(in thousands of dollars)

March 31, 2008, with comparative figures for 2007

	2008	2007
Assets:
Current Assets:
Cash	$21,804	$23,879
Accrued interest receivable	1,676	1,069
Due from the Province of Nova Scotia	11,100	7,766
Current portion of loans receivable (note 4)	5,607	6,129
Other receivables	688	633
	40,875	39,476
Nova Scotia Business Fund assets:
Loans receivable (note 4 and 8)	89,847	93,730
Equity investments (note 5 and 8)	16,206	13,219
Industrial parks and malls (note 6)	2,579	3,394
	108,632	110,343
	$149,507	$149,819
Liabilities and Shareholder's Equity
Current liabilities:
Accounts payable and accrued liabilities	$ 16,182	$ 13,733
Provision for payment of guarantees (note 8)	2,894	760
Divedend payable	1,190	-
Principal due within one year to the Province of Nova Scotia (note 9)	8,109	9,413
	28,375	23,906
Longterm debt:
Due to the Province of Nova Scotia (note 9)	93,530	99,513
Shareholder's equity:
Retained earnings	26,766	26,400
Accumulated other comprehensive income	836	-
	27,602	26,400
Commitments (note 10)
Contingencies (note 11)
	$ 149,507	$ 149,819

See accompanying notes to financial statements.

On Behalf of the Board
	Director	Director