(December 9 – 17:35 ET) –
Laurentian Bank of Canada
has entered into an agreement with
a syndicate of Underwriters for
distribution of $100,000,000
aggregate principal amount of 7%
Debentures, Series 8, dated
December 15, 1999 and due December
15, 2009.


The Underwriters have agreed to
purchase the Debentures at a price
of 99.156% of their principal
amount, plus accrued interest
from December 15, 1999, if any.


The purpose of the Offering is
to enlarge the Bank’s Tier 2B
capital base. The Bank will file a
short form prospectus regarding the
Debentures with the securities
commission or other similar
regulatory authority of each of
the provinces in Canada and with
the Office of the Superintendent of
Financial Institutions Canada.


The syndicate of Underwriters is
composed of BLC Securities Inc.,
National Bank Financial Inc.,
RBC Dominion Securities Inc.,
Scotia Capital Inc., Merrill Lynch
Canada Inc., Nesbitt Burns Inc.
and CIBC World Markets Inc.
Closing of the Offering is expected
on December 15, 1999.

-IE Staff