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Standard & Poor's – Index Change

Date 10/01/2001

Standard & Poor's Canadian Index Operations announces that effective after the close of business on Wednesday, January 10, 2001, the following changes will take place in the TSE 300 Composite, TSE 300 Capped, S&P/TSE Canadian SmallCap and TSE 200 Indices.

Ultra Petroleum Corporation (TSE: UP) will replace Cabre Exploration Ltd. (TSE: CBE) in the TSE 300 Composite, TSE 300 Capped, S&P/TSE Canadian SmallCap and TSE 200 Indices. It has been announced that over 90% of the common shares of Cabre Exploration Ltd. have been tendered to the offer by EnerMark Income Fund.

Ultra Petroleum Corporation is a natural gas exploration and production company focused on the Green River Basin of Wyoming. Ultra Petroleum Corporation will be added to the TSE 300 Composite and TSE 300 Capped Indices in the Oil & Gas (03.02) Group and S&P/TSE Canadian SmallCap Index in the Energy sector.

Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company. Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE: MHP), provides independent financial information, analytical services, and credit ratings to the world’s financial markets. Among the company’s many products are the S&P Global 1200, the world’s first global, equity, real time index; the S&P 500, the premier U.S. portfolio index; and credit ratings on more than 220,000 securities and funds worldwide. With more than 5,000 employees located in 21 countries, Standard & Poor’s is an integral part of the global financial infrastructure.