Talisman to Redeem 8.9% Preferred Securities

Talisman Energy Inc. has given notice of its intention to exercise its right to redeem all of its outstanding US$150 million 8.9% Junior Subordinated Debentures ("Preferred Securities"), which are listed on the New York Stock Exchange under the symbol TLM PrB.

The redemption date will be June 15, 2004. The redemption price of US$25 per Preferred Security plus accrued and unpaid interest to the redemption date will be paid on June 15, 2004. The interest payment of US$0.55625 per Preferred Security due on May 15, 2004 will be paid in the normal manner on that date to security holders of record at the close of business on May 1, 2004.

The redemption price will be credited to the accounts of beneficial holders of Preferred Securities through their individual brokers, who may be contacted for additional information about payments. Questions about the redemption process may be directed to the trustee, JP Morgan Chase Bank (formerly known as The Chase Manhattan Bank), at 1-800-275-2048 or 214-468-6125.