(in thousands of dollars)

March 31, 2007, with comparative figures for 2006

	2007	2006
Assets:
Current Assets:
Cash	$23,879	$32,949
Accrued interest receivable	1,069	830
Due from the Province of Nova Scotia	7,766	8,356
Current portion of loans receivable (note 3)	6,129	6,833
Other receivables	633	446
	39,476	49,464
Nova Scotia Business Fund assets:
Loans receivable (note 3 and 7)	93,730	93,987
Equity investments (note 4 and 7)	13,219	12,233
Industrial parks and malls (note 5)	3,394	3,871
Other assets (note 6 and 7)	-	100
	110,343	110,191
	$149,819	$159,655
Liabilities and Shareholder’s Equity
Current liabilities:
Accounts payable and accrued liabilities	$ 13,733	$ 14,681
Provision for payment of guarantees (note 7)	760	650
Principal due within one year to the Province of Nova Scotia (note 8)	9,413	16,203
	23,906	31,534
Longterm debt:
Due to the Province of Nova Scotia (note 8)	99,513	103,366
Shareholder’s equity:
Share capital and retained earnings (note 9)	26,400	24,755
Commitments (note 10)
Contingencies (note 11)
	$ 149,819	$ 159,655

See accompanying notes to financial statements.

On Behalf of the Board
	Director	Director