FOR RELEASE:

Comptroller Announces Sale of Refunding Bonds

Proceeds Will Redeem Some General Obligation Variable Rate Bonds

State Comptroller Thomas P. DiNapoli today announced plans to competitively sell about $351.3 million of New York State Tax-Exempt General Obligation Refunding Bonds, Series 2009C, on Monday, November 23. The fixed-rate bonds will mature over a period from approximately one to 21 years.

The proceeds of the sale will refund the outstanding General Obligation Variable Rate Bonds of the State currently in Short-Term Intermediate Rate mode and Flexible Rate mode. The competitive sale will be conducted via BiDCOMP/Parity on behalf of the Comptroller of the State of New York on November 23, 2009, unless postponed, as set forth in the Notice of Sale published in The Bond Buyer on November 16, 2009.

While the State of New York plans to refund the bonds listed below, it reserves its right to refund all, none, or only a portion of the bonds listed below, and its right to refund bonds not listed below. The list below is not final and is subject to change.

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