Fording Files Preliminary Short Form Prospectus CALGARY, March 31 /PRNewswire-FirstCall/ -- Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG) today announced that it has filed with the securities regulatory authorities in eachof the provinces and territories of Canada a copy of its preliminary short form prospectus and that it has signed an agreement with a syndicate of underwriters led by RBC Capital Markets in connection with the issuance of 2.0 million trust units at CDN$52.50 per trust unit to raise gross proceeds of CDN$105.0 million on a bought-deal basis. The issue will be offered in all provinces and territories of Canada. Closing is expected to occur on or about April 16, 2004 subject to regulatory approval. Thesecurities to be offered have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. 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 65% ownership of Elk Valley Coal and is the world's largest producer of the industrial mineral wollastonite. Elk Valley Coal, comprised of Canada's senior metallurgical coal mining properties, is the world's second largest exporter of metallurgical coal, capable of supplying approximately 25 million tonnes of high-quality coal products annually to the international steel industry. DATASOURCE: Fording Canadian Coal Trust CONTACT: Mark Gow, CA, Controller, Fording Canadian Coal Trust, 403-260-9834,

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