City of Toronto closes issue and sale of debentures

Date Closed: 9/25/2003

Value: C$180 million

On September 25, 2003 the City of Toronto issued $180,000,000.00 Instalment Debentures and $120,000,000.00 5.125% Sinking Fund Debentures (for the aggregate principal amount of $30,000,000).

Heather R. Douglas of BLG represented the underwriters led by RBC Dominion Securities Inc.