News release to holders of third party asset-backed commercial paper

This news release is being sent to all holders of third party asset-backed commercial paper ("Third Party ABCP") on behalf of the holders of Third Party ABCP who are Signatories to the August 16th announcement about a proposed solution to the liquidity problem in the structured finance ABCP market. The August 16th announcement is reproduced below.

Holders of Third Party ABCP who wish to participate in the process outlined under "Interim Agreement" in the August 16th announcement are advised to contact Ernst and Young Inc. ("EYI") immediately to confirm their support for the standstill agreement. By doing so, holders are simply committing to continue to roll their paper during the 60 day standstill period and not to take any action that would precipitate a default in any of these trusts. Holders will have a separate opportunity to accept or reject the full restructuring proposal once it is finalized. To indicate their support for and participation in the process, holders of Third Party ABCP will be asked to complete a noteholder acknowledgement in the form posted on the EYI web site at: www.ey.com/global/content.nsf/Canada/Canadian_commercial_paper.

EYI will be gathering relevant information about holders of Third Party ABCP and their holdings, and will be available to provide information to, and answer questions from, holders of ABCP issued by the trusts listed in the August 16th announcement. Holders indicating their support for the process will be able to obtain additional information through periodic emailings from EYI and through the web site noted above. Such holders will also be invited to participate in discussions on any proposed solutions through periodic conference calls. To this end, EYI will prepare a list of holders of ABCP that would like to participate in discussions on proposed solutions or to obtain additional information. Contact information for EYI is posted on the web site noted above.

Please note that the news release published on August 16 is available in PDF format.