page 119 Bombardier Inc. Annual Report 2003-04 NOTE 22. FINANCIAL INSTRUMENTS (CONT ’ D) The following table summarizes, by major currency, the Corporation’s forward foreign exchange contracts as at January 31: $^{(1)}$Notional amounts for the buy currency are expressed in the currency of origin, except for other categories which are expressed in Canadian dollars. $^{(2)}$The rate represents the weighted average committed exchange rate. $^{(1)}$Notional amounts for the buy currency are expressed in the currency of origin, except for other categories which are expressed in Canadian dollars. $^{(2)}$The rate represents the weighted average committed exchange rate. Interest-rate swap agreements are contracts in which two counter-parties agree to exchange cash flows, over a period of time, based on a rate applied to a specified notional principal amount. Typically, one counter-party agrees to pay a fixed interest rate in exchange for a variable interest rate, determined on the same notional principal. Bombardier entered into interest-rate swap agreements to convert a long-term debt and certain operating lease commitments from variable to fixed rates. The interest-rate swap agreements were as follows as at January 31, 2004 and 2003: b) Interest-rate swap agreements $^{(1)}$Canadian deposit offering rate. CURRENCY RECEIVE VARIABLE RATE PAY FIXED RATE NOTIONAL COMPONENT MATURITY LIBOR 5.6% 80 £ 33 2012 LIBOR 6.6% 127 US $ 96 2014 LIBOR 6.1% 11 US $ 8 2008 CDOR (1) + 1.35% 7.3% 7 – 2011 CDOR (1) + 1.48% 13.5% 7 – 2011 2003 NOTIONAL CDN DOLLAR SELL MATURITY BUY CURRENCY AMOUNT (1) EQUIVALENT CURRENCY RATE (2) (FISCAL YEAR) CDN 2,626 2,626 US 1.5561 2004-2006 Euro 355 584 GBP 1.5493 2004-2007 Euro 939 1,541 US 0.9907 2004-2007 Euro 331 544 Other – 2004-2007 GBP 762 1,917 US 0.6648 2004-2007 US 691 1,056 CDN 0.6565 2004-2006 US 480 734 Euro 0.9913 2004-2008 US 165 252 GBP 1.4544 2004-2005 CHF 430 481 Euro 1.4419 2004-2010 SEK 2,764 492 Euro 9.2261 2004-2007 Other 349 349 Euro – 2004-2009 Other 226 226 GBP – 2004-2006 Other 131 131 US – 2005 Other 307 307 Other – 2005 2004 NOTIONAL CDN DOLLAR SELL MATURITY BUY CURRENCY AMOUNT (1) EQUIVALENT CURRENCY RATE (2) (FISCAL YEAR) CDN 3,033 3,033 US 1.3538 2005-2008 Euro 282 466 GBP 1.4938 2005-2007 Euro 288 476 US 0.8477 2005-2007 Euro 379 627 Other – 2005-2010 GBP 454 1,097 US 0.6106 2005-2006 US 327 434 CDN 0.7273 2005-2008 US 262 348 Euro 1.1296 2005-2007 CHF 532 560 Euro 1.5184 2005-2010 SEK 2,800 502 Euro 9.2252 2005-2010 Other 494 494 Euro – 2005-2009 Other 711 711 GBP – 2005-2007 Other 190 190 Other – 2005-2007