FRN Variable Rate Fix

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 Re:                                                                                               Province Of Ontario
                                                                                                   CAD 250000000
                                                                                                   MATURING: 21-Oct-2015
                                                                                                   ISIN: XS0233372746
                                                                                                                        
 PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
 21-Oct-2008 TO 21-Jan-2009 HAS BEEN FIXED AT 2.722860 PCT
  
 DAY BASIS: ACTUAL/365(FIX)
  
 INTEREST PAYABLE VALUE 21-Jan-2009 WILL AMOUNT TO:
 CAD 686.31 PER CAD 100000 DENOMINATION

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