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


    CALGARY, March 17 /CNW/ - True Energy Trust ("True" or the "Trust")
confirms that the cash distribution for the month of March will be $0.04 per
unit, to be paid on April 15, 2008 to all unitholders of record as at March
31, 2008. The ex-distribution date for this payment is March 27, 2008. This
distribution announcement is consistent with the guidance provided in the news
release dated December 18, 2007.
    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 0.89142 to 0.90177. This increase was effective on March 17,

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

    Record Date of Distribution                            February 29, 2008

    Opening Exchange Ratio                                           0.89142

    True Energy Trust distribution per unit paid
     March 17, 2008                                                    $0.04

    5-day weighted average trading price (the "Current
     Market Price") (including the last business day
     prior to distribution payment date)                            $3.44471

    Increase in Exchange Ratio                                       0.01035

    Effective Date of increase in Exchange Ratio              March 17, 2008

    Exchange Ratio as of the Effective Date                          0.90177

    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

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890