FORM OF FISCAL AGENCY AGREEMENTFiscal Agency Agreement • January 29th, 2004 • Hydro Quebec • Electric, gas & sanitary services
WHEREAS pursuant to an underwriting agreement (the "Underwriting Agreement"), dated as of [ ], between Hydro-Québec, Québec (the "Guarantor") and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse First Boston LLC, CIBC World Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Putnam Lovell NBF Securities Inc., RBC Dominion Securities Corporation and Scotia Capital (USA) Inc., Hydro-Québec has agreed to create, issue and sell $[ ] in lawful money of the United States of America ("U.S. dollars" or "US$" or "$") aggregate principal amount of [ ]% [ ]Series [ ] due [ ] (herein collectively called the "Notes"), guaranteed unconditionally by the Guarantor as to payments of principal, [premium] and interest and Additional Amounts, if any (the "Guarantee");
HYDRO-QUÉBEC Debt Securities Guaranteed unconditionally as to principal, premium and interest by QUÉBEC FORM OF UNDERWRITING AGREEMENT New York, New YorkQuébec Terms Agreement • January 29th, 2004 • Hydro Quebec • Electric, gas & sanitary services
Merrill Lynch, Pierce, Fenner & Smith Incorporated Credit Suisse First Boston LLC CIBC World Markets Corp. Citigroup Global Markets Inc. J.P. Morgan Securities Inc. Putnam Lovell NBF Securities Inc. RBC Dominion Securities Corporation Scotia Capital (USA) Inc.
