Talisman Energy Inc.

Talisman Energy Inc.

March 23, 2005 13:06 ET

Talisman Renews Normal Course Issuer Bid


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TALISMAN ENERGY INC.

TSX, NYSE SYMBOL: TLM

MARCH 23, 2005 - 13:06 ET

Talisman Renews Normal Course Issuer Bid

CALGARY, ALBERTA--(CCNMatthews - March 23, 2005) - Talisman Energy Inc.
(TSX:TLM) (NYSE:TLM) has made the necessary filings with Toronto Stock
Exchange in order to continue to purchase its common shares from time to
time in accordance with the normal course issuer bid procedures under
Canadian securities laws.

During the 12-month period of Talisman's previous normal course issuer
bid up to March 22, 2005, the Company purchased an aggregate of
15,489,400 common shares at an average price of $33.86 per share.

Pursuant to a notice filed with the Toronto Stock Exchange, Talisman may
purchase for cancellation up to 18,437,285 of its common shares,
representing 5% of the 368,745,690 common shares outstanding as at March
22, 2005, during the 12 month period commencing March 28, 2005 and
ending March 27, 2006. The price that Talisman will pay for any shares
acquired under the normal course issuer bid will be the market price at
the time of purchase or such other price as may be permitted by the
Toronto Stock Exchange. The purchases will be made through the
facilities of the Toronto Stock Exchange or such other means as may be
permitted by applicable stock exchange rules.

Talisman's primary objective is to increase shareholder value by
delivering growth in reserves and production volumes per share. While
successful exploration and development are the best value generators in
the upstream oil and gas business, Talisman also advances this objective
through the purchase of its own shares.

Talisman Energy Inc. is a large, independent oil and gas producer, with
operations in Canada and, through its subsidiaries, the North Sea,
Indonesia, Malaysia, Vietnam, Algeria, the United States and Trinidad
and Tobago. Talisman's subsidiaries also conduct business in Colombia,
Qatar and Peru. Talisman has adopted the International Code of Ethics
for Canadian Business and is committed to maintaining high standards of
excellence in corporate citizenship and social responsibility wherever
its business is conducted. Talisman's shares are listed on the Toronto
Stock Exchange in Canada and New York Stock Exchange in the United
States under the symbol TLM.

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