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Access Roads Edmonton Ltd., a wholly-owned subsidiary of ABN AMRO Bank N.V., Canada Branch, entered into an agreement to design, finance, build and operate the Anthony Henday Drive Southeast Leg Ring Road in Edmonton, Alberta.  The estimated design and construction costs for the project are approximately $325 million.  Access Roads Edmonton Ltd. issued $149.5 million aggregate face amount of fully amortizing annuity bonds to finance this project.

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2005