New Interest Rate For Variable-Rate Ontario Savings Bonds

    Flexible And Secure Investment Option For Ontario Residents

    QUEEN'S PARK, ON, Dec. 18 /CNW/ - The Ontario government announced today
that the interest rate for the Variable-Rate Ontario Savings Bonds (OSBs) will
be re-set at 4.10 per cent for the next six months.
    "We are committed to ensuring that OSBs continue to remain competitive
with similar investment instruments," Finance Minister Dwight Duncan said.
"Investing in Ontario Savings Bonds means that the funds stay here in Ontario,
contributing to the prosperity of the province."
    Ontario Savings Bonds have been issued every year since 1995. The
Variable-Rate Bond interest rates are reviewed and re-set every six months
according to prevailing market conditions. The new rate applies to
Variable-Rate Bonds purchased from 2001 to 2007. Another new rate will be set
on June 21, 2008.
    Variable-Rate Bonds are one of three OSB investment options that are
available annually during the first three weeks of June. The Fixed-Rate and
Step-Up Ontario Savings Bonds are unaffected by this interest rate.
    "OSBs provide Ontario investors with the opportunity to make a secure
investment in the strong and resilient economic future of Ontario," Duncan

    Ontario Savings Bonds are backed 100 per cent by the Province of Ontario
and can only be purchased by Ontario residents. OSBs are sold at banks, trust
companies, caisses populaires, credit unions and through investment dealers
across the province during the first three weeks of June.

    Disponible en français

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For further information:

For further information: Steve Erwin, Minister's Office, (416) 325-3645;
Scott Blodgett, Ministry of Finance, (416) 325-0324

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