Government appoints external firm to review financial condition of province

Minister of Finance and President of Treasury Board Loyola Sullivan today announced the successful proponent in the RFP process to conduct a review of the province�s financial condition. PricewaterhouseCoopers will undertake the work, reporting initial findings to Minister Sullivan by the end of November and finalizing the report by December 15, 2003.

"I look forward to the results of the review," said Minister Sullivan. "By providing an accurate, businesslike picture of our financial status, it will allow government to prepare future budgets and fiscal plans and to manage our finances in a truly transparent and accountable manner."

The results of this review will be made public.

Premier Danny Williams announced the external review on November 6, demonstrating an intent to take swift and early action to get the province�s fiscal house in order, as recommended by the Royal Commission on Renewing and Strengthening Our Place in Canada.

Media contact: Deirdre Robinson Greene, Communications (709) 729-0084

2003 11 17                                     3:00 p.m.