SASKATCHEWAN SAVINGS BONDS CONTINUE AS MOST POPULAR IN CANADA

Released on July 30, 1997

Finance Minister Eric Cline today announced that Saskatchewan

residents invested $186.3 million in Saskatchewan Savings Bonds (SSBs)

this year, improving on last year's sales and maintaining SSBs as the

most popular government savings bond in Canada.



Saskatchewan people continue to hold more provincial savings bonds per

capita than citizens of any other province. Saskatchewan has also

surpassed the per capita holdings of Canada Savings Bonds, a program

that has been in place for more than a half century.



In total, 16,000 Saskatchewan people bought the Series VI bonds during

the two week sales period between June 14 and 28. This brings to

67,000 the number of Saskatchewan residents holding provincial bonds.



"Once again, Saskatchewan people responded to our provincial savings

bond program," Cline said. "Increased sales and the fact our

residents hold the highest per capita level of provincial bonds in

Canada shows continued public confidence and optimism in the future of

our province."



Another successful savings bond campaign further reduces the

government's need to borrow outside the province. In total,

Saskatchewan Savings Bonds represent over 10 per cent of the

province's total debt.



"This, in turn, keeps a significant portion of interest payments

on our debt here at home," Cline said. "In 1997 alone we paid

over $95 million in interest payments to Saskatchewan people,

bringing our total payments to over $350 million since the

beginning of the program in 1992."



Series VI bonds provide a five-year investment at an interest

rate of 4 per cent, guaranteed by the Provincial Government.

Depending on market conditions, the interest rate may rise during

the five-year term, but it can never fall below 4 per cent.



"With a string of balanced budgets and a growing economy,

Saskatchewan Savings Bonds continue to be an attractive

investment opportunity for Saskatchewan people and a secure way

to help build our future," Cline said.



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For more information, contact:



Brian Humphreys

Finance

Regina

Phone: (306) 787-6673