SWP Sells Some Assets To Cargill

REGINA - Jun 30/07 - SNS -- The Saskatchewan Wheat Pool Inc. (SWP) finalized the sale of certain assets to Cargill Limited to satisfy obligations under the Pool's consent agreement with Canada's Competition Bureau.

As of today, Cargill takes ownership of nine country grain handling and marketing facilities that were formerly owned by Agricore United and acquires 100% ownership of the Pool's Vancouver Port terminal. In turn, the Pool takes full ownership of Vancouver's Cascadia terminal, previously owned by Cargill and Agricore. Cargill will make an equalization payment to the Pool of $70 million, plus amounts related to inventory held in the country grain handling facilities and other closing adjustments.

Additionally, operational transfers will be implemented today at certain Agricore United grain facilities and agri-products retail operations located in Manitoba, Alberta, and Saskatchewan to James Richardson International Ltd. (JRI). JRI will operate these facilities, in keeping with the asset purchase agreement made between the Pool and JRI on May 9, 2007. The close of this transaction is expected shortly.

JRI will pay the Pool $255 million in cash, plus amounts related to inventory and other closing adjustments.