Pan-Canadian Investors Committee Completes CCAA Restructuring



    TORONTO, Jan. 21 /CNW/ - The Pan-Canadian Investors Committee for
Third-Party Structured Asset-Backed Commercial Paper is pleased to announce
that the restructuring Plan affecting $32 billion of third-party ABCP has now
been fully implemented.
    Pursuant to the terms of the Plan, holders of Affected ABCP will have
their short term commercial paper exchanged for longer term notes whose
maturities match those of the assets previously contained in the underlying
conduits. Noteholders should expect to receive the new notes within three
business days through normal CDS book entry procedures. Details regarding
specific note entitlements are included in the 18th report of the
Court-appointed Monitor, Ernst & Young Inc. which is available on their
dedicated website (www.ey.com/ca/commercialpaper).
    "We are delighted to announce the successful completion after nearly a
year and a half of arduous negotiations, legal challenges and compromise
during ever changing credit market conditions," said Purdy Crawford, Chair of
the Investors Committee. "I want to thank all Committee Members for their
dedication and hard work over this prolonged period, as well as investors and
other stakeholders for their patience and understanding over the past 17
months as we worked through the many challenges associated with this
restructuring" he added.





For further information:

For further information: MEDIA, NATIONAL Public Relations, Toronto,
David Weiner, Tel. (416) 848-1633, Cell: (416) 931-4633; Montreal, Roch
Landriault, Tel. (514) 843-2345, Cell: (514) 249-4537; INVESTORS, Ernst &
Young Inc., Pierre Laporte, Tel. (514) 874-4383

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