2008 Distribution Payments

IRC Provides Distribution Payments to Beneficiaries

INUVIK, NT (April 22, 2008) – The Board of Directors of Inuvialuit Regional Corporation (IRC) reports a net income of $35.2 million by the Inuvialuit Corporate Group in 2007 and is pleased to announce that distribution payments based on this financial success will be provided to all enrolled Inuvialuit beneficiaries over the age of 18.

In accordance with the IRC Distribution Policy, each enrolled Inuvialuit beneficiary will share in the success of the 2007 profits with a distribution payment of $1,001.09. A total of 3,812 beneficiaries will receive payments. Payments can be expected in early May.

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. As a result, $3,816,150 will be distributed to the beneficiaries.

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

"The distribution to our Inuvialuit beneficiaries is the largest to date. We are pleased to share our financial success with the beneficiaries and look forward to its continuation in the years ahead," said Nellie J. Cournoyea, Chair and CEO of IRC.

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.