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SUNCOR SECONDARY OFFERING OF 10 MILLION SHARES

 SUNCOR SECONDARY OFFERING OF 10 MILLION SHARES
 PHILADELPHIA, March 4 /PRNewswire/ -- Sun Company, Inc. (NYSE: SUN)


and Ontario Energy Corporation (OEC) today announced that they have sold 10 million common shares of Suncor Inc. of Toronto at a share price of Cdn. $19 to a syndicate of underwriting firms led by Wood Gundy Inc. and RBC Dominion Securities Corporation.
 The common shares will be payable on an installment basis -- 50 percent at closing and 50 percent approximately one year later. The final prospectus will be filed today in Ontario and thereafter in all other Canadian provinces. The transaction is expected to close on March 18, 1992.
 "We are pleased that Suncor's presence in the equity markets has been established and that we have accomplished our goal of increasing public ownership of Suncor," said Sun Company President and CEO Robert H. Campbell. "Originally we had planned to sell a larger number of shares but the current market conditions for oil and gas equities prevented us from doing so," Campbell added.
 "Suncor is a solid company with major operations in Canada. We are pleased that Canadian investors will have a chance to participate directly in a large integrated Canadian oil company," said Floyd Laughren, Treasurer of Ontario.
 Currently SUN owns slightly less than 75 percent of the common shares outstanding and OEC, which is wholly owned by the Province of Ontario, owns 25 percent. Ownership of common shares after this sale is completed will be: SUN -- 68 percent, OEC -- 14 percent, and Public Ownership -- 18 percent.
 Suncor, a Canadian integrated oil and gas company, is one of the largest oil producers in Canada. The company explores for and produces conventional crude oil and natural gas in Western Canada, where it also operates the world's first commercial oil sands project. Suncor markets natural gas in Canada and in the United States. The company owns and operates a 70,000 barrel-a-day refinery in Sarnia, Ontario, and manufactures, distributes and markets transportation fuels, petrochemicals and heating oil under the Sunoco and Sunchem brand names.
 Sun Company is an energy company with interests in U.S. and Canadian petroleum refining and marketing, U.S. coal and coke production, synthetic crude oil production in Canada, and crude oil and natural gas exploration and production outside the United States. Branded marketing is carried out under the Sunoco brand in the United States and Canada and also under the Atlantic brand in the United States. Sun Company trades on the New York Stock Exchange and other stock exchanges with the symbol "SUN".
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 /CONTACT: Tim Hughes of Sun Company, 215-977-6544, or George Dominy of Ontario Energy Corporation, 416-327-1383/
 (SUN) CO: Sun Company, Inc.; Ontario Energy Corporation; Suncor Inc. ST: Pennsylvania IN: OIL SU:


MK -- PH020 -- 5063 03/04/92 15:45 EST
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Publication:PR Newswire
Date:Mar 4, 1992
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