Suncor Energy reports $700 million debt issue

    All financial figures are in Canadian dollars.

    CALGARY, May 15 /CNW/ - Suncor Energy Inc. reports that it has arranged
for the issuance of $700 million in principal amount of Series 4 Medium Term
Notes maturing on May 22, 2018. The notes will have a coupon of 5.80% and be
priced at $99.925 to yield 5.81%. Suncor intends to add the net proceeds from
the sale of the notes to its general funds and to use such funds to repay
outstanding commercial paper borrowings. Closing is scheduled for May 22,
2008.
    These debt securities are expected to be assigned a rating of "A
(low)/(stable trend)" by DBRS Limited and "A- (negative outlook)" by Standard
& Poor's Rating Service (S&P).
    The offering was made in Canada under Suncor's short form base shelf
prospectus dated February 12, 2007. CIBC World Markets Inc. and TD Securities
Inc. acted as joint lead agents for the offering.
    The Series 4 Medium Term Notes have not been registered under U.S.
securities laws and may not be offered, sold or delivered in the
United States.

    Suncor Energy Inc. is an integrated energy company headquartered in
Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray,
Alberta, extracts and upgrades oil sands and markets refinery feedstock and
diesel fuel, while operations throughout Western Canada produce natural gas.
Suncor operates a refining and marketing business in Ontario with retail
distribution under the Sunoco brand. U.S.A. downstream assets include pipeline
and refining operations in Colorado and Wyoming and retail sales in the Denver
area under the Phillips 66(R) brand. Suncor's common shares (symbol: SU) are
listed on the Toronto and New York stock exchanges. Suncor Energy (U.S.A.)
Inc. is an authorized licensee of the Phillips 66(R) brand and marks in the
state of Colorado. Sunoco in Canada is separate and unrelated to Sunoco in the
United States, which is owned by Sunoco, Inc. of Philadelphia.

For further information: Brad Bellows, [phone]