AGS Energy 2005-1 Limited Partnership Amends Final Prospectus To Address Quebec Tax Proposals.

TORONTO -- In order to address the impact of certain Quebec tax proposals on investors resident in Quebec, AGS Resource Management and Lawrence Asset Management announced today that AGS Energy 2005-1 Limited Partnership (the "Partnership") has filed an amendment to its final prospectus dated February 28, 2005.

A Limited Partner who is an individual resident, or subject to tax, in Quebec may, in computing his or her income for Quebec tax purposes, deduct an amount equal to 100% of CEE incurred in Quebec and allocated to such Limited Partner by the Partnership in a given year. Pursuant to a new schedule to the 2004 Quebec income tax return form recently released such individual may also, in computing his or her income for Quebec tax purposes, deduct (i) an amount equal to 50% of CEE incurred outside Quebec and allocated to such Limited Partner in a given year and (ii) the remaining 50% of such CEE only to the extent of such Limited Partner's net investment income earned in that year. Any portion of the CEE not deducted in a given taxation year may be carried over against net investment income earned in any of the three previous taxation years and any subsequent taxation year. The initial closing is expected to occur on March 17, 2005.

The syndicate of agents for the offering is being led by BMO Nesbitt Burns Inc. and includes National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., TD Securities Inc., FirstEnergy Capital Corp., Tristone Capital Inc., Dundee Securities Corporation, First Associates Investments Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Queensbury Securities Inc., Richardson Partners Financial Ltd. and Wellington West Capital Inc.