Churchill Gateway Development Corporation Work Continues to Diversify Business at the Port of Churchill.

Business Editors

WINNIPEG, Manitoba--(BUSINESS WIRE)--Dec. 8, 2003

Honourable Lloyd Axworthy is Appointed as

Chairman of the Board of Directors

The Churchill Gateway Development Corporation (CGDC), a corporation formed by the Province of Manitoba, Western Economic Diversification Canada, and the OmniTRAX Canada Companies, is working as a public-private partnership to expand the product base that flows in and out of the Port of Churchill.

Newly elected chairman, the Honourable Lloyd Axworthy, has called his first meeting of the newly elected Board of Directors of the CGDC on December 8 in Winnipeg. Other members of the Board of Directors include: Mike Ogborn, Managing Director of OmniTRAX; Bernie Boucher, Executive Vice President of OmniTRAX and President of the CGDC; Brant Randles, President of Louis Dreyfus Canada; Iris Thornton, Vice President of OmniTRAX; and John Spacek, Director, Policy and Service Development for Manitoba Transportation and Government Services. The Corporation's mandate is to invigorate the marketing of the Churchill gateway, diversify the traffic base, and build two-way traffic.

The CGDC is working to develop new markets coming in and out of the Port for traffic such as fertilizer, containerized goods and concentrate, increasing the Gateway's market share of Nunavut resupply traffic, and by marketing the economic advantages of the Port to its customers.

"These efforts are designed to ensure the long-term viability of the Port and make it sustainable while reducing its dependency on its traditional product line -- the exporting of Western Canadian grain," said Lloyd Axworthy, Chairman of CGDC. "Our goal is to provide a sustainable trade and tourism route and allow all business in the region to benefit from the Churchill advantage."

"Our public-private partnership approach to our northern gateway investment this year paid off with a 120 percent increase in shipments through the Port of Churchill," said Manitoba Transportation and Government Services Minister Ron Lemieux. "We look forward to continuing to support our partners in their effort to diversify exports and expand gateway traffic."

"Churchill has the ability to reach many areas of the globe for a lesser cost, which makes it a very competitive port," said Bernie Boucher, President of the Churchill Gateway Development Corporation. "By expanding the reach and product flow through the Port, we anticipate economic and employment growth to follow in northern Manitoba."

"Our northern communities have reaped the benefits of our investments in the port and its transportation links," said Rupertsland MLA Eric Robinson. "Through continued cooperation to provide affordable supply routes for isolated communities, northern residents will continue to see economic opportunities."

"Western Economic Diversification Canada has continuously worked to ensure the competitiveness and viability of the Port of Churchill, through funding of various projects including marketing initiatives by the Churchill Gateway Development Corporation," said Stephen Owen, Secretary of State (Western Economic Diversification) (Indian Affairs and Northern Development). "I am very pleased that positive steps continue to be made towards the long-term sustainability of the Port."

"The Port of Churchill plays a significant role in the economic development of Churchill and the Province of Manitoba," said Dr. Rey Pagtakhan, Senior Federal Minister for Manitoba. "The Government of Canada is committed to working with other levels of government, the private sector and industry stakeholders to create economic growth and opportunities for the entire region."

The CGDC's overall goal is to achieve 1 million tonnes of grain, in addition to other commodities, flowing in and out of the Port.

About OmniTRAX

An affiliate of The Broe Companies, OmniTRAX, Inc. is one of North America's leading transportation companies. With expertise in the regional-rail industry and associated transportation businesses, OmniTRAX aggressively seeks business opportunities that maximize the company's core strengths. Aggressive marketing and innovative service offerings ensure that shippers receive exceptional and flexible service arrangements. Based in Denver, Colorado, OmniTRAX owns and operates railroads in six states and three Canadian provinces, plus related businesses. The related businesses include: real estate, intraplant switching, intermodal operations, and the Port of Churchill. For more information, please visit us at: www.omnitrax.com.