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Financement-Québec Renews its US$2 Billion Euro Medium Term Note Programme

CLIENT

Merrill Lynch International

DATE

June 18, 2008

EXPERTISE

Corporate Finance and Securities, Banking and Financial Products

LAWYER(S)

Jules Charette, Peter Noble, Susan Mann, Leslie Cummer

Financement-Québec updated its US$2 Billion Euro Medium Term Note Programme on June 18, 2008. The arranger was Merrill Lynch International and the other dealers for the Programme were Banca IMI S.p.A., Bayerische Landesbank, Citigroup Global Markets Limited, Credit Suisse Securities (Europe) Limited, Deutsche Bank AG, London Branch, DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, J.P. Morgan Securities Ltd. and Société Générale.

The dealers were represented by Ogilvy Renault LLP, with a team including Leslie Cummer, Susan Mann and Peter Noble (London) and Jules Charette (Tax - Montréal).