Talisman maintains high standards in the areas of ethical business conduct, environmental practices and community relations.

At Talisman, the business case for corporate responsibility is clear. Acting responsibly helps the Company avoid risk, improves employee recruitment and retention, creates business opportunities and increases access to capital. We call it sustainable value creation. We think our corporate responsibility Credentials speak for themselves. We invite you to read our 2004 Corporate Responsibility Report.

2004 ACCOMPLISHMENTS

Social Performance

• Confirmed participation in the UN Global Compact.
• Worked with approximately 45,000 Canadian stakeholders, regarding more than 1,345 projects.
• Revised our Security Policy based on the Voluntary Principles on Human Rights and Security.
• Continued refinement of our new project risk assessment process.
• Signed a Memorandum of Understanding with the United Nations Development Program in Trinidad.

Health, Safety and Environmental Performance

• Recorded no fatalities, life-threatening occupational injuries or major environmental incidents at Talisman-operated facilities.
• Constructed a cogeneration facility in Edson, Alberta and began development of an offshore wind farm demonstrator project in the North Sea.
• Continued our ongoing program of routine HSE audits and reviews at Talisman operations worldwide.
• Completed formal Environmental Impact Assessments in support of proposed projects in Trinidad, the UK, Malaysia/Vietnam and the US.
• Received Gold Award from Scotland’s Health at Work program, recognizing Talisman (UK)’s commitment to promoting a healthy lifestyle amongst its workers.

You can view Talisman's Corporate Responsibilty Report on its website, www.talisman-energy.com or write, phone or email Talisman's executive office in Calgary.