WCE Holdings Inc. Shareholders Approve Transition To Electronic Trading

The shareholders of WCE Holdings Inc., the parent corporation of Winnipeg Commodity Exchange Inc. (“WCE”), today approved the resolution necessary to transform WCE’s trading platform from the traditional open outcry method to an electronic system. The resolution was approved by 81% of the ballots cast.

Regulatory approval by The Manitoba Securities Commission is pending.

The vote of the shareholders paves the way for finalization of the agreements that will enable WCE contracts to be listed for trade on the e cbot™ trading platform powered by LIFFE CONNECT^™.

“This highly sophisticated electronic trading platform will provide the functionality necessary for WCE to remain competitive in this rapidly changing industry”, said Mike Gagné President & CEO. “The Exchange’s primary goal, which is to facilitate price discovery and provide risk management tools, will be enhanced by this transition. The electronic trading platform will give exposure to WCE’s contracts which will attract new players to our marketplace and increase liquidity”, added Gagné.

WCE will be the first open outcry commodity futures exchange in North America to become fully electronic. It will be converting to electronic trading in the last quarter of 2004 and will provide at least three months notice to all market participants prior to the actual conversion date.

Winnipeg Commodity Exchange Inc., established in 1887, has been facilitating futures contract trading since 1904. WCE is Canada’s only agricultural futures and options exchange and offers futures and options contracts on canola, flaxseed, domestic feed wheat, and western barley. For more information on the Exchange, visit www.wce.ca