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Press release from CNW Group


Friday, March 04, 2011

WESTSHORE ANNOUNCES NEW HANDLING AGREEMENT WITH TECK16:30 EST Friday, March 04, 2011VANCOUVER, March 4 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE.UN) (the "Corporation") is pleased to announce today that Westshore Terminals Limited Partnership has reached an agreement with Teck to handle certain annual coal tonnages from Teck's mines for a four year term from April 1, 2012 to March 31, 2016.  The commercial terms of the agreement are confidential.The existing contract that covers shipments of coal from the Elkview, Line Creek and Cardinal River mines expires on March 31, 2012 and the Port Services Agreement that covers shipments of coal from the Fording River, Greenhills and Coal Mountain mines expires on February 29, 2012. This most recent contract will result in Teck shipping coal volumes of not less than 16 million tonnes per coal contract year increasing to 17 million tonnes and with the possibility to do more, all at fixed rates through Westshore. The foregoing statements concerning tonnages, coal prices, loading rates, taxation and variability of distributions are forward-looking statements but reflect the current expectations of the Fund and Westshore with respect to future events and performance.  Wherever used, the words ''may,'' ''will,'' ''anticipate,'' ''intend,'' ''expect,'' ''plan,'' ''believe,'' and similar expressions identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at which, such performance or results will be achieved. Forward-looking statements are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events.For further information: Nick Desmarais Secretary (604) 488-5214