Melcor Developments Ltd., EDMONTON AB (TSE: MRD) Postpones Dividend Payment from December 30, 2005 to January 3, 2006

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.