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EFC Publishes Annual Information Statement; New Disclosure Format Much Easier for Investors to Use.

Business Editors

ALBANY, N.Y.--(BUSINESS WIRE)--March 4, 2002

New York State Environmental Facilities Corporation (EFC) President Thomas J. Kelly today announced that EFC has revised the way it discloses information to the investment market by publishing its first Annual Information Statement (AIS). This new corporate form of disclosure makes it easier to read and understand the information.

"The AIS is another step in our continuing effort to convey information to the investment market in a more efficient and helpful manner," said EFC President Thomas J. Kelly. "Potential investors will find this new form of disclosure offers a much more user-friendly way to get the information they need to make investment decisions." The AIS corporate disclosure document contains information on the New York Clean Water and Drinking Water State Revolving Funds (SRFs), the Industrial Finance Program (IFP), and the State entities that administer these financing programs. The Clean Water SRF is administered by EFC and the State Department of Environmental Conservation, while the Drinking Water SRF is administered by EFC and the State Department of Health. EFC is the sole administrator of the IFP.

A "plain English" writing style is used to present AIS information in order to make it easy to read and understand. The Securities Exchange Commission encourages using a plain English format for corporate disclosure documents and this format is increasingly being used in the public financing market, as well.

In addition to the AIS, EFC has prepared Official Statements for specific State Revolving Fund and Industrial Finance Program bond offerings. The documents are meant to complement each other and should both be referenced when making an investment decision. For the convenience of potential investors, the AIS and the Official Statements are published on the EFC web site at www.nysefc.org. The AIS also will be filed with each Nationally Recognized Municipal Securities Information Repository designated at the time of the filing. The repositories will make these documents available to the public; some may charge a fee for access. Copies of information filed with the repositories may be obtained by writing to EFC's Director of Corporate Operations at 625 Broadway, Albany, NY 12207 or calling (518) 402-6924.
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Publication:Business Wire
Date:Mar 4, 2002
Words:362
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