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Finning issues C$150 Million seven year note

Finning International Inc, the parent company of Hewden Stuart, the UK crane and access hirer, announced today that it is issuing a 7-year C$150 (£64) million unsecured Medium Term Note with an effective interest rate of 4.65% per annum, payable semi-annually.

The issue will mature on December 14, 2011, and will settle on December 14, 2004.

Proceeds from the offering will be used to pay down existing shorter term, higher interest, bank indebtedness.

The syndicate includes RBC Capital Markets Inc. and Scotia
Capital Inc. as co-lead managers and co-book runners, and BMO Nesbitt Burns Inc., CIBC World Markets Inc., HSBC Securities (Canada) Inc., National Bank Financial Inc. and TD Securities Inc. as agents.