NEWS RELEASE

For immediate release

2004 YOUNG ENTREPRENEUR AWARDS
BDC Searching for Talented Business Entrepreneurs

(Montreal, Quebec, May 10, 2004) – The Business Development Bank of Canada (BDC) is looking for talented business entrepreneurs from across Canada for its 2004 Young Entrepreneur Awards (YEA), which will be presented on October 19th during Small Business Week® (SBW). A total of thirteen awards will be presented, one for each province and territory, to celebrate the accomplishments of young entrepreneurs and their contribution to the growth of the Canadian economy.

In addition to receiving nationwide recognition, the winners of the 2004 YEA will receive a trophy and a trip to the awards ceremony in London, Ontario. They will also be invited to attend the BDC Forum, a special day of training during which they will meet business leaders who have made their mark in a particular sector of the business world along with respected academics. BDC Consulting Group professionals will also put on sessions for the winners.

For a second year in a row, the SBW theme is "YOU'RE THE POWER behind the Canadian economy, let's share the energy!".

Selection Criteria
The winners are selected by a panel of business people, entrepreneurs, members of Chambers of Commerce and BDC representatives.

The following selection criteria apply to all nominees: the company’s success and growth potential, innovation, participation in new economy activities and community involvement.

To participate, Canadian entrepreneurs must be between the ages of 19 and 35 and must have been in business for at least two years.

The panel also considers the company’s export performance, the entrepreneur’s age when the business was started and any special challenges that had to be overcome.

Special Awards
This year's YEA winners will also be eligible for two other awards:
• The Laurentian Bank Export Achievement Award will be presented to the winner with the most outstanding export results;
• The Creative Mind Award will go to the winner who has shown ingenuity and creativity in developing, marketing or promoting its company's products and services.
These awards come with a $15,000 grant which is intended to help the company in its efforts to achieve growth objectives and therefore must be invested in the business.

BDC Ongoing Achievement Award
All former Young Entrepreneur Award winners are invited to apply for the BDC Ongoing Achievement Award. This award will be presented to an entrepreneur who won a YEA between 1988 and 2003, and whose company has shown sustained growth since that time. As in the case of the two previous awards, the grant is intended to help the company achieve its growth objectives, so it must be reinvested in the business. This award is presented by the BDC Consulting Group and comes with a $20,000 grant. The winner will also get a free Growth Potential Assessment from the BDC Consulting Group. This consulting service, valued at $5,000, includes a detailed profile of the company's strengths and the aspects it needs to improve, plus a written report on its ability to meet the challenges growth generates.

How To Apply
Young entrepreneurs can nominate themselves. Application forms can be picked up at any BDC branch, or obtained by calling, toll-free, 1 888 INFO-BDC (1 888 463-6232). Entrepreneurs may also apply by logging on to BDC's Web site at www.bdc.ca. The application deadline is May 28, 2004.

The Business Development Bank of Canada is a financial institution wholly owned by the Government of Canada. BDC plays a leadership role in delivering financial, investment and consulting services to Canadian small business, with a particular focus on the technology and export sectors of the economy.

BDC’s Web site: www. bdc.ca

® Small Business Week is a registered trademark of the Business Development Bank of Canada.

- 30 -

For more information:
Lise Beauchemin
Media relations
(514) 283-7929
lise.beauchemin@bdc.ca