CORPORATE (Last updated March 2010)

" Since the inception of SGGFMC in 1989, the Fund Companies have raised over $275 million of immigrant investor capital.
" To the end of 2009, the Fund Companies invested approximately $273 million in 72 new or expanding businesses and financing for infrastructure projects in Saskatchewan.

FUND COMPANY (Last updated March 2010)

All Fund Companies are fully invested and are at various stages in the liquidation of investments to make payments to investors. The priority of each of the Fund Companies is the liquidation of their investment portfolios in order to provide funds for payments to investors. Payments to investors at maturity of the notes are established periodically based on forecasts of cash expected to be available from disposal of investments and scheduled maturities of notes. Any forecasts of when such investments will be liquidated and what amounts will be realized reflect a best judgment based on current information. These forecasts involve a number of risks and uncertainties and other factors that may cause actual results to differ materially from the forecasts. Cash flow forecasts are reviewed quarterly, and available cash is distributed to investors. For each Fund Company, set out below is the range of amounts currently expected to be available for distribution to investors, and the timing of such distributions, assuming that the assumptions underlying current forecasts prove to be correct. The Fund Companies continue to actively manage their remaining investments with a view to achieving for investors the best liquidation proceeds available in the prevailing circumstances.

SGGF I: All of the investors were redeemed in 1998, and the Fund was wound up in 2009.

SGGF II: During 2005, the Fund's remaining investments were liquidated. The proceeds of these disposals were used to pay the senior-ranking liabilities of the Fund and then to make a payment of $47,250 to the 31 investors who had not received a payment on their Bond. The accumulated deficit of the Fund at December 31, 2009 is $7.8 million. The Fund has no other sources of cash from which to make further payments to investors. It is not expected that any further cash distributions will be available to Bond holders.
The Fund is in the process of being wound up.

SGGF III: All notes issued by SGGF III have matured. All investors have received at least $165,000 since the maturity of their notes. As a result of investment losses, the remaining ivestments in SGGF III are not expected to generate sufficient cash to make any significant further payments to investors.

SGGF IV: All notes issued by SGGF IV have matured. All investors have received $242,000 since the maturity of their notes. As a result of investment losses, the Fund is unable to repay the full principal amount to investors. The Fund is in the process of being wound up.  Bearing in mind the costs of the liquidation and dissolution, it is anticipated that an additional payment of approximately $500 will be made to investors once the liquidation has been completed.

SGGF V: All notes issued by SGGF V have matured. All investors have received $235,000 since the maturity of their notes. As a result of investment losses, the Fund is unable to repay the full principal amount to investors. The Fund is in the process of being wound up.  Bearing in mind the costs of the liquidation and dissolution, it is anticipated that an additional payment of approximately $300 will be made to investors once the liquidation has been completed.

SGGF VI: All notes issued by SGGF VI have matured.  All investors have received $238,000 since the maturity of their notes. As a result of investment losses, the Fund is unable to repay the full principal amount to investors. If the assumptions underlying current forecasts of cash flows from investments prove to be correct, additional payments to investors may be possible in 2010. The current forecast projects that the total payment to investors could be in the range of $239,000 to $243,000.

SGGF VII: All notes issued by SGGF VII have matured.  All investors have received $226,500 since the maturity of their notes. As a result of investment losses, the Fund is unable to repay the full principal amount to investors. If the assumptions underlying current forecasts of cash flows from investments prove to be correct, additional payments to investors may be possible in 2010. The current forecast projects that the total payment to investors could be in the range of $233,500 to $235,500.

SGGF VIII: All notes issued by SGGF VIII have matured.  All investors have received $218,500 since the maturity of their notes. As a result of investment losses, the Fund is unable to repay the full principal amount to investors. If the assumptions underlying current forecasts of cash flows from investments prove to be correct, additional payments to investors may be possible in 2010. The current forecast projects that the total payment to investors could be in the range of $230,000 to $235,000.