AGS Energy 2005-1 Limited Partnership

March 10, 2005 12:08 ET

AGS Energy 2005-1 Limited Partnership Amends Final Prospectus To Address Quebec Tax Proposals


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AGS ENERGY 2005-1 LIMITED PARTNERSHIP

MARCH 10, 2005 - 12:08 ET

AGS Energy 2005-1 Limited Partnership Amends Final
Prospectus To Address Quebec Tax Proposals

TORONTO, ONTARIO--(CCNMatthews - March 10, 2005) - In order to address
the impact of certain Quebec tax proposals on investors resident in
Quebec, AGS Resource Management and Lawrence Asset Management announced
today that AGS Energy 2005-1 Limited Partnership (the "Partnership") has
filed an amendment to its final prospectus dated February 28, 2005.

A Limited Partner who is an individual resident, or subject to tax, in
Quebec may, in computing his or her income for Quebec tax purposes,
deduct an amount equal to 100% of CEE incurred in Quebec and allocated
to such Limited Partner by the Partnership in a given year. Pursuant to
a new schedule to the 2004 Quebec income tax return form recently
released such individual may also, in computing his or her income for
Quebec tax purposes, deduct (i) an amount equal to 50% of CEE incurred
outside Quebec and allocated to such Limited Partner in a given year and
(ii) the remaining 50% of such CEE only to the extent of such Limited
Partner's net investment income earned in that year. Any portion of the
CEE not deducted in a given taxation year may be carried over against
net investment income earned in any of the three previous taxation years
and any subsequent taxation year. The initial closing is expected to
occur on March 17, 2005.

The syndicate of agents for the offering is being led by BMO Nesbitt
Burns Inc. and includes National Bank Financial Inc., RBC Dominion
Securities Inc., Scotia Capital Inc., TD Securities Inc., FirstEnergy
Capital Corp., Tristone Capital Inc., Dundee Securities Corporation,
First Associates Investments Inc., HSBC Securities (Canada) Inc.,
Raymond James Ltd., Queensbury Securities Inc., Richardson Partners
Financial Ltd. and Wellington West Capital Inc.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    AGS Resource 2005-1 GP Inc.
    Clarence Chow
    President
    (403) 571-0692