Suncor Energy reports $600 million debt issue

    All financial figures are in Canadian dollars.

    CALGARY, March 21 /CNW/ - Suncor Energy Inc. reports that it has arranged
for the issuance of $600 million in principal amount of Series 4 Medium Term
Notes maturing on March 26, 2037. The notes will have a coupon of 5.39% and be
priced at $99.72 to yield 5.409%. The net proceeds from the sale of the notes
will be used to repay commercial paper borrowings. Closing is scheduled for
March 26, 2007.
    These debt securities are rated "A-" by Standard & Poor's Rating Service
(S&P) and "A (low)" by DBRS Limited.
    The offering was made in Canada under Suncor's short form base shelf
prospectus dated February 12, 2007. BMO Capital Markets Inc., CIBC World
Markets Inc., RBC Capital Markets Inc., Scotia Capital Inc., and TD Securities
Inc. acted as 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

    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.

For further information:

For further information: Brad Bellows, (403) 269-8717

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Suncor Energy Inc.

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