2009 Distribution Payments

IRC Provides Distribution Payments to Beneficiaries

INUVIK, NT (April 24, 2009) – The Board of Directors of Inuvialuit Regional Corporation (IRC) reports a consolidated profit of $3.8 million in 2008 and is pleased to announce that, in accordance with the IRC Distribution Policy, each enrolled Inuvialuit beneficiary over the age of 18 will receive a distribution payment of $400.

In 2008 the downturn in the global economy significantly affected the Inuvialuit Corporate Group. As a result, each beneficiary will receive the minimum available under the IRC Distribution Policy. A total of $1,560,000 will be paid to 3,900 beneficiaries. Payments can be expected on May 7.

The IRC Distribution Policy states that 15% of the lesser of the consolidated net after tax income for the year or the 5-year average of the consolidated net after tax income is distributed to beneficiaries each year. Without the Minimum Distribution Amount clause, each beneficiary would have received only $147.08.

IRC subsidiaries – Inuvialuit Development Corporation, Inuvialuit Investment Corporation, Inuvialuit Land Corporation and Inuvialuit Petroleum Corporation – will contribute to the distribution.

The IRC Distribution Policy ensures that there is sufficient reinvestment of profits to guarantee the preservation and growth of the land claim capital for future generations of Inuvialuit. The establishment of the Elders Assistance Program and Inuvialuit Harvesters Assistance Program, the core funding of the Inuvialuit Education Foundation, Inuvialuit Charitable Foundation and community corporations have all been made possible through such reinvestments.