Tender System to Deposit Holdings of ABCP Now Active - Deposits due by September 30

    TORONTO, Sept. 19 /CNW/ - The Pan-Canadian Investors Committee for
Third-Party Structured ABCP has announced that the process of tendering
existing holdings of ABCP in exchange for new restructured notes has begun.
CDS Clearing and Depositary Services Inc. has established a live on-line
tender system for custodian institutions. Noteholders holding physical
certificates must deposit them with CIBC Mellon Trust Company, using a letter
of transmittal that is available on the court-appointed Monitor's website at:
    The expiry date for tenders is Tuesday, September 30, 2008. All
Noteholders are encouraged to tender by this date. Noteholders who tender by
September 30 will be sent their new Plan Notes together with any interest
payments to which they are entitled, within three business days of the
restructuring being implemented. Noteholders are reminded that all ABCP
tendered will be returned in the event the Plan is not implemented for any
    The Investors Committee expects to be in a position to commence the
process for implementation of the restructuring by September 30 or shortly
thereafter, with a view to completing implementation during the month of

For further information:

For further information: MEDIA: NATIONAL Public Relations, Toronto,
Megan Spoore, Tel. (416) 848-1383; Montreal, Roch Landriault, Tel. (514)
843-2345, Cell: (514) 249-4537; INVESTORS: Ernst & Young Inc., Pierre Laporte,
(514) 874-4383

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