Fording provides synergies update CALGARY, AB, June 21 /PRNewswire-FirstCall/ -- Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG) today announced that it has received the final opinion report of the independent expert in respect of the synergies of Elk Valley Coal Partnership for the coal year ending March 31, 2004. The report indicates that sufficient synergies have been realized such that the Trust's interest in the partnership would be reduced to 60% effective April 1, 2004. The Trust and Teck Cominco are reviewing the report. If either partner does not accept the conclusions contained in the report, any outstanding dispute is to be settled by binding arbitration. Accordingly, the actual change in the Trust's ownership of the partnership will not be finalized until this review process is completed. 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 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, capable of supplying approximately 25 million tonnes of high-quality coal products annually to the international steel industry. DATASOURCE: Fording Canadian Coal Trust CONTACT: Catherine Hart, Coordinator, Investor Relations, Fording Canadian Coal Trust, Ph. (403) 260-9817, Email:

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