(in thousands of dollars)

Year ended March 31, 2008

(a) Notes payable to the Province of Nova Scotia are comprised of the following:			2008	2007
	Year of Maturity	Weighted average interest rate	Principal outstanding	Principal outstanding
Note payable 2002-01	-	-	$38,448	$ 45,457
Note payable 2002-02	2022	5.31% - 6.75%	36,576	37,836
Note payable 2003-01	2009	4.85%	2,245	2,372
Note payable 2003-02	2008	4.53%	-	104
Note payable 2003-03	2012	5.02%	182	220
Note payable 2003-04	2014	5.35%	742	831
Note payable 2003-05	2011	5.44%	751	938
Note payable 2004-01	2017	4.64%	2,566	2,899
Note payable 2004-02	2015	3.41% - 4.55%	4,859	5,301
Note payable 2005-01	2011	4.23%	1,463	1,613
Note payable 2005-02	2014	3.82%	749	907
Note payable 2006-01	2027	5.09%	1,561	1,484
Note payable 2006-02	2027	4.98%	1,984	1,888
Note payable 2006-03	2027	4.86%	3,218	3,066
Note payable 2006-04	2027	4.94%	2,222	2,115
Note payable 2007-01	2027	5.11%	989	940
Note payable 2007-02	2027	4.89%	1,002	955
Note payable 2007-03	2027	4.97%	427	-
Note payable 2007-04	2027	5.01%	82	-
Note payable 2007-05	2027	5.38%	1,425	-
Note payable 2007-06	2027	5.58%	148	-
			101,639	108,926
Less principal due within one year			8,109	9,413
			$ 93,530	$ 99,513

The principal for note 2002‑01 is repayable to the Province when the principal is collected from the loans that are funded by this note. In addition, 80% of the interest received or capitalized on the underlying loans is repayable to the Province.

The remaining notes are repayable in quarterly instalments of principal and interest based on the maturity dates and rates set out above.

(b) Principal payments due in each of the next five years are as follows:

2009	$ 8,109
2010	7,728
2011	8,024
2012	6,924
2013	6,765