Fording Canadian Coal Trust
TSX : FDG.UN
NYSE : FDG

Fording Canadian Coal Trust

May 04, 2005 23:59 ET

Fording Unitholders Endorse Reorganization of the Trust

Fording Reports Outcome of 2005 Annual and Special Meeting of
Unitholders

CALGARY--(CCNMatthews - May 4) - Fording Canadian Coal Trust (TSX:
FDG.UN, NYSE: FDG)announced that in excess of 99% of votes cast by
unitholders at today's Annual and Special Meeting were voted in favour
of all resolutions put before the meeting, including the proposed
reorganization of the Trust.

Unitholders approved the resolutions as described in the management
information circular dated April 2, 2005, including:

- The passing of a special resolution regarding the reorganization;

- The passing of a special resolution to provide for the subdivision

of units on a three-for-one basis at the discretion of the
Trustees

in the event that the reorganization is, for any reason, not

completed; and

- The passing of a special resolution authorizing the amendment of

articles of Fording Inc. to remove the "private company

restrictions".

Completion of the reorganization transaction is dependant on receipt of
certain judicial, regulatory and third-party approvals, including an
advance tax ruling, and the determination of the Trustees' discretion
to proceed with the reorganization. The subdivision of units will
proceed either in association with the reorganization or at such time
that the Trustees exercise their discretion to proceed. In the latter
case, the subdivision record date will be seven trading days after the
date of a news release announcing the Trustees' decision.

A copy of the voting results is available at www.sedar.com.

About Fording

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 60% 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, and expects to supply approximately 27 million
tonnes of high-quality coal products to the international steel
industry in 2005. The Trust's shares are traded on the Toronto Stock
Exchange under the ticker symbol FDG.UN and on the New York Stock
Exchange under the symbol FDG.

Forward-looking Information

Certain information included in this document is of a forward-looking
nature. Forward-looking information is subject to known and unknown
risks, as well as uncertainties and other factors. Accordingly, actual
results may differ materially from those expressed or implied in
forward-looking information. Some of the risks, uncertainties and other
factors affecting Fording Canadian Coal Trust are discussed in our
public filings with the securities regulatory authorities in Canada and
the United States. Copies of Fording Canadian Coal Trust's Canadian
filings, including our most recent management information circular,
annual information form, annual report, quarterly reports, material
change reports and news releases, are available online at
www.sedar.com, and copies of our U.S. filings, including our most
recent annual report on Form 40-F as supplemented by filings on Form 6-
K, are available at www.sec.gov. Information in this document is
presented as of May 4, 2005 and is subject to change after this date.
However, Fording Canadian Coal Trust disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.

Contact Information

  • Susan J. Soprovich
    Director, Investor Relations
    (403) 260-9834
    or
    Catherine Hart
    Coordinator, Investor Relations
    (403) 260-9817
    Email: investors@fording.ca
    Website: www.fording.ca