Fording announces annual and special meeting Trust Reorganization and Unit Split Proposed CALGARY, March 2 /PRNewswire-FirstCall/ -- Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG) today announced that its Annual and Special Meeting of Unitholders will be held on May 4, 2005 at 10:00 a.m. (MST) in the Alberta Room of the Fairmont Palliser Hotel in Calgary, Alberta. The close of business on March 28, 2005 has been fixed as the Record Date for the determination of those unitholders entitled to receive notice of and to vote at the meeting. At the Annual and Special Meeting, unitholders will be asked to approve a three-for-one split of the Trust's units. It is anticipated that the unit split will result in a corresponding reduction in the market price per unit making them more affordable for the average investor. Unitholders will also be asked to provide conditional approval of a two-step reorganization of the Trust and its subsidiaries. The first step would result in the creation of a flow-through structure which would effectively see distributions from Elk Valley Coal Partnership taxed at the unitholder level. The second step, if undertaken, would be a transaction whereby the Trust would acquire a direct interest in the Elk Valley Coal Partnership. In addition to unitholder approval, completion of each step of the reorganization is subject to receipt of certain regulatory and third-party approvals. A more detailed description of the reorganization and the required approvals will be contained in the Notice of Meeting and Management Information Circular that will be mailed to unitholders in early April in advance of the Annual and Special Meeting. About Fording Fording Canadian Coal Trust is an open-ended mutual fund trust. Through investments in metallurgical coal and industrial minerals mining and processing operations, the Trust makes quarterly cash distributions to unitholders. The Trust, through its wholly-owned subsidiary, Fording Inc., holds a 60% interest in the Elk Valley Coal Partnership and is the world's largest producer of the industrial mineral wollastonite. Elk Valley Coal Partnership, comprised of Canada's senior metallurgical coal mining properties, is the world's second largest exporter of metallurgical coal, currently supplying approximately 25 million tonnes of high-quality coal products annually to the international steel industry. The Trust's shares are traded on the Toronto Stock Exchange under the ticker symbol FDG.UN and on the New York Stock Exchange under the symbol FDG. Forward-looking Information Certain information included in this document is of a forward-looking nature. Forward-looking information is subject to known and unknown risks, as well as uncertainties and other factors. Accordingly, actual results may differ materially from those expressed or implied in forward-looking information. Some of the risks, uncertainties and other factors affecting Fording Canadian Coal Trust are discussed in our public filings with the securities regulatory authorities in Canada and the United States. Copies of Fording Canadian Coal Trust's Canadian filings, including our most recent management information circular, annual information form, annual report, quarterly reports, material change reports and news releases, are available online at http://www.sedar.com/, and copies of our U.S. filings, including our most recent annual report on Form 40-F as supplemented by filings on Form 6-K, are available at http://www.sec.gov/. Information in this document is presented as of March 2, 2005 and is subject to change after this date. However, Fording Canadian Coal Trust disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: Fording Canadian Coal Trust CONTACT: Susan J. Soprovich, Director, Investor Relations, Fording Canadian Coal Trust, (403) 260-9834, Email: ; Catherine Hart, Coordinator, Investor Relations, Fording Canadian Coal Trust, (403) 260-9817; Website: http://www.fording.ca/

Copyright