FOR IMMEDIATE RELEASE

February 11, 2002

SASKATCHEWAN WHEAT POOL ENTERS AGREEMENT TO
SELL CSP FOODS TO DAWN FOOD PRODUCTS

Saskatchewan Wheat Pool has entered into an agreement to sell substantially all of the assets of CSP Foods to Dawn Food Products (Canada), Ltd., a subsidiary of Dawn Food Products, Inc. Dawn Food Products, Inc. is a full service bakery supplier and distribution company headquartered in Jackson, Michigan.

"The Pool has in place a comprehensive program designed to strengthen its balance sheet and deleverage the company," says Pool Chief Executive Officer Mayo Schmidt. "We are reducing costs, improving working capital, and refocusing resources on our core operations. Our divestiture initiative is a key component of that plan and the Pool expects to receive net cash proceeds, subject to adjustments and holdbacks of approximately $35 million from this sale. For CSP Foods, the transaction is a natural fit since we currently sell Dawn Foods' products into Canada under a licensing agreement."

Dawn Food Products Chief Executive Officer, Ron Jones, says, "We are extremely pleased to welcome CSP into our family-owned business. The acquisition allows Dawn to continue with our mission of being the leading bakery supplier to retail, in-store, wholesale and foodservice customers."

The agreement is subject to regulatory approvals and usual closing conditions. The sale is expected to close on February 25, 2002. The Pool expects to record an after tax loss of approximately $14 million or $0.37 per share in its third quarter of fiscal 2002.

CSP Foods is a wholly owned division of the Pool. An integrated manufacturer and distributor of food ingredients to the bakery, food services and retail grocery sectors, CSP Foods has production operations in Saskatoon, Saskatchewan and Etobicoke, Ontario.

Dawn Food Products, Inc. is one of the world's largest bakery manufacturers and distributors as well as one of the nation's oldest manufacturers of bakery mixes and bases. Since 1920, Dawn's dedicated employees, outstanding products and valued customers have made the Dawn name synonymous with excellence. American-owned and operated, Dawn currently supplies a complete line of quality, consistent mixes, bases, icings, glazes, fillings, frozen dough, par-baked and fully baked products and equipment to the food industry worldwide.

Saskatchewan Wheat Pool is a publicly traded agri-business co-operative 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 Class B shares are listed on the Toronto Stock Exchange under the symbol SWP.B.

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