NEW SASKATCHEWAN SAVINGS BONDS EARN 2.10 PER CENT

Released on June 9, 2004

The interest rate for Saskatchewan Savings Bonds (SSB) Series 13 has been set at 2.10 per cent.

The bonds will be available for purchase from June 10th to 25th at local credit unions, chartered banks, trust companies, investment dealers and other authorized agents throughout Saskatchewan.

In announcing the rate, Finance Minister Harry Van Mulligen called the SSB program very successful, with a current value of just over $851 million.

"Judging by the success of this program people are optimistic about the future of this province as we head into our Centennial year," Van Mulligen said. "They value the safe, secure investment opportunity the Saskatchewan Savings Bonds provide, and the fact that the interest paid on the bonds stays here in the province."

Each year Saskatchewan Savings Bonds are available to residents of the province during a two-week window. The bonds can be purchased in denominations ranging from $100 to a maximum of $200,000. Investors also have the option of choosing an installment purchase plan for purchases up to $2,500. A popular feature of the bonds is that they are redeemable annually, without penalty, for the full amount plus interest.

Series 8 bonds are maturing this year. Holders have the option of cashing in their bonds and reinvesting in Series 13. Series 8 Bonds mature on July 15th, 2004. No interest is earned after that date.

Interest rates for outstanding series for the year ending July 15th, 2005 will be:

- Series 9 (matures July 15, 2005) – 5.75 per cent
- Series 10 (matures July 15, 2006) – 4.25 per cent
- Series 11 (matures July 15, 2007) – 3.25 per cent
- Series 12 (matures July 15, 2008) – 3 per cent

Anyone with questions about any series of SSBs, can call 1-800-567-7077 or e-mail saskbond@finance.gov.sk.ca. More information is also available by clicking on the Saskatchewan Savings Bond link at www.gov.sk.ca/finance. Bond application forms are available for print-off from that link. People purchasing bonds must still mail in a hard copy of their forms, with payment.

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For More Information, Contact:

Debbie Clark Finance Regina Phone: (306) 787-6605