Vermilion Energy Trust Announces $0.19 Cash Distribution for August 15, 2008 Payment Date and Exchangeable Share Ratio Increase

    CALGARY, July 15 /CNW/ - Vermilion Energy Trust (VET.UN - TSX) is pleased
to announce the cash distribution of $0.19 per trust unit payable on
August 15, 2008 to all unitholders of record on July 31, 2008. The
ex-distribution date for this payment is July 29, 2008. Vermilion has paid
cumulative distributions per unit totalling $11.19 since inception as a Trust
in January 2003.

    Exchangeable Share Ratio Information
    Upon conversion to a Trust in January 2003, some holders of shares in the
predecessor company, Vermilion Resources Ltd., opted to hold exchangeable
shares in place of Vermilion Energy Trust units. The following information
applies only to those exchangeable shareholders and does not affect Vermilion
Energy Trust unitholders.
    The increase to the Exchange Ratio of the Exchangeable Shares of
Vermilion Resources Ltd. will be from 1.60362 to 1.61117. Details used in the
calculation of the Exchange ratio can be found on our website at or by contacting
Vermilion's Investor Relations Department at (403) 269-4884.
    The increase will be effective on July 15, 2008. A "Notice of Retraction"
must be received by Computershare by July 22, 2008 to receive this exchange
ratio. All notices received after this date will receive the exchange ratio to
be determined on August 15, 2008. A holder of Vermilion Resources Ltd.
Exchangeable Shares can exchange all or a portion of their holdings at any
time for Vermilion Trust Units by completing a Retraction Request form. You
can obtain a copy by contacting Computershare Trust Company of Canada at (403)

    %SEDAR: 00018945E          %CIK: 0001293135

For further information:

For further information: Paul Beique, Director Investor Relations, 2800,
400 - 4th Avenue S.W., Calgary, Alberta, T2P 0J4, Phone: (403) 269-4884, Fax:
(403) 264-6306, IR Toll Free: 1-866-895-8101,

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