XN000022-1985-07-16 — Page 12

TUESDAY, JULY 16,

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INTEREST ON TAX RESERVE CERTIFICATES DOWN ******

AS FROM TOMORROW (WEDNESDAY), THE NEW ANNUAL RATE OF INTEREST ON TAX RESERVE CERTIFICATES WILL BE 3.36 PER CENT (TAX FREE) AS AGAINST THE CURRENT RATE OF 3.6 PER CENT (TAX FREE), THE COMMISSIONEN FOR INLAND REVENUE ANNOUNCED TODAY.

INTEREST ON TAX RESERVE CERTIFICATES IS CALCULATED IN MONTHLY STEPS AND THE NEW RATE WILL BE $0.28 PER MONTH PER $100. INTEREST WILL BE CREDITED AS BEFORE IN RESPECT OF COMPLETE 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.

THE NEW RATE WILL APPLY TO ALL CERTIFICATES ISSUED ON OR AFTER JULY 17, 1985.

CERTIFICATES ISSUED BEFORE JULY 17, 1985 WILL CONTINUE TO EARN INTEREST AS FOLLOWS:

12.84 PER CENT

10.8 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JULY 13, 1984 AND BEFORE AUGUST 10, 1984;

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER AUGUST 10, 1984 AND BEFORE AUGUST 31, 1984;

9.6 PER CENT PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER

AUGUST 31, 1984 AND BEFORE OCTOBER 5, 1984;

8.52 PER CENT

7.08 PER CENT

PER ANNUM FOR CERTIFICATES OCTOBER 5, 1984 AND BEFORE

ISSUED ON OR AFTER OCTOBER 31, 1984;

8.04 PER CENT PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER

OCTOBER 31, 1984 AND BEFORE NOVEMBER 28, 1984; 7.56 PER CENT PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER

NOVEMBER 28, 1984 AND BEFORE DECEMBER 28, 1994; PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER DECEMBER 28, 1984 AND BEFORE JANUARY 16, 1985; PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JANUARY 16, 1985 AND BEFORE JANUARY 30, 1985; PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER JANUARY 30, 1985 AND BEFORE APRIL 3, 1985,

6.6 PER CENT

5.52 PER CENT

5.04 PER CENT

PER ANNUM FOR CERTIFICATES ISSUED ON OR AFTER APRIL 3, 1985 AND BEFORE APRIL 24, 1985;

/4.56 PER CENT