B.C. Issues Notes under Euro Programme

On April 24, 2003, the province of British Columbia issued $200 million 5.5 per cent notes due April 24, 2013, series BCEC-19, pursuant to its US$5 billion Euro debt issuance programme. Royal Bank of Canada Europe Limited and TD Bank were the lead underwriters for the offering, with a syndicate that included Bank of Montreal, CIBC World Markets plc, Commonwealth Bank of Australia, Deutsche Bank AG London, National Bank Financial Inc., Prudential-Bache International Ltd., Scotia Capital Inc., ABN AMRO Bank N.V., Bayerische Landesbank, BNP Paribas, Credit Suisse First Boston (Europe) Limited, Daiwa Securities SMBC Europe Limited, ING Belgium SA/NV, KBC Bank NV, WGZ-Bank Westdeutsche Genossenschafts-Zentralbank eG and WestLB AG.

On June 16, the province reopened the series by issuing a second tranche of $150 million 5.5 per cent notes due April 24, 2013, series BCEC-19, pursuant to its US$5 billion Euro debt issuance programme. Royal Bank of Canada Europe Limited and WestLB AG were the lead underwriters for the second tranche, with a syndicate that included Bank of Montreal, National Bank Financial, Scotia Capital and TD Bank.

The province was represented by Michael Shepherd of the Ministry of the Attorney General and the underwriters were represented by Peter Noble of Ogilvy Renault in London.

Lawyer(s)

Peter S. Noble