Paramount's Special Meeting of Securityholders Today to Approve the Trust Spinout Transaction will be Webcast

CALGARY, ALBERTA - March 28, 2005 /CNW/ - Paramount Resources
Ltd. (TSX:POU) announces that the special meeting of its securityholders
to be held at 10:00 a.m. (Calgary time) this morning to approve the
arrangement under the Business Corporations Act (Alberta) pursuant to
which Paramount's previously announced trust spinout transaction (the
"Trust Spinout") is to be effected will be webcast.

To listen to the special meeting and view the presentation to be
provided at the special meeting, please go to the following internet
address at The webcast will also be available
after the special meeting for a period of seven days at the same
internet address.

For further information: Paramount Resources Ltd., J.H.T. (Jim) Riddell, President and Chief Operating Officer, (403) 290-3600 / Paramount Resources Ltd., B.K. (Bernie) Lee, Chief Financial Officer, (403) 290-3600, (403) 262-7994 (FAX),, Paramount Resources Ltd., C.H. (Clay) Riddell, Chairman and Chief Executive Officer, (403) 290-3600, (403) 262-7994 (FAX)