SASKATCHEWAN SAVINGS BONDS TO BE SOLD IN JUNE

Finance Minister Eric Cline today announced that Saskatchewan Savings

Bonds (SSB) Series VIII will be on sale from June 12-26, 1999.



"I am pleased to announce that we will continue to offer this valuable

opportunity to Saskatchewan people. Saskatchewan Savings Bonds are

secure and competitive, and can be purchased for as little as $100,

making them an ideal choice for the average investor," Cline said.



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 said the SSB program has been very successful, with nearly

$1.5 billion in bonds currently in circulation.



"Saskatchewan people have turned around the province's financial

situation in the 1990s, cut $3.4 billion off the debt and

significantly reduced our borrowing requirements. Now that our

financial situation is stable, the focus of the SSB program is on

individuals and families who are saving for their future - for

retirement, their children's education, a family business or a

hard-earned vacation."



As a result of this shift in focus, a new purchase limit of

$100,000 per year will take effect with this year's sales

campaign.



"This new purchase limit is also consistent with good financial

management whereby the necessary financing is secured through a

variety of sources," Cline said. "And, an exception is made for

holders of a maturing series, who may roll an additional $100,000

into the new series."



All other terms and conditions relating to purchasers of the

bonds remain the same as in previous years.



Series VIII 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.



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

Saskatchewan Finance

Regina

Phone: (306) 787-6578