Forest Oil is Accelerating Expiration of Subscription Warrants

Forest Oil (NYSE: FST) is giving notice that it is accelerating the expiration date of its subscription warrants (CUSIP No. 34609114-3 and CUSIP No. 34520613-0). Under the terms of the subscription warrants originally set to expire on March 20, 2010, Forest can accelerate the expiration date if Forest's common stock closed at $37.50 per share or higher for 30 consecutive trading days. Having satisfied that requirement, Forest has elected to accelerate the expiration date. On April 7, 2005, Forest had 1,752,355 subscription warrants outstanding which are held by 12 holders of record. Each subscription warrant entitles the holder to purchase 0.8 shares of Forest's common stock for $10.00, or an equivalent share price of $12.50.

The new expiration date is May 9, 2005. Subsequent to this date, Forest will have no warrants outstanding.