EDMONTON, Dec. 2 /CNW/ - Melcor Developments Ltd., an Alberta based real estate development company, announces that its Board of Directors has decided to postpone the date of dividend payment, from December 30th, 2005 to January 3rd 2006. As announced on October 31, 2005, the amount of dividend comprises of a semi-annual dividend of $.75 per common share plus a special dividend of $1.00 per common share (for a total of $1.75 per common share) to shareholders of record on December 15, 2005. Please note that the record date has not changed. This decision has been taken after the announcement by the Federal Government of its intention regarding a reduction of the effective tax rate on dividend payments paid after January 1, 2006. This announcement of the Federal Government is subject to Parliamentary approval. Furthermore, the positions of the Provincial Governments have not been disclosed in respect with the announced reduction. The Board of Directors' decision has been taken to allow our eligible shareholders to benefit by this announced tax reduction.