Cameco is one of the world's largest uranium producers accounting for 15% of world production from its mines in Canada and the US, and operations ramping up production in Kazakhstan.

The company has controlling ownership of the world's largest high-grade reserves and low-cost operations in northern Saskatchewan with ore grades up to 100 times the world average. Cameco has uranium refining, conversion and fuel manufacturing operations, as well as a partnership in Bruce Power, North America's largest nuclear generating station.

As Cameco expands its involvement in the nuclear fuel cycle, develops new mines in Canada and Central Asia, and pursues exploration opportunities across the globe, sustainability guides our decisions.

Cameco's definition of sustainable development is simply "meeting the needs of our stakeholders today, while preserving choices for future generations to meet their needs." We have chosen indicators that demonstrate how we are doing in regards to our governance and management practices and our four key measures of success:

• A safe, healthy and rewarding workplace
• A clean environment
• Supportive communities
• Outstanding financial performance

With its head office in Saskatoon, Saskatchewan Canada, Cameco is celebrating its 20^th Anniversary in 2008. The company's shares trade on the Toronto and New York Stock Exchanges.

At Cameco our sustainable development report plays an important role in helping us to communicate with our key stakeholders, monitor and measure our performance, and ensure accountability in all areas of our business. The 2008 Report includes data from the past three years, where available, and is organized around indicators that demonstrate how we are doing in regards to our governance and management practices and our four key measures of success:

• A safe, healthy and rewarding workplace
• A clean environment
• Supportive communities
• Outstanding financial performance

In an effort to address the information needs of Cameco's key stakeholder groups, we engaged Canadian Business for Social Responsibility to gather and collate feedback from our stakeholders through interviews and focus groups. The results and recommendations have been used to inform the development of this year's report, and will be used to improve our reporting in years to come.

Cameco has chosen 23 key performance indicators as a solid foundation to build on for sustainable development reporting. We feel that the parameters that we have chosen are appropriate for the company at this stage in our sustainable development program. The indicators are not as extensive or numerous as the Global Reporting Initiative (GRI) or other assessment programs such as Towards Sustainable Mining, but we have used these programs as a basis for developing our own guidelines. The scorecard that follows is designed to apply more directly to our core business and will have lasting relevance for our growth as a company.