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Triax Announces March, 2005 Distributions

TORONTO, March 21, 2005 – Triax announces the following distributions for the month and quarter ending March 31, 2005. In all cases, the distribution will be paid on or before April 15, 2005 to unitholders of record on March 31, 2005.

TrustTSX Trading SymbolConfirmed or EstimatedDistribution Amount (per unit)Distribution Amount Annualized
MONTHLY
Triax Diversified High-Yield Trust *TRH.UNConfirmed$0.07$0.84
QUARTERLY
New Millennium Technology TrustNMT.UNConfirmed$0.20$0.80
Triax CaRTS III TrustTXZ.UNConfirmed$0.0625$0.25

* The Trust offers unitholders the opportunity to increase their holding of units through the convenience provided by its Distribution Reinvestment Plan. All distributions that are reinvested will be used to purchase additional units of the Trust. In order to take advantage of the Plan on the upcoming distribution, unitholders should contact their investment advisor as soon as possible.

For further information, please call Triax at 416-362-2929 or 1-800-407-0287, or visit www.triaxcapital.com.