NEW SERIES OF SASKATCHEWAN SAVINGS BONDS ANNOUNCED

Released on April 28, 1998

Finance Minister Eric Cline today announced that Saskatchewan Savings

Bonds (SSB) Series VII will be on sale from June 13-27.



"Saskatchewan Savings Bonds are a tried and true investment, offering

security and a good rate of return," Cline said. "We want to

encourage people to continue to invest in their future through SSBs,

and they can do so for as little as $100."



SSBs are fully guaranteed by the province and available to

Saskatchewan residents only. The interest rate on the Bonds will

never drop below the initial rate but may go up depending on market

conditions. SSBs are redeemable annually without penalty for the full

amount plus interest.



Cline noted that the $250,000 per year purchase limit implemented in

1997 will remain in place for 1998 and that no significant changes

will be made to the terms and conditions. Holders of Series II SSBs,

which mature this year, can rollover up to an additional $250,000 of

their maturing bonds into new Series VII SSBs.



Series VII Bonds will be available at local credit unions, chartered

banks, trust companies, investment dealers and authorized agents

throughout Saskatchewan. The interest rate for SSBs will be announced

closer to the sales period.



"SSB holders have made a significant contribution to the Province

over the years," Cline said. "Although the Province's borrowing

requirements are now declining, this program will continue to

allow people to keep their investment dollars in Saskatchewan.

We look forward to another positive campaign as Saskatchewan

people respond to this opportunity to enhance their long-term

financial security."



Customers with questions about Saskatchewan Savings Bonds are

encouraged to call 1-800-667-4000.





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For more information, contact:



Sandra Lodoen

Finance

Regina

Phone: (306)787-6578