$490 MILLION IN SASKATCHEWAN SAVINGS BONDS SALES

Released on August 16, 2000

Finance Minister Eric Cline today announced that nearly half a billion dollars

worth of Saskatchewan Savings Bonds (SSBs) were sold in June.



Since their introduction in 1992, the bonds have offered Saskatchewan residents

a secure investment opportunity at competitive interest rates.



This year, the province paid more than $57 million in interest to more than

40,000 Saskatchewan residents. Since 1992, the province has paid more than

$600 million in interest to Saskatchewan residents through the SSB program.



With the redemption of about $730 million in SSBs, total bonds outstanding

dropped from $1.1 billion in 1999 to $800 million. This is consistent with the

changing circumstances of the province and is due in part to the new $100,000

purchase limit implemented in 1999, down from $250,000 in previous years.



"Saskatchewan's debt continues to come down," Cline said. "Our debt to GDP

ratio has gone from 70 per cent in the early 1990s to under 40 per cent. Lower

debt has reduced our reliance on SSBs as a debt management tool.



"We will, however, continue to make SSBs available as an important investment

opportunity for Saskatchewan families and individuals. The bonds continue to

offer a 'made in Saskatchewan' investment opportunity at competitive interest

rates."



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For further information, contact:



Roy Schneider

Saskatchewan Finance

Regina

Phone: (306) 787-8109