Forest & Marine Financial Limited Partnership

Forest & Marine Investments Ltd.

Forest & Marine Investments Ltd.
Forest & Marine Investment Trust

March 08, 2005 15:58 ET

Forest & Marine Investments Ltd.: Partnership-December 31, 2004 Quarterly Financial Statements


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FOREST & MARINE FINANCIAL LIMITED PARTNERSHIP

AND FOREST & MARINE INVESTMENTS LTD.

TSX VENTURE SYMBOL: FME

AND FOREST & MARINE INVESTMENT TRUST

MARCH 8, 2005 - 15:58 ET

Forest & Marine Investments Ltd.: Partnership-December
31, 2004 Quarterly Financial Statements

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2005) - Forest &
Marine Investments Ltd. (TSX VENTURE:FME)

The Partnership for itself and on behalf of the Trust and the Company
(TSX VENTURE:FME) wishes to report an increase of $4 million in its loan
loss provisions for the period ended December 31, 2004.

Tangible net worth remains at $61.3 million compared with total
liabilities of $48.7 million.

The increased loan loss provisions are necessary at this time due to
potential problems that could arise in the future based on information
available to management as at the date of filing the Partnership's
December 31, 2004 financial statements.

It is anticipated that the increase in the Partnership's loan loss
provisions will create a loss for the year ended June 30, 2005. This
projected loss will have the flow through effect of reducing the Trust's
capital which will be made up out of future earnings.

Forest & Marine is headquartered in Nanaimo and the Company and the
Partnership are Reporting Issuers under the British Columbia Securities
Act. The Company is also a Reporting Company under the British Columbia
Company Act, whose shares are traded on the TSX Venture Exchange.

ON BEHALF OF:

FOREST & MARINE FINANCIAL LIMITED PARTNERSHIP (the "Partnership")

by its General Partner, Forest & Marine Financial Corporation

FOREST & MARINE INVESTMENTS LTD. (the "Company")

FOREST & MARINE INVESTMENT TRUST (the "Trust")

by its Manager, Forest & Marine Financial Corporation

Nigel Burridge, Director

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Forest & Marine Investments Ltd.
    Nigel Burridge
    Director
    (250) 753-0141
    (250) 753-0173 (FAX)
    or
    Forest & Marine Investments Ltd.
    John L. Hitchcock
    Chairman Emeritus
    (250) 753-0141
    (250) 753-0173 (FAX)
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the contents of this news
    release.