Central Gold-Trust Closes Public Offering of Approximately US$18,840,250



    TSX SYMBOLS: GTU.UN and GTU.U
    AMEX SYMBOL: GTU

    TORONTO, April 5 /CNW/ - Central Gold-Trust is pleased to announce that
it has completed the sale of 715,000 Units of the Trust at U.S.$26.35, for
gross proceeds of U.S.$18,840,250. The Units were sold pursuant to a public
offering through the Trust's agents CIBC World Markets Inc., as lead agent,
and Cormark Securities Inc. (formerly Sprott Securities Inc.).
    The underwritten price of U.S.$26.35 per Unit for the total of
715,000 Units was non-dilutive and accretive for the existing Unitholders of
Central Gold-Trust. The bulk of the net proceeds of the offering have been
used to purchase physical gold bullion, in keeping with the investment
policies established by the Board of Trustees of Central Gold-Trust. The
capital raised by this offering is expected to reduce the operating expense
ratio in favour of the Unitholders of Central Gold-Trust.
    Units of Central Gold-Trust are eligible investments for RRSPs, DPSPs,
RRIFs, and RESPs and most other North American retirement accounts.

    Central Gold-Trust, launched in April, 2003, is a passive, single
purpose, self-governing closed-end trust, approximately 98% invested in
long-term holdings of gold bullion, substantially in physical international
bars, and does not actively speculate with regard to short-term changes in
gold prices. Gold-Trust's gold bullion is held unencumbered in allocated,
segregated and insured safekeeping in Canada, in the treasury vaults of the
Canadian Imperial Bank of Commerce. The gold bullion is physically audited by
Ernst & Young in the presence of Gold-Trust Officers and Trustees as well as
bank officials.
    You may obtain a copy of the prospectus filed in the United States from
CIBC World Markets Corp., Prospectus Department, 425 Lexington Avenue, 5th
Floor, New York, New York 10017, by fax at 212-667-6303, or by e-mail at
useprospectus@us.cibc.com. You may obtain a copy of the prospectus in Canada
from CIBC World Markets Inc., 161 Bay Street, Toronto, Ontario, M5J 2S8, fax
416-594-7242.
    Units are quoted on the AMEX, symbol GTU and the TSX, symbols GTU.UN
(Cdn. $) and GTU.U (U.S. $).




For further information:

For further information: see www.gold-trust.com, write to
info@gold-trust.com, fax (905) 648-4196 or contact J.C. Stefan Spicer,
President and CEO at (905) 304-GOLD

Organization Profile

CENTRAL GOLD-TRUST

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