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 FOR RELEASE:

Immediately
February 27, 2007


Comptroller DiNapoli Announces Details of the Sale of General Obligation Tax-Exempt and Taxable Bonds

State Comptroller Thomas P. DiNapoli today announced the details of the competitive sale of approximately $158,735,000 of New York State Tax-Exempt General Obligation Bonds, Series 2007A (the “Series 2007A Tax-Exempt Bonds”) and approximately $21,810,000 of New York State Taxable General Obligation Bonds, Series 2007B (the “Series 2007B Taxable Bonds”) on March 7, 2007. The Series 2007A Tax-Exempt Bonds, with an expected date of delivery of March 22, 2007, will mature over one to thirty years. The Series 2007B Taxable Bonds, also with an expected date of delivery of March 22, 2007, will mature over one to ten years.

The net proceeds of the Series 2007A Tax-Exempt Bonds will be used to finance capital expenditures made or anticipated to be made, during the prior, current or subsequent State fiscal years for Accelerated Capacity and Transportation Improvements of the Nineties, Clean Water/Clean Air, Environmental Quality 1986, Rebuild New York Through Transportation Infrastructure Renewal, Environmental Quality 1972, and Rebuild and Renew New York Transportation bond act purposes. The net proceeds of the Series 2007B Taxable Bonds will be used to finance capital expenditures made or anticipated to be made, during the prior, current or subsequent State fiscal years for Clean Water/Clean Air and Energy Conservation Through Improved Transportation bond act purposes.

The New York State General Obligation Bonds Series 2007A and 2007B will be awarded pursuant to electronic competitive bidding to be held via BiDCOMP/Parity on behalf of the Comptroller of the State of New York on March 7, 2007, unless postponed, as set forth in the Notice of Sale published in The Bond Buyer on February 27, 2007.

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