Citadel SMaRT Fund

Citadel SMaRT Fund

March 15, 2005 19:41 ET

Citadel Smart Fund 2004: Income Tax Information


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CITADEL SMART FUND

TSX SYMBOL: CRT.UN

MARCH 15, 2005 - 19:41 ET

Citadel Smart Fund 2004: Income Tax Information

CALGARY, ALBERTA--(CCNMatthews - March 15, 2005) - The following
information is intended to assist holders of Units of Citadel SMART Fund
(the "Trust") (TSX:CRT.UN) 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 16-Feb-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
29-Feb-04 15-Mar-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
31-Mar-04 15-Apr-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
30-Apr-04 14-May-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
31-May-04 15-Jun-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
30-Jun-04 15-Jul-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
31-Jul-04 16-Aug-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
31-Aug-04 15-Sep-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
30-Sep-04 15-Oct-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
31-Oct-04 15-Nov-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
30-Nov-04 15-Dec-04 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
31-Dec-04 14-Jan-05 $ 0.0254 $ 0.0002 $ 0.1675 $ 0.0149 $ 0.2080
31-Dec-04 31-Jan-05 $ 0.3236 $ 0.0025 $ 2.1335 $ 0.1904 $ 2.6500
----------------------------------------------------
$ 0.6284 $ 0.0049 $ 4.1435 $ 0.3692 $ 5.1460
----------------------------------------------------
----------------------------------------------------


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
would be received and no amount would be required to be reported on the
Unitholder's personal tax return.

-30-

Contact Information