XN000022-1984-07-12 — Page 7

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THURSDAY, JULY 12, 1984

TAX RESERVE INTEREST RATE RISES

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FROM TOMORROW (FRIDAY), THE NEW ANNUAL RATE OF INTEREST PAYABLE ON TAX RESERVE CERTIFICATES WILL BE 12.84% (TAX FREE) AS AGAINST THE CURRENT RATE OF 10.08% (TAX FREE).

NOTICE OF THIS WILL BE GAZETTED TOMORROW, AN INLAND REVENUE DEPARTMENT SPOKESMAN SAID TODAY.

+ INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $1.07 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETED MONTHS BETWEEN PURCHASE AND SURRENDER IN PAYMENT OF TAX.

+ INTEREST IS ONLY CREDITED WHEN CERTIFICATES ARE USED TO PAY TAX AND NO INTEREST IS DUE WHERE THE PRINCIPAL VALUE OF A CERTIFICATE IS REPAID BY A CHEQUE, HE SAID.

THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR AFTER JULY 13, 1984.

CERTIFICATES WHICH WERE ISSUED BEFORE JULY 13, 1984 WILL CONTINUE TO EARN INTEREST AS FOLLOWS:~

14.4% PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER OCTOBER 16, 1981 AND BEFORE DECEMBER 4, 1981;

12%

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 4, 1981 AND BEFORE JUNE 4, 1982;

10.8% PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JUNE 4, 1982 AND BEFORE AUGUST 27, 1982;

9%

7.8%

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 27, 1982 AND BEFORE DECEMBER 3, 1982;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 3, 1982 AND BEFORE MAY 27, 1983;

10.2% PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER

MAY 27, 1983 AND BEFORE OCTOBER 28, 1983;

12%

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER OCTOBER 28, 1983 AND BEFORE NOVEMBER 7, 1983;

9.6% PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER

NOVEMBER 7, 1983 AND BEFORE FEBRUARY 10, 1984; 7.8% PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER

FEBRUARY 10, 1984 AND BEFORE MARCH 23, 1934; 5.16% PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER MARCH 23, 1984 AND BEFORE MAY 18, 1984;

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