Cameco Announces Fourth Quarter Dividend

Saskatoon, Saskatchewan, Canada, December 8, 1999

Cameco Corporation announced today that its board of directors declared a quarterly dividend of $0.125 (Cdn) per share, payable on January 14, 2000 to shareholders of record on December 31, 1999.

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For further information, please contact:

Elaine Kergoat Manager, Media & Public Relations Cameco Corporation Phone: (306) 956-6315 Fax: (306) 956-6318