Saskatoon, Saskatchewan, Canada, March 31, 2009

Cameco Corporation (TSX: CCO; NYSE: CCJ) announced today that Grant Isaac, the widely respected dean of the Edwards School of Business at the University of Saskatchewan, will join Cameco on July 13, 2009 as senior vice-president corporate services.

Isaac replaces Rita Mirwald, who is retiring later this year after serving with Cameco since the company's formation in 1988.

Isaac joined the University of Saskatchewan in 2000 and was named dean of the former College of Commerce in 2006. He piloted the college through its transition to the Edwards School of Business in 2007 and is credited with attracting significant private sector support to the institution. He is a graduate of the University of Saskatchewan and has a PhD from the London School of Economics.

"Grant Isaac's outstanding leadership qualities, ability to manage major change initiatives and communication skills with a variety of stakeholders will help ensure Cameco's enduring success as we pursue our vision to be a dominant nuclear energy company," Grandey said in announcing the appointment. "Grant grew up in Saskatchewan with an intimate understanding of the province and the importance of the resource industry. He blends that with the international perspective he brings from his studies in the United Kingdom."

Isaac, married with three children, says he was drawn to Cameco because of the opportunity to join a Saskatchewan success story that is also an international corporate leader. "It's a tremendous opportunity in the place I call home."

In his new position, Isaac will become a member of a six-person senior executive team and contribute to the development of the company's business planning. He will also provide leadership to a number of departments with a focus on key stakeholders such as employees, investors, communities impacted by our operations and various levels of government.

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