TO THE HONOURABLE THE LEGISLATIVE ASSEMBLY OF MANITOBA: Your Standing Committee on ECONOMIC DEVELOPMENT presents the following as its First Report.

Your Committee met on Tuesday, February 23, 2000 at 1:30 p.m. in Room of the Legislative Building to consider the Annual Reports of the Manitoba Lotteries Corporation for the years ended March 31, 1996, March 31, 1997, March 31, 1998 and March 31, 1999; Annual Reports of the Communities Economic Development Fund for the years ended March 31, 1998 and March 31, 1999; Financial Statements of Venture Manitoba Tours Ltd. for March 31, 1997 and 1996, March 31, 1998 and and March 31, 1999; and the Annual Reports of the Manitoba Development Corporation for the years ended March 31, 1998 and March 31, 1999.

At that meeting, your Committee elected Mr. JENNISSEN as Chairperson and Mr. SMITH (Brandon West) as Vice-Chairperson. At the February 23, 2000 meeting, your Committee accepted the resignations of Hon. Ms. Friesen, Hon. Mr. Lemieux, Mrs. Dacquay and Mr. Derkach, and elected Hon. Ms. McGifford, Hon. Mr. Lathlin, Mrs. Mitchelson and Mr. Reimer to replace them. Mr. Bob Sparrow, Chief Executive Officer and Mr. Jim Baker, Director of Finance provided such information as was requested with respect to the Financial Statements and business of Venture Manitoba Tours Ltd. Mr.

Peter Hak, Senior Vice-President and Chief Executive Officer and Mr. Brian Stepnuk, Vice-President of Finance and Administration provided such information as was requested with respect to the Annual Reports and business of the Manitoba Lotteries Corporation. Mr. Harold Westdahl, Chairman of the Board and Mr. R. Gordon Wakeling, General Manager and Chief Executive Officer provided such information as was requested with respect to the Annual Reports and business of the Communities Economic Development Fund. Mr. Jim Kilgour, Secretary-Treasurer of Manitoba Development Corporation and Mr.

Hugh Eliasson, Deputy Minister of Industry, Trade and Mines provided such information as was requested with respect to the Annual Reports and business of the Manitoba Development Corporation.

Your Committee has considered the Annual Reports of the Manitoba Lotteries Corporation for the years ended March 31, 1996, March 31, 1997, March 31, 1998 and March 31, 1999; Annual Reports of the Communities Economic Development Fund for the years ended March 31, 1998 and March 31, 1999; Financial Statements of Venture Manitoba Tours Ltd. for March 31, 1997 and 1996, March 31, 1998 and and March 31, 1999; and the Annual Reports of the Manitoba Development Corporation for the years ended March 31, 1998 and March 31, 1999 and has adopted the same as presented.

All of which is respectfully submitted, _____________________________ Mr. Gerrard Jennissen, Chairperson Committee Rooms February 2000