Final payment to debentureholders



    MONTREAL, June 7 /CNW Telbec/ - After having paid all expenses relating
to the termination of its mandate, the Trustee will pay to the
debentureholders the following amounts:

    
    -------------------------------------------------------------------------
    Series 2                                    Outstanding     Distribution
    -------------------------------------------------------------------------
    Total of Series 2
                       Outstanding           $55,191,000.00      $380,350.04
    -------------------------------------------------------------------------
    Series 3                                    Outstanding     Distribution
    -------------------------------------------------------------------------
    Total of Series 3
                       Outstanding           $49,000,000.00       $33,684.63
    -------------------------------------------------------------------------
    Series 4                                    Outstanding     Distribution
    -------------------------------------------------------------------------
    Total of Series 4
                       Outstanding           $40,244,000.00      $277,342.45

                                      Total $144,435,000.00      $995,377.12

                                    Payment rate per $1,000            $6.89
    -------------------------------------------------------------------------
    

    Pursuant to certain past undertakings, National Bank Financial and the
National Bank of Canada will redistribute to the qualified debentureholders of
Series 3 (the "small holders") amounts which both National Bank Financial and
National Bank of Canada will have received from the Trustee.
    The small debentureholders will receive, within the coming weeks, a
second cheque which will amount to $5.30 per $1,000 of Series 3 debentures,
computed along the terms used during the first redistribution in 1998.

    These payments are final.

    Debentureholders which have change address since the last payment in 2002
or wish to have additional information should communicate with Computershare
Trust Company of Canada, 1500 University Street, 7th Floor, Montréal, by
telephone at the following number 1-800-564-6253.

    The Trustee, Computershare Trust Company of Canada, and the informal
committee of debentureholders wish to thank the investors for their patience
and their support throughout the long liquidation process of Génécan Financial
Corporation and especially during the lengthy tax procedures which have
delayed the final payment and brought additional expenses.

    The information committee of debentureholders of Génécan Financial
Corporation.




For further information:

For further information: Mtre. Serge Bourque, Lavery, de Billy, (514)
877-2997

Organization Profile

GENECAN FINANCIAL CORPORATION

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