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About Sickkids
About SickKids

December 17, 2009

SickKids closes $200 million offering to fund construction of Research Tower

TORONTO – The Hospital for Sick Children (SickKids) announced today that it has completed its previously announced offering of $200 million Series A Senior Unsecured Debentures. The 5.217% 40-year debentures will mature on December 16, 2049.

The proceeds of the offering will be used to finance SickKids’ proposed Research Tower and for general purposes.

“We are enormously excited about building the Research Tower, a new home for the almost 2,000 scientists and staff in our Research Institute,” says Mary Jo Haddad, SickKids President and CEO. “The successful completion of the financing, together with Federal government investment under the Canada Foundation for Innovation’s Research Hospital Fund, demonstrates a commitment to scientific discovery and to sharing that knowledge in ways that will change the practice of paediatric care. Our investors are central to our vision for the Research Tower and its impact on the community and the landscape of Toronto’s Discovery District.”

The offering was made by way of a private placement, pursuant to certain exemptions from the prospectus requirements of applicable securities laws of the provinces of Canada.

The offering was led by RBC Dominion Securities Inc. and TD Securities Inc.

SickKids is distinguished by its success in bridging basic research and clinical applicability. SickKids Research Institute, established in 1954, is one of North America's largest and most productive hospital-based research institutes. Its members represent approximately one-quarter of all SickKids staff. SickKids Research Institute is known around the world; its multiple international collaborations focus on areas of significant health science strength in Canada, including stem cell research, regenerative medicine and genomics.

SickKids, affiliated with the University of Toronto, is Canada’s most research-intensive hospital and the largest centre dedicated to improving children’s health in the country. As innovators, SickKids leads and partners to improve child health provincially, nationally and internationally through the integration of care, research and education, providing the best in complex and specialized family-centred care, groundbreaking scientific and clinical advances, sharing our expertise globally, enhancing an academic environment and championing an accessible, comprehensive and sustainable child health system. For more information, please visit www.sickkids.ca.

Forward-Looking Information
This news release includes certain forward-looking information that is based upon current expectations, which involves risks and uncertainties associated with SickKids and its operating environment. Information contained herein that does not relate strictly to historical or current facts may be deemed to be forward-looking, including any identified by the expressions "anticipate", "should", "may", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to SickKids or its management. Forward-looking information is not historical fact, but reflects SickKids' current expectations regarding future results or events. This forward-looking information is subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations.

For more information, please contact:

Matet Nebres
The Hospital for Sick Children
Phone: 416-813-6380
email: matet.nebres@sickkids.ca

Suzanne Gold
The Hospital for Sick Children
Phone: 416-813-7654 ext. 2059
email: suzanne.gold@sickkids.ca