Northern Development Announces Appointment of Board Members

May 28, 2008

PRINCE GEORGE, BRITISH COLUMBIA, CANADA — May 27, 2008 — Chair Bruce Sutherland announced today the appointment of two new members, and the re-appointment of two current members, to the Board of Directors of the Northern Development Initiative Trust.

Northern Development is managed by a board of thirteen directors of which eight are elected officials and five are business leaders appointed by the Government of British Columbia.  The new Provincial board member appointees include Michael John Tarr of Prince Rupert and Fred Punko of Prince George as well as re-appointed board members, Lita Powell of Fort St. John and Bruce Sutherland of Prince George.  The two new appointees will join the Board of Directors, which is comprised of:

“We welcome the experience and knowledge our new members bring to the direction of central and northern British Columbia’s key economic development organization,” stated Sutherland.  “The Northern Development Initiative Trust Board of Directors performs an essential role in supporting communities’ pursuit of economic development and diversification.  I am confident our new members will contribute greatly  in building upon the past successes of Northern Development and in facing new challenges and opportunities going forward.”

Fred Punko is the owner of a public accounting practice. Prior to this, he was a general accountant for Netherlands Overseas Sawmills and Prince George Pulp and Paper. Mr. Punko is a Former President of the Certified General Accountants of BC and a past member of the Certified General Accountants of Canada Board of Governors. Mr. Punko is the current President of Prince George Toastmasters.

Michael Tarr is the President and Chief Executive Officer of the Northern Savings Credit Union. Previously, he was a School Principal in School District 52. Mr. Tarr is a Director and former Vice Chairman and Chairman of the Canadian Cooperative Agricultural Finance Co. Ltd., former Chairman and Chief Executive Officer of Ridley Terminals Incorporated, and former Director and Vice Chairman of the Prince Rupert Port Corporation. In the community, he has served as a Director of the Prince Rupert Airport Society, Prince Rupert Economic Commission, and the Prince Rupert Library Board. Mr. Tarr holds his Bachelor of Education (Secondary) from the University of British Columbia and his Master of Education (Administration) from the University of Victoria.

Northern Development provides the funding and framework for a board of thirteen directors to work with community and business leaders to identify and pursue new opportunities for stimulating economic growth and job creation in their regions. Northern Development has four regional advisory committees that each nominates two of their local government members to the Board. The four regional advisory committees consist of elected officials of municipalities, regional districts and local members of the legislative assembly. The British Columbia Government appoints five other non-elected directors to the Board, generally from the business community.