January 9, 2001


FOR RELEASE: IMMEDIATELY


The State Comptroller General, James A. Lander, has announced the release of the statewide audited financial statements for the fiscal year ended June 30, 2000.

Three bond rating firms reviewed these statements and reaffirmed their highest rating for the State's general obligation bonds. The State is issuing $250 million in State School Facilities Bonds, $75 million in State Capital Improvement Bonds, and $2 million in State Highway Bonds this month. Moody's Investors Service rated the bonds as "Aaa," and Standard & Poor's and Fitch Investors Service, Inc., rated the bonds as "AAA". These superior ratings allow the State to issue the general obligation bonds at lower interest rates.

For additional information, contact the South Carolina Comptroller General's Office at (803) 734-2128.