September 23, 1997 * Provincial Treasury [to Jan 2010]Provincial Treasurer, Honourable Patricia J. Mella, today announced the sale of a Province of Prince Edward Island debenture issue into the Canadian bond market. The new 10-year issue in the amount of $35,000,000 has a coupon rate of 6.00 per cent and will mature on October 3, 2007. The Debentures are being offered to the general public at a price of 99.80 and will yield 6.027 per cent to maturity. Mrs. Mella said, "The yield and coupon rates we managed to obtain for this issue are the lowest financing rates that have been available to the province for a 10-year issue in over thirty years. As well, the credit spread from the Benchmark Canada bond is at its narrowest since 1965 and our debenture issue was well received." "Residents of Prince Edward Island interested in purchasing these debentures should contact their local brokers immediately." Media Contact: Roy Spence