Citadel HYTES Fund

Citadel HYTES Fund

March 15, 2005 19:40 ET

Citadel Hytes Fund: 2004 Income Tax Information


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CITADEL HYTES FUND

TSX SYMBOL: CHF.UN

MARCH 15, 2005 - 19:40 ET

Citadel Hytes Fund: 2004 Income Tax Information

CALGARY, ALBERTA--(CCNMatthews - March 15, 2005) - The following
information is intended to assist holders of Units of Citadel HYTES Fund
(TSX:CHF.UN) (the "Trust") in the preparation of their 2004 Income Tax
Return. This summary table below is directed to a Unitholder who, for
the purposes of the Income Tax Act (Canada) is a resident of Canada and
holds the Units as capital property.



------------------------------------------------------------------------
Record Capital Return of Total
Date Pay Date Income Dividends Gain Capital Distribution
------------------------------------------------------------------------
31-Jan-04 6-Feb-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
29-Feb-04 5-Mar-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
31-Mar-04 7-Apr-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
30-Apr-04 7-May-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
31-May-04 7-Jun-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
30-Jun-04 8-Jul-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
31-Jul-04 9-Aug-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
31-Aug-04 8-Sep-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
30-Sep-04 7-Oct-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
31-Oct-04 5-Nov-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
30-Nov-04 7-Dec-04 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
31-Dec-04 10-Jan-05 $ 0.0876 $ 0.0098 $ 0.1463 $ 0.0163 $ 0.2600
31-Dec-04 31-Jan-05 $ 0.2526 $ 0.0283 $ 0.4221 $ 0.0470 $ 0.7500
----------------------------------------------------
$ 1.3038 $ 0.1459 $ 2.1777 $ 0.2426 $ 3.8700
----------------------------------------------------
----------------------------------------------------


Each Unitholder will receive a T3 supplementary slip for 2004 that will
indicate the amount of "Other Income" - Box 26 ,"Dividends" - Box 23 and
"Capital Gains" - Box 21 that are to be included in their tax return.
The dividends will be subject to the standard gross-up and federal
dividend tax credit rules. The T3 supplementary slips are prepared by
Computershare Trust Company of Canada and/or investment dealers.
Unitholders are advised to contact their investment dealer directly if
they do not receive their T3 supplementary slip.

The return of capital to the Unitholder is a non-taxable amount and will
reduce the Adjusted Cost Base of the Unitholder's Units.

If the Units were held within a RRSP, DPSP, or RRIF, then no T3 slip
will be received and no amount would be required to be reported on the
Unitholder's personal tax return.

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