HYDRO-QUÉBEC - ISSUE OF DEBENTURES 5.00% DUE FEBRUARY 15, 2050 ON THE
CANADIAN MARKET

MONTREAL, Oct. 14 /CNW Telbec/ - Hydro-Québec announces that it has negotiated on the Canadian domestic market the issue of CA$500,000,000 of debentures, Series JN, maturing on February 15, 2050.

The debentures, with a coupon of 5.00%, payable semi-annually, will be offered on the market at a price of 113.488 plus interest deemed to have accrued from August 15, 2010. The yield is 4.287%.

The lead manager for this issue is National Bank Financial Inc. with RBC Dominion Securities Inc. and Scotia Capital Inc. acting as co-lead managers, and, BMO Nesbitt Burns Inc., Casgrain & Company Limited, CIBC World Markets Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc., Merrill Lynch Canada Inc., and The Toronto-Dominion Bank acting as other managers.

This is the sixth additional tranche of Debentures, Series JN, issued initially on January 15, 2009 and the total aggregate principal amount of debentures outstanding under this series now amounts to CA$3,500,000,000.

For further information:

Jean-Hugues Lafleur
Vice President - Financing, Treasury and Pension Fund
Hydro-Québec
Tel.: [phone]

Ariane Connor
Media Relations
Tel: [phone]
E-mail: [email protected]
Press Room: http://www.hydroquebec.com/media