TKE Energy Trust

TKE Energy Trust

March 15, 2005 19:20 ET

TKE Energy Trust Announces Exchangeable Share Ratio


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TKE ENERGY TRUST

TSX SYMBOL: TKE.UN

MARCH 15, 2005 - 19:20 ET

TKE Energy Trust Announces Exchangeable Share Ratio

CALGARY, ALBERTA--(CCNMatthews - March 15, 2005) - TKE Energy Trust
(TSX:TKE.UN) ("TKE" or the "Trust) is pleased to announce an increase in
the ratio for exchanging Exchangeable Shares of TKE Energy Inc. into
Units of the Trust (the "Exchange Ratio") from 1.02425 to 1.03559. The
increase is effective on March 15, 2005 (the "Effective Date").

The following are the details used in the calculation of the Exchange
Ratio:



Record Date of distribution February 28, 2005
Opening Exchange Ratio 1.02425
TKE Energy Trust distribution per Unit paid March
15, 2005 $0.12

5-day weighted average trading price (the "Current
Market Price") (including the last business day
prior to distribution payment date) $10.83483

Increase in Exchange Ratio 0.01134
Effective Date of increase in Exchange Ratio March 15, 2005
Exchange Ratio as of the Effective Date 1.03559


The increase in the exchange ratio is calculated by multiplying the TKE
Energy Trust distribution per Unit by the previous month's exchange
ratio and dividing by the Current Market Price of TKE.UN. A holder of
TKE Energy Inc. Exchangeable Shares can exchange all or a portion of
their holdings at any time for TKE Trust Units by completing a
Retraction Request form which can be obtained by contacting
Computershare Trust Company of Canada at (403) 267-6894.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    TKE Energy Trust
    Norman W. Holton
    Chairman & Chief Executive Officer
    (403) 264-8875
    or
    TKE Energy Trust
    Gordon K. Case
    Vice President, Finance & Chief Financial Officer
    (403) 264-8875
    Website: www.tketrust.com