True Energy Trust Confirms October Distribution & Announces Increase to Exchangeable Share Ratio



    TSX: TUI.UN

    CALGARY, Sept. 15 /CNW/ - True Energy Trust ("True" or the "Trust")
confirms that the cash distribution for the month of September will be $0.04
per unit, to be paid on October 15, 2008 to all unitholders of record as at
September 30, 2008. The ex-distribution date for this payment is September 26,
2008. This distribution announcement is consistent with the guidance provided
in the news release dated July 15, 2008.
    True also announces an increase in the ratio for exchanging Exchangeable
Shares of True Energy Inc. into trust units of the Trust (the "Exchange
Ratio") from 0.94755 to 0.95853. This increase is effective on September 15,
2008.

    
    The following are the details used in the calculation of the Exchange
Ratio:

    Record Date of Distribution                              August 29, 2008
    Opening Exchange Ratio                                           0.94755
    True Energy Trust distribution per unit paid
     September 15, 2008                                                $0.04
    5-day weighted average trading price (the "Current
     Market Price")                                                 $3.45075
    (including the last business day prior to
     distribution payment date)
    Increase in Exchange Ratio                                       0.01098
    Effective Date of increase in Exchange Ratio          September 15, 2008
    Exchange Ratio as of the Effective Date                          0.95853
    

    The increase in the exchange ratio is calculated by multiplying the True
Energy Trust distribution per trust unit by the previous month's exchange
ratio and dividing by the Current Market Price of TUI.UN. A holder of True
Energy Inc. Exchangeable Shares can exchange all or a portion of their
holdings at any time for the True Energy Trust Units by completing the
Retraction Request Form located on the back of the exchangeable certificate.
Questions regarding Exchangeable Shares should be directed to Computershare
Trust Company of Canada at 1-800-564-6253.

    True Energy Trust is an exploration and production oil and gas trust
based in Calgary, Alberta, Canada.

    %SEDAR: 00021401E




For further information:

For further information: Wayne M. Chorney, President, CEO & COO, (403)
750-2420; Edward Brown, Vice President, Finance & CFO, (403) 750-2655; Sacha
Ravelli, Manager, Investor Relations, (403) 750-7085; Scott Koyich, Investor
Relations Consultant, (403) 750-2428; Troy Winsor, Investor Relations
Consultant, (800) 663-8072


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