Precision Drilling Corporation announces the mailing of the 2004 Annual Report CALGARY, March 29 /PRNewswire-FirstCall/ -- Precision Drilling Corporation ("Precision") announced today that it has mailed their 2004 Annual Report, along with the Notice of Annual and Special Meeting of the Shareholders, Proxy and the Management Information Circular, for the shareholders meeting to be held on May 10, 2005, in the Devonian Room of the Calgary Petroleum Club, 319 - 5th Avenue S.W., Calgary, Alberta, Canada at 3:00 p.m., Calgary time. The 2004 Annual Report includes Management's Discussion and Analysis and the financial statements for the year ended December 31, 2004. Results for 2004 were previously released on February 10, 2005. Precision has retained, for a fee, the services of Georgeson Shareholder Communications Canada Inc. to assist it in the solicitation of proxies from shareholders of Precision for the Annual and Special Meeting of the Shareholders. For any proxy related inquiries please call 1-877-288-2178. Precision Drilling Corporation (TSX: PD and PD.U; NYSE: PDS) is a global contract drilling and oilfield services company providing a broad range of drilling, production and evaluation services with focus on fulfilling customer needs through fit-for-purpose technologies for the maturing oilfields of the 21st century. With corporate offices in Calgary, Alberta, Canada and corporate subsidiary offices in Houston, Texas, and research facilities in the U.S. and Europe, Precision employs more than 12,000 people conducting operations in more than 30 countries. Precision is committed to providing efficient and safe services to create value for our customers, our shareholders and our employees. DATASOURCE: Precision Drilling Corporation CONTACT: Dale E. Tremblay, Senior Vice President Finance and Chief Financial Officer, 4200, 150 - 6th Avenue S.W., Calgary, Alberta, T2P 3Y7, Telephone (403) 716-4500, Fax (403) 264-0251, website: http://www.precisiondrilling.com/; Archived images on this organization are searchable through CNW Photo Archive website at http://photos.newswire.ca/. Images are free to accredited members of the media. To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.

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