Ian MacGregor Appointed to Seaway Board of Directors

December 13, 2006

Cornwall, Ontario, December 13, 2006 – The St. Lawrence Seaway Management Corporation (SLSMC) is pleased to announce the appointment of Mr. Ian MacGregor to its Board of Directors, representing “Domestic Carriers”.

The appointment of Mr. MacGregor adds a key facet to the expertise present within the SLSMC’s Board of Directors.  A lawyer with the firm of Fasken Martineau (and its predecessors) since 1964, Mr. MacGregor’s practice includes public financings, mergers and acquisitions, domestic and international joint ventures, and substantial work for various shipping companies.  Mr. MacGregor currently serves as a director of several public, private and not-for-profit corporations.

Richard Corfe, President and CEO of the SLSMC, noted that this is Mr. MacGregor’s second mandate as a Director of the Corporation – he previously represented the Province of Ontario from October 2001 to September 2004. “We are delighted to see Ian rejoin our board for a new three year term”, stated Mr. Corfe. “His depth of expertise in the fields of finance and shipping will complement our existing resources, as we seek to act as a catalyst to spur new investment in Seaway-fitted shipping fleets, shortsea cargo movements, and port infrastructure”.

Since its inception in 1959, more than 2.3 billion tonnes of cargo, valued at over $285 billion, have moved via the Seaway.  Today, marine transportation within the Seaway continues to support the well-being of millions of people on both sides of the Canada/US border and, through increased use, carries the promise to do even more.  The SLSMC remains dedicated to promoting the economic and environmental benefits of the marine mode, attracting new cargoes to the Seaway and leveraging technology to enhance the system’s performance.  For more information on the Hwy H20 initiative, please consult the www.hwyh2o.com Web site.