EXHIBIT XII

 Redemption

            $

Payable in Canadian Dollars:

1982/2002

5K

50,000,000

14.75

2

7,375,000

1,000,000

1983/2003

5L

125,000,000

12.875

2

16,093,800

2,500,000

1984/2004

5N

100,000,000

13.50

2

13,500,000

2,000,000

1986/2001

EC3

66,407,000

7.50

2

4,980,500

1,328,100

1986/2006

5Q

100,000,000

11

2

11,000,000

2,000,000

1987/2007

5S

42,300,000

10.79

2

4,564,200

846,000

1987/2007

EC4

15,447,000

9

2

1,390,200

308,900

1987/2010

5R

100,000,000

9.375

2

9,375,000

2,000,000

1988/2008

5T

100,000,000

11.25

2

11,250,000

2,000,000

1989/2012

5U

125,000,000

11

2

13,750,000

2,500,000

1989/2014

5V

150,000,000

10.125

1.5

15,187,500

2,250,000

1991/2001

5W

9,456,000

10.50

-

992,900

1991/2021

5X

140,544,000

10.95

-

15,389,600

1992/1998

EC5

150,000,000

9.125

-

13,687,500

150,000,000

1993/2003

EC6

150,000,000

8.75

2

13,125,000

3,000,000

1995/1999

J12

42,000,000

FLOATING

-

1,680,000

42,000,000

1995/2025

6B

100,000,000

9.15

.75

9,150,000

750,000

1996/2001

6D

100,000,000

7.6

-

7,600,000

1996/2004

5Z

98,895,000

9.55

-

9,444,500

1996/2026

6C

150,000,000

8.45

.75

12,675,000

1,125,000

1997/2007

6E

150,000,000

5.90

-

8,850,000

Anticipated 1998/1999

13,950,000

215,010,700

23,608,000

192,000,000

Payable in United States Dollars:

1987/2007

AF

100,000,000

11.625

2

16,507,500

2,800,000

1989/2019

AG

150,000,000

9

1.5

18,900,000

3,195,000

1990/2020

AH

150,000,000

9.875

.5

20,737,500

1,065,000

1990/2020

AJ

150,000,000

10

.5

21,000,000

1,035,000

1991/2021

AK

200,000,000

9

.5

25,560,000

1,400,000

1992/2022

AM

200,000,000

8.65

.5

24,566,000

1,400,000

1993/2023

AN

200,000,000

7.32

.75

20,788,800

2,100,000

1994/2001

J11

23,500,000

FLOATING

-

  2,035,600

150,095,400

12,995,000

Payable in Japanese Yen:

1994/1999

J9

4,700,000,000

4.8

-

3,045,600

1994/2001

J10

2,300,000,000

4.95

-

  1,541,200

  4,586,800

Payable in Swiss Francs:

1985/2000

S3

150,000,000

5.375

-

8,385,000

1990/1999

S6

125,000,000

7.50

-

9,750,000

130,000,000

1991/2003

S7

150,000,000

7

2

10,920,000

2,191,700

1997/2002

S8

150,000,000

3.25

-

  5,070,000

34,125,000

2,191,700

130,000,000

322,000,000

Canada Pension Plan: (20 Year Term)

1978/79

3A

36,622,000

9.35-10.16

-

2,393,300

1979/80

3A

40,070,000

9.98-12.74

-

4,242,100

1980/81

3A

42,645,000

11.61-13.46

-

5,416,800

1981/82

3A

52,973,000

13.66-17.51

-

8,173,600

1982/83

3A

52,104,000

12.01-16.53

-

7,645,000

1983/84

3A

50,738,000

10.92-12.14

-

5,882,300

1984/85

3A

47,146,000

12.08-14.06

0.004

6,303,100

177,500

1985/86

3A

50,570,000

10.58-12.57

0.011

5,806,900

543,100

1986/87

3A

59,659,000

9.04-10.17

0.012

5,735,200

744,900

1987/88

3A

43,829,000

9.12-11.07

0.014

4,280,400

604,700

1988/89

3A

41,635,000

9.62-10.39

0.015

4,196,400

616,800

1989/90

3A

45,188,000

9.15-10.31

0.016

4,475,100

706,300

1990/91

3A

40,432,000

9.78-11.33

0.017

4,385,400

685,700

1991/92

3A

40,858,000

9.81-10.04

0.017

4,052,800

684,800

1992/93

3A

28,770,000

9.17-  9.45

0.017

  2,695,300

   493,900

75,683,700

5,257,700

44,052,400

 322,000,000

 EXCHANGE RATES USED IN CONVERSION

U.S.

Average of Quarterly Forecasts : 1.4100 Cdn.