FOR IMMEDIATE RELEASE
Date: November 12, 2004
Release No. 111204
Contact: Raymond J. Orlando, Director of Investor Relations, 212-788-5875

NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY ANNOUNCES DETAILS OF ITS UPCOMING BOND SALE

The New York City Municipal Water Finance Authority ("NYW") announced today that it intends to sell approximately $425 million of fixed-rate tax-exempt new money bonds and $240 million of fixed-rate tax-exempt refunding bonds on Monday, November 22, 2004. The financing will use NYW's underwriting syndicate, with Goldman, Sachs & Co. serving as book-running senior manager for the transaction with First Albany Corporation, Merrill Lynch & Co. and UBS Financial Services Inc. serving as co-senior managers. The bond sale is expected to close on or about December 8, 2004. Moody's Investors Service rates the NYW at Aa2, Standard & Poor's rates the NYW at AA+, and Fitch Ratings rates NYW at AA.

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