Press Releases

Triax Announces December, 2004 Distributions

TORONTO, December 20, 2004 – Triax announces the following distributions for the month and quarter ending December 31, 2004. In all cases, the distribution will be paid on or before January 14, 2005 to unitholders of record on December 31, 2004.

TrustTSX
Trading
Symbol
Confirmed
or
Estimated
Distribution
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.