Investor Presentaiton

Contribution of Individual Resources to Total Alaska Resource Production Value Before Statehood (1868-1958) Fur 5% Fish 63% Copper 7% Gold 25% $40 Billion After Statehood (1959-2002) Mining 5% 84% Oil and Gas 11% Fish (In $2002) $350 Billion* (In $2002) *Excludes value of timber produced, since no data is available. Value of agriculture is a fraction of 1 percent of total resource value. Source: "Blinded by Riches," UA Research Summary No. 3 Alaska's economy has always depended heavily on natural resources. Before Alaska became a state in 1959, the fishing and mining industries-along with government accounted for most of the jobs and income in Alaska, directly or indirectly. The discovery of oil on Alaska's North Slope. in the 1960s drastically changed Alaska's economy. Alaska's oil production is so valuable that it now dominates Alaska's economy. 1868 Value of Alaska Resource Production, 1868-2002 (In 2002 Dollars) 1868-1958: $40 billion Peak Value Gold 1905 Peak Value Copper Peak Value Salmon 1916 1948 1959 1959-2002: $350 billion Peak Value Oil Source: Terrence Cole and Pamela Cravez, "Blinded By Riches," UA Research Summary No. 3 1981 2002 18

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