3 % PLACEMENT FEE
Dealers will be paid 3 % in the month in which they sell the product (as soon as the money is received in the Canadian Wheat Board fixed income account).

0 - 5% PLACEMENT FEE (NEGOTIABLE)
Dealers will be paid directly by the client enrolled in a fee-for-service or wrap program charged by the dealer. These fee-for-service or programs are subject to an annual, asset-based fee charged by the dealer, rather than commissions on each transaction.

2.5% ANNUAL TRAILER FEE

1.67% TRAILER FEE FOR THE PERIOD ENDING DECEMBER 31, 2006 (8/12 of annual trailer
fee)^‡‡

1.5% ANNUAL TRAILER FEE

0.25% TRAILER FEE FOR THE PERIOD ENDING JUNE 30, 2006 (1/6 of annual trailer
fee) ^‡‡

0.625% TRAILER FEE FOR THE 3-MONTH PERIOD ENDING MARCH 31, 2007

0.375% TRAILER FEE FOR THE 3-MONTH PERIOD ENDING SEPTEMBER 30, 2006

0.625% TRAILER FEE CONTINUES QUARTERLY UNTIL MATURITY AS FOLLOWS:
Periods ending: March, June, September, December

These quarterly payments equal 2.5 % per annum

Trailer fees are a percentage of current Net Asset Value (NAV)^† ¥

0.375% TRAILER FEE CONTINUES QUARTERLY UNTIL MATURITY AS FOLLOWS:
Periods ending: March, June, September, December

These quarterly payments equal 1.5 % per annum

Trailer fees are a percentage of current Net Asset Value (NAV)^† ¥

^† The agency agreement and the master selling agreement govern the Compensation terms. Trailer fees are based on allocated assets.

^‡‡If the closing date changes, the date of the first trailer fee and trailer fee amount may also be
subject to change.

^¥ Upon closing of the offering, (after payment of placement fees to the dealer), the Notes begin
with a Net Asset Value (NAV) of 100. All compensation is funded out of the fees and expenses of the Notes.