings (before provisions and writedowns) were $34.3 million, higher than the budgeted amount of $14.2 million. The Corporation also finished the year with a strong cash position of $177.2 million, up $6.9 million from 2004. These positive outcomes resulted from the strong performance of the majority of the investments in the Corporation's $412.7 million portfolio.

While Investment Saskatchewan had a very good year on most fronts, net earnings for the year were negatively impacted by the financial performance of one of its major investments, Meadow Lake Pulp Limited Partnership. The pulp mill fared poorly in 2005 due to a number of economic factors including a high Canadian dollar, low pulp prices, and increasing transportation and energy costs. To reflect the deteriorating financial position of the mill, a loan loss provision of $109.7 million was taken against this investment. This resulted in a net loss in 2005 of $87.7 million for Investment Saskatchewan as compared to net earnings in 2004 of $19.3 million.

"Investment Saskatchewan has made major strides in the two short years since it was created," Minister responsible for Investment Saskatchewan Eric Cline said. "During 2005 the Corporation provided sound management of the Province's investment assets and was actively involved with the companies that make up its investment portfolio – companies that generate significant economic activity in our province."

Investment Saskatchewan made significant new and follow-on investments in Saskatchewan-based companies, managed the sale of several investments, which were completed early in 2006, and increased its pipeline of potential deals by 124 per cent over the prior year.

The Investment Saskatchewan Inc. Annual Report can be accessed at www.investsask.com.

About Investment Saskatchewan:

Investment Saskatchewan is a designated subsidiary Crown corporation under The Crown Corporations Act, 1993 and an incorporated entity under the Saskatchewan Business Corporations Act. Formerly known as CIC Industrial Interests Inc., the Corporation presently holds an investment portfolio of $413 million in a variety of industries and can place up to $50 million in new investments annually. Its head office is located in Regina, Saskatchewan. A satellite office is located in Saskatoon.

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For More Information, Contact:

Leslie Anderson Investment Saskatchewan Regina Phone: (306) 787-7273 Email: landerson@investsask.com Cell: (306) 527-2623