Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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Quebec (42JX)

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Thursday 23 November, 2006

Quebec

Annual Information Update

Quebec
23 November 2006


Regulatory Announcement

Go to market news section

Company        Quebec
TIDM           •
Headline       Annual Information Update
Released       •
Number         •


                            Regulatory Announcement

                                     Quebec
                           Annual Information Update

This annual information update is required by and is being made pursuant to
Article 10 of the Prospectus Directive as implemented in the United Kingdom and
not for any other purpose and neither Quebec, nor any other person, takes any
responsibility for, or make any representation, express or implied, as to the
accuracy or completeness of, the information contained therein (except as
expressly be set out therein). The information referred below is not necessarily
up to date as at the date of this annual information update and Quebec does not
undertake any obligation to update any such information in the future.
Furthermore, such information may have been prepared in accordance with the laws
or regulations of a particular jurisdiction and may not comply with or meet the
relevant standards of disclosure in any jurisdiction. Neither this annual
information update, nor the information referred to below constitutes, by virtue
of this communication, an offer of any securities addressed to any person and
should not be relied on by any person.

Quebec announces that in accordance with Prospectus Rule 5.2, the following
information has been published or made available to the public over the previous
12 months in compliance with laws and rules dealing with the regulation of
securities, issuers of securities and securities markets.

1.                  Filings in the U.S.

The following is a list of documents filed by Quebec with the U.S. Securities
and Exchange Commission between November 23, 2005 and November 23, 2006. These
documents are available on EDGAR at http://www.sec.gov/edgar/searchedgar/
companysearch.htlm

Date of Filing    Document

2005-12-22        Form 18K/A including:

                        Exhibit 99.5 - Additional disclosure to Annual Report 
                        (on Form 18-K/A) of Quebec for the fiscal year ended 
                        March 31, 2005.

2006-01-13        Prospectus Supplement dated January 13, 2006 relating to 
                  resale of debt securities and medium-term notes.

2006-02-21        Preliminary Prospectus Supplement dated February 21, 2006 
                  relating to Global Notes to be issued.

2006-02-24        Final Terms Sheet dated February 22, 2006 relating to 
                  U.S.$1,250,000,000 5.00% Global Notes Series QD due 
                  March 1, 2016.

2006-02-24        Prospectus Supplement dated February 22, 2006 relating to 
                  U.S.$1,250,000,000 5.00% Global Notes Series QD due 
                  March 1, 2016.

2006-03-03        Form 18K/A including :

                        Exhibit 1.2 - Terms Agreement, dated February 22, 2006, 
                        between Quebec and Merrill Lynch, Pierce, Fenner & Smith
                        Incorporated as Representative of the several 
                        Underwriters named therein, with Quebec Underwriting 
                        Agreement Standard Provisions (Debt Securities), dated 
                        February 22, 2006, attached thereto ;

                        Exhibit 4.2 - Fiscal Agency Agreement, dated as of 
                        March 1, 2006, between Quebec and JPMorgan Chase Bank, 
                        N.A., as fiscal agent, registrar, principal paying
                        agent and transfer agent, with form of Global Note 
                        attached thereto ;

                        Exhibit 5.4 - Opinion and consent of Belanger Sauve 
                        L.L.P., Quebec and Canadian counsel to Quebec ;

                        Exhibit 5.5 - Consent of Ogilvy Renault LLP, Canadian 
                        counsel to the Underwriters;

                        Exhibit 5.6 - Consent of Sullivan & Cromwell LLP, 
                        special United States tax counsel to Quebec; and

                        Exhibit 99.6 - Itemized list of expenses incurred or to 
                        be incurred or borne by or for the account of Quebec or 
                        properly charged thereto.

2006-03-27       Form 18K/A including :

                        Exhibit 99.7 - Excerpts from '2006-2007 Budget - Budget 
                        Speech', March 23, 2006;

                        Exhibit 99.8 - Excerpt from Section 1 of '2006-2007 
                        Budget - Budget Plan', March 23, 2006; and

                        Exhibit 99.9 - Section 2 from '2006-2007 Budget - Budget 
                        Plan', March 23, 2006.

2006-06-29       Annual Report (on Form 18-K) of Quebec for the fiscal year 
                 ended March 31, 2006.

2006-07-07       Form 18K/A including:

                        Exhibit 99.2 - Monthly Report on Financial Transactions 
                        as at April 30, 2006.

2006-09-01       Form 18K/A including;

                        Exhibit 99.3 - Monthly Report on Financial Transactions 
                        as at May 31, 2006; and

                        Exhibit 99.4 - Monthly Report on Financial Transactions 
                        as at June 30, 2006.

2006-09-27       Form 18K/A including:

                        Exhibit 99.5 - Monthly Report on Financial Transactions 
                        as at July 31, 2006.



2006-09-29       Registration Statement under Schedule B of the Securities Act 
                 of 1933, including:

                        Exhibit 1.1 - Form of Underwriting Agreement;

                        Exhibit 4.1 - Form of Fiscal Agency Agreement;

                        Exhibit 4.3 - Form of Global Security;

                        Exhibit 23.1 - Consent of Belanger Sauve LLP; and

                        Exhibit 23.2 - Consent of Ogilvy Renault LLP.

2006-10-04       Notice of Effectiveness in regard with the Registration 
                 Statement filed on September 29, 2006.

2006-10-10       Form 18K/A including:

                        Exhibit 99.6 - Additionnal disclosure to Annual Report 
                        (on Form 18K) of Quebec as of March 31, 2006.

2006-10-27       Form 18K/A including:

                        Exhibit 99.7 - Monthly Report on Financial Transactions 
                        as at August 31, 2006.

2006-10-30       Form 18K/A including:

                        Exhibit 99.8 - Consolidated Financial Statements 
                        (volume 1 of the Public Accounts) of Quebec for the 
                        fiscal year ended March 31, 2006.

2006-11-06       Preliminary Prospectus Supplement dated November 6, 2006 
                 relating to Global Notes to be issued.

2006-11-07       Final Terms Sheet dated November 7, 2006 relating to
                 U.S.$1,500,000,000 5.125% Global Notes Series QE due 
                 November 14, 2016.

2006-11-09       Prospectus Supplement dated November 7, 2006 relating to
                 U.S.$1,500,000,000 5.125% Global Notes Series QE due 
                 November 14, 2016.

2006-11-17       Form 18K/A including:

                        Exhibit 1.2 - Terms Agreement, dated November 7, 2006, 
                        between Quebec and Merrill Lynch, Pierce, Fenner & Smith 
                        Incorporated as Representative of the several 
                        Underwriters named therein, with Quebec Underwriting 
                        Agreement Standard Provisions (Debt Securities), dated 
                        November 7, 2006, attached thereto ;

                        Exhibit 4.2 - Fiscal Agency Agreement, dated as of 
                        November 14, 2006, between Quebec and Deutsche Bank 
                        Trust Company Americas, as fiscal agent, registrar,
                        principal paying agent and transfer agent, and Deutsche 
                        Bank AG, London Branch, as London paying agent and 
                        London transfer agent, with form of Global Note
                        attached thereto ;

                        Exhibit 5.4 - Opinion and consent of Desjardins Ducharme 
                        L.L.P., Quebec and Canadian counsel to Quebec ;

                        Exhibit 5.5 - Consent of Ogilvy Renault LLP, Canadian 
                        counsel to the Underwriters;

                        Exhibit 5.6 - Consent of Sullivan & Cromwell LLP, 
                        special United States tax counsel to Quebec; and

                        Exhibit 99.9 - Itemized list of expenses incurred or to 
                        be incurred or borne by or for the account of Quebec or 
                        properly charged thereto.


2. Filings in Japan

The following is a list of documents filed by Quebec with Director of the Kanto
Local Finance Bureau between November 23, 2005 and November 23, 2006. These
documents are available on EDINETat www.fsa.go.jp

Date of Filing     Document

2006-08-16         Annual Securities Report for the fiscal year ended 
                   March 31, 2006.

2006-08-16         Amendment to Shelf Registration Statement (Uridashi).

2006-08-16         Amendment to Shelf Registration Statement (Samurai).



3. Filings in Australia

The following is a list of documents filed by Quebec with the Australian Stock
Exchange between November 23, 2005 and November 23, 2006. These documents are
available at www.asx.com.au under 'Listed companies', then ' Prices, Research &
Announcements' and ' Announcements'.

Date of Filing     Document

2005-12-22         Additional disclosure to Annual Report (on Form 18K) of 
                   Quebec for the fiscal year ended March 31, 2005.

2005-12-19         Consolidated Financial Statements (volume 1 of Public 
                   Accounts) of Quebec for the fiscal year ended March 31, 2005.

2005-12-19         2004-2005 Results and Quarterly Presentation of Financial 
                   Transactions as at September 30, 2005.

2006-03-27         Excerpts from Quebec's 2006-2007 Budget.

2006-06-30         Annual Report of Quebec (on Form 18-K) for the fiscal year 
                   ended March 31, 2006.

2006-07-10         Monthly Report on Financial Transactions as at April 30,2006.

2006-09-06         Monthly Reports on Financial Transactions as at May 31, 2006 
                   and June 30, 2006.

2006-09-28         Monthly Report on Financial Transactions as at July 31, 2006.

2006-10-10         Additionnal disclosure to Annual Report (on Form 18K) of 
                   Quebec for the fiscal year ended March 31, 2006.

2006-10-30         Monthly Report on Financial Transactions as at 
                   August 30, 2006.

2006-10-31         Consolidated Financial Statements (volume 1 of Public 
                   Accounts) of Quebec for the fiscal year ended March 31, 2006.



4. Filings in Luxembourg

The following is a list of documents filed by Quebec with the Luxembourg Stock
Exchange between November 23, 2005 and November 23, 2006. Except as otherwise
noted below, these documents are available at www.bourse.lu.

Date of filing     Document

2005-12-04         Passported Prospectus dated July 18, 2005 pursuant to the
                   U.S.$10,000,000,000 Euro Medium Term Note Programme of Quebec.

2005-12-22         Passported 1st Supplementary Prospectus dated December 21, 
                   2005 pursuant the U.S.$14,000,000,000 Euro Medium Term Note 
                   Programme of Quebec. 1

2006-01-11         Passported 2nd Supplementary Prospectus dated January 10, 
                   2006 pursuant the U.S.$14,000,000,000 Euro Medium Term Note 
                   Programme of Quebec. 1

2006-04-03         Final Terms dated March 27, 2006 relating to EUR100,000,000 
                   Flip Notes due April 13, 2018 under the U.S.$14,000,000,000 
                   Euro Medium Term Note Programme. 1

2006-04-12         Passported 3rd Supplementary Prospectus dated April 5, 2006 
                   pursuant the U.S.$14,000,000,000 Euro Medium Term Note 
                   Programme of Quebec. 1

2006-07-25         Passported Prospectus dated July 6, 2006 pursuant the 
                   U.S.$14,000,000,000 Euro Medium Term Note Programme of 
                   Quebec.1

2006-10-17         Passported 1st Supplementary Prospectus dated October 9, 2006
                   pursuant the U.S.$14,000,000,000 Euro Medium Term Note 
                   Programme of Quebec. 1

2006-11-14         Passported 2nd Supplementary Prospectus dated November 9, 
                   2006 pursuant the U.S.$14,000,000,000 Euro Medium Term Note 
                   Programme of Quebec.1



5. Filings in the U.K.

Quebec has also made the following UK regulatory announcements via RNS, a
Regulatory information Service, between November 23, 2005 and November 23, 2006.
These documents can be found on the RNS's website at www.RNS.com under 'Market
News'. Then search by name and select 'Regulatory' button below search screen.

Date of Filing     Document.

2005-12-19         Notice of availability of the following documents at the 
                   UKLA's Document Viewing Facility:

                        * Quebec's Annual Consolidated Financial Statements for 
                          the fiscal year ended March 31, 2005;

                        * Quebec's 2004-2005 Results and Quarterly Presentation 
                          of Financial Transactions as at September 30, 2005.

2006-01-03         Supplementary Prospectus dated December 21, 2005 relating to 
                   the U.S.$14,000,000,000 Euro Medium Term Note Programme of 
                   Quebec including the documents incorporated by reference and
                   French, Dutch, German, Danish, Norvegian, Spanish and Swedish 
                   translations of the EMTN prospectus Summary required for 
                   passporting purposes.

2006-01-10         Supplement Prospectus dated January 10, 2006 relating to the 
                   U.S.$14,000,000,000 Euro Medium Term Note Programme of
                   Quebec.

2006-01-27         Final Terms dated January 26, 2006 relating to 
                   MXN1,500,000,000 8.27 per cent. Notes due January 19, 2016 
                   issued pursuant to a Prospectus dated July 18, 2005, as 
                   supplemented by supplemental Prospectuses dated December 21, 
                   2005 and January 10, 2006, and relating to the
                   U.S.$14,000,000,000 Euro Medium Term Note Programme of Quebec.

2006-03-10         Prospectus dated March 9, 2006 relating to U.S.$1,250,000,000 
                   5.00% Global Notes Series QD due March 1, 2016 issued by 
                   Quebec (together with Appendix A and documents incorporated 
                   by reference).

2006-03-13         Series QC due November 9, 2015 issued by Quebec (together 
                   with Appendix A and documents incorporated by reference);

                   Prospectus dated March 9, 2006 relating to NZ$300,000,000 
                   6.75% Global Notes including the documents incorporated by 
                   reference.

2006-03-29         Amendment to Annual Report (on Form 18-K/A) of the Issuer for 
                   the fiscal year ended March 31, 2005.

2006-04-06         Supplementary Prospectus dated April 5, 2006 relating to the
                   U.S.$14,000,000,000 Euro Medium Term Note Programme of Quebec.

2006-05-25         Annual Information Update.

2006-07-07         Prospectus dated July 6, 2006 relating to the 
                   U.S.$14,000,000,000 Euro Medium Term Note Programme of Quebec.

2006-10-09         Supplementary Prospectus dated October 9, 2006 relating to 
                   the U.S.$14,000,000,000 Euro Medium Term note Programme of 
                   Quebec.

2006-10-10         Final Terms dated October 9, 2006 relating to CDN$200,000,000
                   Floating Rate Notes due October 2016 issued pursuant to a 
                   Prospectus dated July 6, 2006, as supplemented by a 
                   Supplementary Prospectus dated October 9, 2006, and relating 
                   to the U.S.$14,000,000,000 Euro Medium Term Note programme of
                   Quebec.

2006-11-08         Amendment to Annual Report (on Form 18-K/A) of Quebec for the 
                   fiscal year ended March 31, 2006.

2006-11-10         2nd Supplementary Prospectus dated November 9, 2006 relating 
                   to the U.S.$14,000,000,000 Euro Medium Term Note Programme of 
                   Quebec.

2006-11-13         Prospectus dated November 10, 2006 relating to 
                   U.S.$1,500,000,000 5.125% Global Notes Series QE due 
                   November 14, 2016 issued by Quebec (together with Appendix A 
                   and documents incorporated by reference).

The Final Terms dated March 27, 2006 relating to EUR100,000,000 Flip Notes due
April 13, 2018 under the U.S.$14,000,000,000 Euro Medium Term Note Programme
which were listed on the Luxembourg Stock Exchange were also filed with UKLA as
comptetent authority for the EMTN Programme and are available as noted under
section 4. Filings in Luxembourg above.

Certain documents related to the announcements noted above were delivered to the
UK Document Viewing Facility (Financial Services Authority, 25 North Colonnade,
Canary Wharf, London E14 5HS).

A copy of this Annual Information Update and all documents referred to in it can
be obtained from the office of:

                                     QUEBEC
     Direction du financement des organismes publics et de la documentation
                                   financiere
                             Ministere des Finances
                              12, rue Saint-Louis
                         Quebec, Quebec G1R 5L3 Canada
                             (Tel: (418) 643-8141)
                              Attention: Director

November 23, 2006
--------------------------

(1) Available as noted under 5. Filings in the UK below.



                      This information is provided by RNS
            The company news service from the London Stock Exchange