Suncor Energy Inc.

Suncor Energy Inc.

June 25, 2007 00:00 ET

Suncor Energy prices U.S. debt issue

Calgary, Alberta (June 25, 2007) -- Suncor Energy Inc. reports that it has arranged for the issuance of US$750 million in principal amount of senior unsecured Notes maturing on June 15, 2038. The Notes will have a coupon of 6.5% and be priced at US$99.16 to yield 6.564%. The net proceeds from the sale of the Notes will be used for general corporate purposes, including repayment of short term borrowings, supporting Suncor's ongoing capital spending program and for working capital requirements. Closing is scheduled for June 28, 2007.

The sale of the Notes will be completed under Suncor's shelf prospectus dated February 20, 2007 and its prospectus supplement dated June 25, 2007. The offering was led by JPMorgan, BNP Paribas and Deutsche Bank Securities as joint book-running managers.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes.

This news release contains forward-looking statements identified by the words "may," "maturing," "schedule" and similar expressions that addresses goals, expectations or projections about the future. This statement is based on Suncor's current goals, expectations, estimates, projections and assumptions, as well as its current budgets and plans for capital expenditures. Such statements are not guarantees of future performance. Actual results could differ materially, as a result of factors, risks and uncertainties, known and unknown, to which Suncor's business is subject. Further discussion of the risks, uncertainties and other factors that could affect these plans, and any actual results, is included in Suncor's annual report to shareholders and other documents filed with regulatory authorities.

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Suncor's oil sands business, located near Fort McMurray, Alberta, extracts and upgrades oil sands and markets refinery feedstock and diesel fuel, while operations throughout western Canada produce natural gas. Suncor operates a refining and marketing business in Ontario with retail distribution under the Sunoco brand. U.S.A. downstream assets include pipeline and refining operations in Colorado and Wyoming and retail sales in the Denver area under the Phillips 66® brand. Suncor's common shares (symbol: SU) are listed on the Toronto and New York stock exchanges.

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For further information, contact:
Brad Bellows
(403) 269-8717