Update on restructuring of Skeena Capital Trust

    TORONTO, Dec. 10 /CNW Telbec/ - Dundee Securities Corporation, the
Administrative Agent to Skeena Capital Trust and the Pan-Canadian Investors
Committee for Third-Party Structured Asset Backed Commercial Paper announced
today the mailing of an information package to noteholders of Skeena Capital
    The information package describes the proposed terms of the restructuring
of the "A" notes, "E" notes and term floating rate notes held by investors of
Skeena Capital Trust, and representing a total of $2.1 billion of notes
outstanding. It also includes a valuation report on Skeena Capital Trust
prepared by JP Morgan, financial advisor to the Investors Committee as well as
information from the rating agency DBRS.
    Skeena noteholders have until 5:00 p.m. (EST) on December 17, 2007 to
communicate their intention to Dundee Securities as described in the
information package. The redemption of the notes is expected to be completed
by no later than December 19, 2007.

For further information:

For further information: NATIONAL Public Relations (Media): Toronto:
David Weiner, (416) 848-1633; Montreal: Mark Boutet, (514) 843-2385; Skeena
Capital Trust: Geoff Sinclair, (416) 840-8155

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