XN000022-1996-12-02 — Page 13

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Tax Reserve Certificates bear simple interest and interest is calculated for each month or part of a month from the date of purchase to the date on which the certificate is accepted for 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 to the holders of such certificates.

Payments are subject to the general rule that interest ceases to accrue after 36 complete months.

The new rate will apply to all certificates issued on or after December 2, 1996. Certificates which were issued before that date will continue to earn interest at the rates prevailing on their respective issue dates as follows:

3.00% per annum

3.84% per annum

4.56% per annum

5.04% per annum

5.64% per annum

5.28% per annum

4.92% per annum

4.68% per annum

4.80% per annum

for certificates issued on or after 8 July 1992 and before 30 March 1994;

for certificates issued on or after 30 March 1994 and before 25 May 1994;

for certificates issued on or after 25 May 1994 and before 24 August 1994;

for certificates issued on or after 24 August 1994 and before 4 December 1995;

for certificates issued on or after 4 December 1995 and before 4 March 1996;

for certificates issued on or after 4 March 1996 and before 1 June 1996;

for certificates issued on or after 1 June 1996 and before 2 September 1996;

for certificates issued on or after 2 September 1996 and before 2 December 1996; and

for certificates issued on or after 2 December 1996 until further notice.

End