Winnipeg Commodity Exchange Board Of Directors For 2005

The Board of Directors of WCE Holdings Inc. for 2005 was elected at the annual shareholders meeting held on Tuesday, December 14, 2004. The Board of Directors of WCE Holdings Inc. also serve as the Board of Winnipeg Commodity Exchange Inc. (“WCE”).

The Board met immediately after the shareholders’ meeting and elected Lorne DeJaeger as Chairman and Jean-Pierre Gallardo as Vice-chairman. The Board of Directors consists of:

Lorne DeJaeger, Chairman (Outside Director)
Jean-Pierre Gallardo, Vice-Chairman (President, CEO and Administrator, Fimat Canada Inc.)
Bill Parrish, Jr., Immediate Past Chairman (President, Parrish & Heimbecker, Limited)
Mike Gagné (President and CEO, Winnipeg Commodity Exchange Inc.)
Pete Anderson (President and CEO, FCStone Group, Inc.)
Robert Chipman (Outside Director)
Rob Dzisiak, (President, Refco Futures (Canada) Ltd.)
Brian Hayward (CEO, Agricore United)
Bern Kotelko (Outside Director)
Sandi Mielitz
Brant Randles (President and CEO, Louis Dreyfus Canada Ltd.)
Curt Vossen (President, James Richardson International)
Ray Wyse (Manager of the Foreign Exchange, Archer Daniels Midland Company)

“We look forward to working with Pete Anderson, Bern Kotelko, Sandi Mielitz, and Ray Wyse who are serving on the Board for the first time. They bring a vast array of experience in the grain and derivatives industries from both Canadian and U.S. perspectives, “said Gagné.

Mr. Anderson is President and CEO of FCStone Group, Inc. located in Des Moines, Iowa. Mr. Wyse is Manager of the Foreign Exchange for ADM located in Decatur, Illinois. Mr. Kotelko is President of Highland Feeders, a feedlot with a standing capacity of 36,000 head, located in northeastern Alberta. Ms. Mielitz was an officer of CN Rail for 25 years before retiring in 2001.

They join the other members who were re-elected to the Board for 2005.

WCE is governed by a 13 person Board of Directors, including three Outside Directors who are neither participants or employees/affiliates of Participants, and the President and CEO.

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