RESIDENTS INVEST $550 MILLION IN SASKATCHEWAN SAVINGS BONDS

Released on August 4, 1999

Over half a billion dollars worth of Saskatchewan Savings Bonds (SSBs)

were sold in June, the highest level of sales since 1994.



"I am extremely pleased with the results of this year's Savings Bonds

campaign," Finance Minister Eric Cline said. "It is clear that

Saskatchewan people know the product, trust the product and have

continued confidence in the future of our province."



With the redemption of about $950 million in SSBs, total bonds

outstanding dropped from $1.5 billion to $1.1. billion. Cline says

this drop is consistent with the changing circumstances of the

province and largely due to the $100,000 purchase limit implemented

this year.



"Saskatchewan's debt has been cut dramatically and, along with it, our

borrowing requirements. The $100,000 limit allows us to manage our

debt exposure while still providing an important investment

opportunity for families and individuals.



"Most importantly, the SSB program offers convenience and highly

competitive interest rates, making it easy for the average investor to

save for the future. It's a win, win situation for both the province

and the people of Saskatchewan."



Saskatchewan continues to have the highest per capita provincial

savings bond holdings in Canada. Since 1992, the Province has

paid nearly $450 million in interest to Saskatchewan residents

through the SSB program.



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For more information, contact:



Sandra Lodoen

Saskatchewan Finance

Regina

Phone: (306) 787-6578