Teck Cominco Limited

Teck Cominco Limited

September 24, 2007 07:00 ET

Teck Cominco Increases Holding in Fording Canadian Coal Trust to 19.95%

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2007) - Teck Cominco Limited (TSX - TCK.A; TCK.B; NYSE - TCK) announced today the indirect acquisition of 16.65 million units of Fording Canadian Coal Trust ("Fording"), representing approximately 11.25% of the issued and outstanding units of Fording, for cash consideration of Cdn$599.4 million or Cdn$36.00 per unit. The units will be acquired by Teck Cominco's wholly-owned subsidiary Teck Cominco Metals Ltd. under a private agreement with a subsidiary of Ontario Teachers Pension Plan Board ("Teachers"). The transaction is expected to close on October 1, 2007.

If prior to July 31, 2008, Teck Cominco or any of its affiliates makes an offer or announces an intention to acquire more than 50% of the outstanding Fording units, which transaction is subsequently completed, or sells Fording units, in either case at a price in excess of Cdn$36.00 per unit, Teck Cominco will pay Teachers such excess for the units that Teck Cominco has today acquired from Teachers.

Following the acquisition, Teck Cominco will hold directly and indirectly 29,507,142 Fording units, or approximately 19.95% of the outstanding units. Teck Cominco has acquired the units for investment purposes and has no plans to acquire any additional units of Fording.

Teck Cominco is a diversified mining company, headquartered in Vancouver, Canada. Shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and the New York Stock Exchange under the symbol TCK. The company is a world leader in the production of zinc and metallurgical coal and is also a significant producer of copper, gold and specialty metals. Further information can be found at www.teckcominco.com.

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