TORONTO (Standard & Poor's CreditWire) June 7, 1999--Standard & Poor's today assigned its triple-'B'-minus rating to Talisman Energy Inc.'s proposed US$150 million 49-year preferred securities issue due 2048. At the same time, Standard & Poor's affirmed its triple-'B'-plus corporate credit and senior unsecured debt ratings on the company. The outlook is negative. Proceeds from the new issue will be used primarily to repay existing debt. The ratings on Talisman Energy reflect the company's average competitive position, a growing and diversifying reserve base, and conservative long-term financial policies, which are offset by a high growth strategy. Talisman Energy has made a series of acquisitions that have increased its year-end 1998 net proved reserve base to 353 million barrels of liquids and
