Standard & Poor's Announces S&P/TSX Canadian Bond Index Rebalancing Report For May 2005

Standard & Poor's has completed the monthly rebalancing of the S&P/TSX Canadian Bond Index. According to index methodology, the universe of Canadian bonds is exhaustively reviewed to reflect changes in par amount and term to existing index constituents.

Qualifying new issues are added to the index and existing constituents that no longer meet the criteria for inclusion are removed.

A complete list of bond issues entering and leaving the S&P/TSX Canadian Bond Index after the close of May 31, 2005, as a result of the review follows at the end of this release.

Additions to and deletions from the S&P/TSX Canadian Bond Index do not in any way reflect an opinion on the investment merits of the companies concerned.

For detailed information about the S&P/TSX Canadian Bond Index, please go To www.globalindices.standardandpoors.com

About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research, data and valuations. With 6,000 employees located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit www.standardandpoors.com.

Bonds Exiting

Bonds Entering