Progress Energy Trust Files Annual Information Form

    CALGARY, Feb. 29 /CNW/ - (TSX - PGX.UN) Progress Energy Trust has filed
its Annual Information Form which contains the annual National Instrument
51-101 Form 1, Form 2 and Form 3 information. The information can be accessed
electronically from the SEDAR system at or the Progress Energy
Trust website at

    Progress is a Calgary based, natural gas focused, trust targeting
sustainable production and reserves per trust unit through utilization of its
technical capability and capital investment efficiencies. Primary operating
areas include the deep basin of northwest Alberta and the foothills and plains
regions of northeast British Columbia. Units of Progress trade on the Toronto
Stock Exchange ("TSX") under the symbol PGX.UN. Exchangeable shares of
Progress trade on the TSX under the symbol PGE and its convertible debentures
trade on the TSX under the symbol PGX.DB.

    Forward Looking Statements - Certain information regarding Progress set
forth in this document, including management's assessment of Progress' future
plans and operations, contains forward-looking statements that involve
substantial known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, certain of which
are beyond Progress' 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 producers, the lack of availability of qualified
personnel or management, stock market volatility and ability to access
sufficient capital from internal and external sources. Progress' 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 events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits that Progress will derive therefrom.

For further information:

For further information: Mr. Art MacNichol, Vice President, Finance &
CFO, Phone: (403) 539-1780; Mr. Greg Kist, Vice President, Investor Relations
& Marketing, Phone: (403) 539-1809; Progress Energy Ltd., 1200, 205-5th Avenue
S.W., Calgary, Alberta, T2P 2V7, Toll Free: 1-866-216-2510, Fax: (403)
216-2514, Email, Web:

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Progress Energy Canada Ltd.

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