Lukas Lundin, Chairman of The Lundin Group of Companies, Named Ernst & Young Entrepreneur Of The Year(R) 2007 for the Pacific Region

    Mining Company Principal Takes Home Prestigious Business Award

    VANCOUVER, Oct. 9 /CNW/ - At a gala awards presentation this evening,
Lukas Lundin of the Lundin Group of Companies was the recipient of the Pacific
Ernst & Young Entrepreneur Of The Year 2007 Award. Mr. Lundin also received
one of eight category awards, for Mining and Metals, at the banquet and
ceremony in Vancouver, attended by over 1,100 people.
    "Lukas Lundin is a remarkable individual, with great tenacity and
entrepreneurial vision," said Fred Withers, director of the Ernst & Young
Entrepreneur Of The Year Awards Program for the Pacific region. "His courage
and ability to take big risks time and time again truly reflect the mark of a
successful entrepreneur."
    Mr. Lundin began his career by heading International Petroleum
Corporation's extensive and rapidly growing international operations based in
Dubai, where he stayed for 12 years. In 1990, he became president of
International Musto Exploration Limited and was responsible for Musto's
acquisition of the Bajo de la Alumbrera deposit, which was the subject of a
$500-million takeover by Rio Algom and North Limited and is now one of the
largest gold/copper producers in the world. Mr. Lundin was also responsible
for the discovery of the multi-million ounce Veladero gold deposit for
Argentina Gold. Veladero was the subject of a $300-million takeover by
Homestake in 1999. Later, he was a senior director of Lundin Oil AB and was
instrumental in the $480-million takeover of Lundin Oil by Talisman Energy in
    A leader in identifying global investment opportunities in the natural
resource sector, Mr. Lundin is willing to invest in countries and regions that
have been neglected by international investors, including Argentina, Russia
and the Democratic Republic of Congo. With operations in over 20 countries,
the Lundin Group of Companies has been highly commended by local communities
and governments for its efforts in developing a set of protocols that ensures
issues of environmental and cultural concern are addressed-as are economic
benefits and employment opportunities.
    Mr. Lundin is also on the board of directors of the Lundin for Africa
Foundation, which works to improve the lives of those most impoverished in
Africa. The Foundation supports grassroots initiatives that bring hope for the
future and encourage long-term sustainability. Examples of these projects
include community water wells, learning centres for homeless children and
health centres for women. In July 2007, Lundin for Africa pledged $100 million
to the Clinton Giustra Sustainable Growth Initiative, which works to alleviate
poverty and build sustainable local economies in developing countries: namely,
    As the Pacific region award recipient, Mr. Lundin will compete with top
entrepreneurs from the Prairies, Ontario, Quebec and Atlantic regions for the
national honour of Entrepreneur Of The Year, to be announced November 1, 2007,
in Toronto. In June 2008, Canada's Entrepreneur Of The Year moves to the world
stage, joining more than 40 country recipients participating in the
international competition for the title of Ernst & Young World Entrepreneur Of
The Year(R).

    The following are business category recipients for the Ernst & Young
Entrepreneur Of The Year 2007 Pacific region awards are:

    Business-to-Business Products and Services

    Dr. Arjang Nowtash
    Sinclair Dental Company Ltd. (Distributor of dental products)
    North Vancouver

    Business-to-Consumer Products and Services

    Abdul Jamal, Azim Jamal, Zahra Mamdani, Joe Moosa
    Retirement Concepts Seniors Services Ltd. (Seniors' housing developer and

    Emerging Entrepreneur

    Ken Friesen, Larry Koop
    Alliance Concrete Pumps Inc. (Truck-mounted concrete boom bump

    Health Sciences

    Bob Rieder
    Cardiome Pharma Corp. (Biotechnology company)

    Hospitality, Tourism & Entertainment

    Ross McLeod
    Great Canadian Gaming Corporation (Gaming and entertainment operator)


    Rick McClymont, David Taft
    Britco Group of Companies (Designer and manufacturer of modular

    Mining and Metals

    Lukas Lundin
    The Lundin Group of Companies (Group of publicly traded, natural resource

    Technology & Media

    Jack Gin
    Extreme CCTV Inc.(Security and night vision product supplier)

    The Entrepreneur Of The Year Awards honour entrepreneurs who have
demonstrated excellence and extraordinary success in areas such as risk
taking, company development, innovation and personal commitment to their
businesses and communities. Submissions are reviewed by an independent judging
panel, which is composed of several notable Canadian business leaders and past
award recipients. The judges on the Pacific region panel for 2007 were Art
Aylesworth, CEO, Carmanah Technologies Corp.; Donna Bridgeman, Vice President,
Growthworks Capital Ltd.; Bob Gayton, Director, Western Copper Corporation;
Tracey McVicar, Managing Director, CAI Capital Management Co.; Jim Moore,
President and CEO, Stork Craft Manufacturing Inc.; Dr. Daniel Muzyka, Dean,
Sauder School of Business, University of British Columbia; and Sue Paish, CEO,
Pharmasave Drugs (National) Ltd.

    The Entrepreneur Of The Year Program was founded by Ernst & Young to
celebrate great entrepreneurs who have demonstrated excellence and
extraordinary success in areas such as company development, financial
performance and risk taking. Canada's own Guy Laliberté from Cirque du Soleil
was the recipient of this year's World Entrepreneur Of The Year Award. The
program is nationally sponsored by Global Television Network, National Post,
La Presse, RDI, Roynat Capital and SAP. As well, Pacific region sponsors are
BC Business magazine and The Vancouver Sun.
    To learn more about the Ernst & Young Entrepreneur Of The Year 2007
Awards, visit

    About Ernst & Young

    Ernst & Young, a global leader in professional services, is committed to
restoring the public's trust in professional services firms and in the quality
of financial reporting. Its 114,000 people in 140 countries pursue the highest
levels of integrity, quality and professionalism in providing a range of
sophisticated services centred on our core competencies of auditing,
accounting, tax and transactions. Further information about Ernst & Young and
its approach to a variety of business issues can be found at Ernst & Young refers to the global organization of member
firms of Ernst & Young Global Limited, each of which is a separate legal
entity. Ernst & Young Global Limited does not provide services to clients.

For further information:

For further information: Nichola Petts, Media Relations, (416) 941-1813,

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