Quarterly Reports - 2006 - Q4

Cameco Corporation today reported its unaudited financial results for the fourth quarter and year ended December 31, 2006. All numbers in this release are in Canadian dollars, unless otherwise stated. For a more detailed discussion of our financial results, management's discussion and analysis (MD&A) following this news release.

"The company recorded record revenue, earnings and cash flow for 2006, despite lower earnings in the fourth quarter compared to the previous year," said Jerry Grandey, president and chief executive officer of Cameco. "As we have indicated, quarterly results are not a good indicator of Cameco's annual results and the fourth quarter certainly demonstrates this."