Paramount Resources Ltd. Class ATSX: POU

Standard & Poor's Announces Changes In S&P/TSX Canadian Indices

· Issued by Paramount Resources Ltd. Class A via CNW
TORONTO, Oct. 20 /CNW/ - Standard & Poor's Canadian Index Operations
announces the following index changes effective after the close of business on
Friday, October 21, 2005:

-   On October 19, 2005, the results of the tender offer by TUI AG to
    acquire shares of CP Ships Ltd. (TSX:TEU) were announced. A total of
    89.1% of the shares of CP Ships Ltd. were tendered to the offer. As a
    result, CP Ships Ltd. will be removed from the S&P/TSX Composite and
    Capped Composite, the S&P/TSX 60 and 60 Capped, the S&P/TSX Capped
    Industrials and the Provisional S&P/TSX Composite Indices. Goldcorp
    Inc. (TSX:G) will replace CP Ships Ltd. in the S&P/TSX 60 and 60
    Capped Indices. Paramount Resources Ltd. (TSX:POU) will replace
    Goldcorp Inc. in the S&P/TSX MidCap and Provisional S&P/TSX MidCap
    indices.

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way reflect an opinion on the investment merits of the company.
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