BC Ferries to issue $250 million of bonds

    VICTORIA, March 16 /CNW/ - BC Ferries announced today that it has entered
into an agency agreement with a syndicate of investment banks to issue
$250 million of its senior secured bonds. The bonds will bear interest at
5.021% and will be for a term of 30 years. The issue is expected to close
March 20, 2007.

    %SEDAR: 00020627E

For further information:

For further information: Media Contact: BC Ferries, Communications, 
Victoria: (250) 978-1267

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