GTAA CALLS SERIES 2008-2 MEDIUM TERM NOTES

TORONTO, Feb. 16 /CNW/ - The Greater Toronto Airports Authority (the "GTAA") announced today that it has exercised its right to redeem all $325 million of the outstanding Series 2008-2 Medium Term Notes (the "Bonds") on March 21, 2011 (the "redemption date").

The redemption price, determined in accordance with the provisions of the Master Trust Indenture dated December 2, 1997, the Eleventh Supplemental Indenture dated February 14, 2008 and Pricing Supplement No.2 dated December 3, 2008, will be calculated on March 16, 2011.  The redemption price, together with accrued interest will be paid on the redemption date.

Notice of redemption was delivered today to CDS Clearing and Depository Services Inc. ("CDS") and the trustee, BNY Trust Company of Canada. Non-registered holders, (banks, brokerage firms or other financial institutions) who maintain their interests in the Bonds through CDS, should contact their CDS customer service representative with any questions about the redemption. Alternatively, beneficial holders with any questions about the redemption should contact their representative brokerage firm or financial institution, which holds interests in the Bonds on their behalf.

The GTAA is the operator of Toronto Pearson International Airport, the busiest airport in Canada and one of the largest airports in North America in terms of passenger and air cargo traffic. In 2010, Toronto Pearson handled an estimated 31.9 million passengers.  The focus of the GTAA continues to be on competitiveness, growing the airport's status as an international gateway, meeting the needs of our travellers, and ensuring the long-term success of the organization, our airline customers and the regional economy.

SOURCE Greater Toronto Airports Authority

For further information:

GTAA Media Office    (416) 776-3709 


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