Peyto Energy Trust announces 2008 Canadian tax information



    SYMBOL: PEY.UN - TSX

    CALGARY, Feb. 18 /CNW/ - Peyto Energy Trust ("Peyto") is pleased to
announce the 2008 tax information for unitholders in Canada.
    For purposes of the Income Tax Act (Canada), Peyto Energy Trust is a
mutual fund trust. Each year, an income tax return is filed by Peyto with
taxable income allocated to and taxable in the hands of the unitholders. Cash
distributions paid by Peyto are comprised of a return on capital portion
(taxable income) and a return of capital (tax deferred) portion. The return on
capital (taxable) portion is calculated and reported on Peyto's T3 return and
allocated to each unitholder who received distributions in that taxation year
on T3 Supplementary forms, which are mailed to unitholders before March 31 of
each year. Registered unitholders will receive a T3 Supplementary form
directly from the transfer agent, Valiant Trust Company. Beneficial
unitholders will receive a T3 Supplementary form from their broker or other
intermediary. The T3 slip will report only the taxable income component. The
return of capital (tax deferred) portion reduces the unitholders' cost base of
the units. For cash distributions received or receivable by a Canadian
resident, outside of a registered pension or retirement plan in the 2008
taxation year, the split is 75 percent return on capital (taxable) and 25
percent return of capital (tax deferred).
    The following table sets out the tax treatment of the Canadian monthly
distributions paid and payable in 2008:

    
                                                          Tax
                                                       Deferred
                                           Taxable      Amount
                                            Amount   (Return of      Total
    Record Date         Payment Date       (Income)    Capital)  Distribution
    -------------------------------------------------------------------------
    January 1, 2008     January 15, 2008    $0.0000     $0.0035      $0.0035
    January 31, 2008    February 15, 2008   $0.1050     $0.0350      $0.1400
    February 28, 2008   March 15, 2008      $0.1050     $0.0350      $0.1400
    March 31, 2008      April 13, 2008      $0.1050     $0.0350      $0.1400
    April 30, 2008      May 15, 2008        $0.1050     $0.0350      $0.1400
    May 31, 2008        June 15, 2008       $0.1125     $0.0375      $0.1500
    June 30, 2008       July 13, 2008       $0.1125     $0.0375      $0.1500
    July 31, 2008       August 15, 2008     $0.1125     $0.0375      $0.1500
    August 31, 2008     September 14, 2008  $0.1125     $0.0375      $0.1500
    September 30, 2008  October 15, 2008    $0.1125     $0.0375      $0.1500
    October 31, 2008    November 15, 2008   $0.1125     $0.0375      $0.1500
    November 30, 2008   December 14, 2008   $0.1125     $0.0375      $0.1500
    December 31, 2008   January 15, 2009    $0.1125     $0.0375      $0.1500
    -------------------------------------------------------------------------
                                            $1.3200     $0.4435      $1.7635
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                                                75%         25%         100%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

    Tax information for United States unitholders will be announced on or
about February 27, 2009.

    We encourage you to actively visit Peyto's website located at
www.peyto.com.

    Certain information set forth in this document, including management's
assessment of Peyto's and the Trust's future plans and operations, contains
forward-looking statements. By their nature, forward-looking statements are
subject to numerous risks and uncertainties, some of which are beyond these
parties' control, including the impact of general economic conditions,
industry conditions, volatility of commodity prices, currency fluctuations,
imprecision of reserve estimates, environmental risks, competition from other
industry participants, the lack of availability of qualified personnel or
management, stock market volatility and ability to access sufficient capital
from internal and external sources. Readers are cautioned that the assumptions
used in the preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements. Peyto's and the
Trust's actual results, performance or achievement could differ materially
from those expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of them do
so, what benefits that Peyto and the Trust will derive therefrom. Peyto
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

    
    The Toronto Stock Exchange has neither approved nor disapproved the
    information contained herein.
    

    %SEDAR: 00019597E




For further information:

For further information: Darren Gee, President and Chief Executive
Officer of Peyto at (403) 237-8911

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PEYTO ENERGY TRUST

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