True Energy Trust reminds unitholders to vote



    TSX: TUI.UN

    CALGARY, March 27 /CNW/ - The Board of Directors of True Energy Trust
("True") is reminding securityholders to cast their votes and submit their
proxies for the upcoming annual and special meeting (the "Meeting") scheduled
to take place March 30, 2007 at 10:00 AM (Calgary time) for the purposes of,
among other matters, voting upon the previously announced reorganization of
the Trust into a growth-focused exploration and production company (the
"Reorganization"). To be effective, proxies must be received no later than
4:30 p.m. (Calgary time) on Wednesday, March 28, 2007 by Computershare Trust
Company of Canada as set forth in the information circular of True related to
the Meeting. Persons who hold their trust units through a broker or other
intermediary may vote electronically by visiting www.proxyvote.com or vote by
telephone, in Canada call toll-free 1-800-474-7493 or in the US call
1-800-454-8683 and entering your 12 digit control number and in accordance
with the instructions received from your broker or other intermediary (or ADP
Investor Communications on their behalf). If you have any questions regarding
the Reorganization or how to fill out your proxy, please feel free to contact
Kingsdale Shareholder Services Inc at 1-866-639-8089 or 416-867-2272.

    
    Key reasons why unitholders should vote FOR the Reorganization:

    -   The Reorganization allows True to reinvest the vast majority of its
        cash flows to further expand its capital program, for the benefit of
        all of True's securityholders.
    -   True has a significant drilling inventory which it believes makes it
        unique among oil and gas trusts and will help secure growth for True
        going forward.
    -   True's expanded capital program of approximately $50 million in the
        first quarter of 2007 produced very positive results.
    -   True has accumulated tax pools of more than $500 million to shelter
        taxable income.
    -   True plans to operate with the same growth-focus that contributed to
        the success that True had prior to reorganizing into a trust model.
    -   The Board of Directors of True continue to believe the Reorganization
        will provide a superior value to other alternatives which have been
        proposed in recent weeks.
    

    The Board of True has unanimously recommended that unitholders VOTE FOR
the Reorganization.
    Institutional Shareholders Services ("ISS"), Canada's leading independent
proxy advisory firm and formerly known as Fairvest, recommends that its
clients VOTE FOR the Reorganization of True into an intermediate oil and gas
exploration company and VOTE FOR the option plans proposed by True in
connection with the Reorganization.

    Forward Looking Statements: Certain information set forth in this news
release, including management's assessment of True's future plans and
operations and timing of matters relating to the approval of the
Reorganization and implementation thereof may contain forward-looking
statement, and necessarily involves risks and uncertainties, certain of which
are beyond True's control including, without limitation, risks as to whether
securityholders and all required regulatory and other approvals related to
completion of the True Reorganization will be obtained and the timing thereof,
risks associated with oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets and other economic
and industry conditions, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers, inability to retain drilling services,
delays resulting from or inability to obtain required regulatory approvals,
the lack of availability of qualified personnel or management, risks related
to closing of dispositions, stock market volatility and ability to access
sufficient capital from internal and external sources, economic or industry
condition changes. Actual results, performance or achievements could differ
materially from those expressed in, or implied by, these forward-looking
statements and, accordingly, no assurance can be given that any events
anticipated by the forward-looking statements will transpire or occur, or if
any of them do so, what benefits that True or its securityholders will derive
therefrom. Additional information on these and other factors that could affect
True are included in reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com), at
True's website (www.trueenergytrust.com). Furthermore, the forward-looking
statements contained in this news release are made as of the date of this news
release, and True does not undertake any obligation to update publicly or to
revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be expressly
required by applicable securities law.

    %SEDAR: 00021401E




For further information:

For further information: Paul Baay, President and CEO, (403) 750-1272;
Edward Brown, Vice President, Finance and CFO, (403) 750-2655; Scott Koyich,
Investor Relations, (403) 750-2428; Troy Winsor, Investor Relations, (800)
663-8072


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