Maturity Date: February 26, 2010
Term: 7 years, 7 months
Principal Protection: If held to full term, receive no less $112 for every $100 invested
Minimum Deposit: $2,000


Redeemable semi-annually at the option of the holder on the 30th day of June and the 31st day of December in each year, or the next business day if such dates are not business days, commencing June 30, 2004 to and including December 31, 2009, for a redemption price equal to the Principal Amount of the Note being redeemed, as adjusted for the performance of the Program during the period from the Issue Date to the date of redemption. Investors will be entitled to redeem their note by providing appropriate instructions to the agents, members of the selling group or other CDS participants with whom they hold their interests at least 15 business days prior to the redemption date.  See "Redemption Privilege" in the Information Statement for this Series. Redemptions on the following early redemption dates will be subject to an early redemption fee on the applicable redemption price, as follows:

Date	Early Redemption Fee
June 30, 2004	4%
December 31, 2004	4%
June 30, 2005	3%
December 31, 2005	3%
June 30, 2006	2%
December 31, 2006	2%
June 30, 2007	Nil
December 31, 2007	Nil
June 30, 2008	Nil
December 31, 2008	Nil
June 30, 2009	Nil
December 31, 2009	Nil