Saskatchewan Wheat Pool Inc. (“Pool”) today announced that it has commenced the mailing of its formal offers to acquire Agricore United’s (“Agricore”) outstanding Limited Voting Common Shares, Series A Convertible Preferred Shares, and its Unsecured Subordinated Convertible Debentures.

Under the offers, the Pool would acquire Agricore’s outstanding securities on the basis of each outstanding Limited Voting Common Share of Agricore being exchanged for 1.35 common shares of Saskatchewan Wheat Pool, each outstanding Cdn $1,000 principal of Convertible Unsecured Subordinated Debentures of Agricore being exchanged for 180 common shares of Saskatchewan Wheat Pool (plus accrued and unpaid interest in the form of Saskatchewan Wheat Pool shares) and each outstanding Series A Convertible Preferred Share being acquired for Cdn $24.00 in cash (plus accrued and unpaid dividends).

The offers, takeover bid circular and related documents have also been filed in Canada on SEDAR at www.sedar.com.

The exchange offers are being made for securities of United Grain Growers (also known as Agricore United), a Canadian company, that are listed on The Toronto Stock Exchange. The exchange offers will be subject to disclosure requirements of Canada, which requirements are different from those of the United States. It may be difficult for U.S. shareholders to enforce their rights and any claim they may have arising under the federal securities laws, since Saskatchewan Wheat Pool and some of its officers and directors are located in a foreign country. U.S. shareholders may not be able to sue a foreign company or its officers or directors in a foreign court for violations of the U.S. securities laws.

It may be difficult to compel a foreign company and its affiliates to subject themselves to a U.S. court's judgment. U.S. shareholders should be aware that, to the extent permissible, the Pool may purchase Agricore United shares otherwise than under the exchange offers, such as in open market or privately negotiated purchases.

Saskatchewan Wheat Pool Inc. is a publicly traded agribusiness headquartered in Regina, Saskatchewan. Anchored by a Prairie-wide grain handling and agri-products marketing network, the Pool channels Prairie production to end-use markets in North America and around the world. These operations are complemented by value-added businesses and strategic alliances, which allow the Pool to leverage its pivotal position between Prairie farmers and destination customers.

The Pool’s common shares are listed on the Toronto Stock Exchange under the symbol SWP.