NEWS RELEASE: $3.9 Billion IN ONTARIO SAVINGS BONDS SALES

For Immediate Release
July 3, 2003

$3.9 BILLION IN ONTARIO SAVINGS BONDS SALES

TORONTO - The Ernie Eves government announced today that sales for 2003 Ontario Savings Bonds (OSBs) total $3.9 billion, the second highest sales in the history of Canadian provincial bond issues.

"We are very pleased with this response. Ontario Savings Bonds are obviously a popular investment option for Ontarians as they purchased $3.9 billion in bonds in only three weeks of sales," Finance Minister Janet Ecker said. "People are investing in a strong economy: more than a million net new jobs have been created, exports have doubled and we lead all G7 nations in growth."

The 2003 OSB sales represent an increase of 50 per cent over last year. During the past nine years, more than one million Ontario residents have invested $22 billion in OSBs.

Ontario Savings Bonds, on sale from May 30 to June 20, are backed 100 per cent by the Government of Ontario. They are sold in amounts from $100 to $500,000 and were made available at banks, trust companies, credit unions, caisses populaires, and through investment dealers.

"It is encouraging to see such a high demand for Ontario Savings Bonds - small to large investors who are purchasing OSBs are helping to build a better future for themselves and their province," Ecker said. "People are looking for investment security and they want the option of keeping their money in their own province."