ACFA Completes Offering

On December 5, 2007, Alberta Capital Finance Authority (“ACFA”) completed an offering of $300 million principal amount of 4.65 per cent series EN non-callable bonds due June 15, 2017.

The offering was completed by a syndicate of underwriters led by CIBC World Markets Inc. and included RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., The Toronto-Dominion Bank, National Bank Financial Inc., Merrill Lynch Canada Inc., Casgrain & Company Limited, Deutsche Bank Securities Limited and Laurentian Bank Securities Inc.

ACFA and the Province of Alberta were represented by Michael Gluckman and Christopher Ontkean of Alberta Justice.

The underwriters were represented by Bennett Jones LLP with a team that consisted of Jon Truswell and Joel Gaucher