SWP Makes Common Share Offerings

REGINA - Mar 21/06 - SNS -- The Saskatchewan Wheat Pool Inc. (SWP) entered a binding commitment to sell common shares to a syndicate of underwriters led by TD Securities Inc for CDN $7.50 per share

The underwriters have committed to affect the offering on a 'bought deal' basis, with anticipated gross proceeds of approximately $50 million.

SWP has also granted an option to the underwriters to purchase up to an additional 670,000 common shares at the issue price at any time up to 30 days after closing.

SWP has filed a preliminary short form prospectus dated March 15, 2006 and an amended and restated preliminary short form prospectus dated March 20, 2006 in connection with a $150 million offering of senior unsecured notes. Given the announced equity offering, the company intends to file a further amendment to the prospectus to reduce the note offering to $100 million.

Both the note offering and the common share offering are subject to customary securities regulatory approvals and closing conditions. SWP intends to use the net proceeds from the common share offering, together with the net proceeds from the $100 million note offering and working capital, to redeem the $150 million of outstanding senior subordinated notes due November 29, 2008.

SWP expects to file a preliminary short form prospectus in all of the provinces of Canada in connection with the common share offering. The common share offering is scheduled to close on or about April 5, 2006.

Neither the Notes nor the Common Shares have been or will be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States to any person absent registration or an applicable exemption from registration requirements.