Pengrowth Energy Trust announces clarification of mutual fund trust status

Pengrowth Energy Trust announces clarification of mutual fund
trust status
Stock Symbol: (PGF.A / PGF.B) - TSX; (PGH) - NYSE 


CALGARY, Dec. 2  /PRNewswire-FirstCall/ -- Pengrowth Corporation ("Pengrowth"),
administrator of Pengrowth Energy Trust (the "Trust"), announced today that the
Trust has received a letter from the Department of Finance Canada that removes
any significant risk to the Trust's status as a mutual fund trust and
effectively extends until 2007 the deadline by which the Trust must meet the
non-resident ownership restrictions of the Income Tax Act (Canada). The finance
letter undertakes to recommend an amendment to paragraph 132(7)(a) of the Act
in a form typically relied upon by taxpayers, subject to acceptance of the
recommendation by the Minister of Finance and Parliament.

The Trust also received a letter from Canada Revenue Agency extending the time
periods for the transactions contemplated in the Trust's Advance Tax Ruling for
the A/B Trust Unit Reclassification. As a result, any changes which may be
required to the Trust Indenture can now be considered at the next regularly
constituted meeting of Unitholders.

PENGROWTH CORPORATION

James S. Kinnear, President 

DATASOURCE: Pengrowth Energy Trust



CONTACT: about Pengrowth, please visit our website

http://www.pengrowth.com/ or contact: Investor Relations, Calgary, E-mail:

, Telephone: [phone], Toll Free:

1-800-223-4122, Facsimile: [phone]; Investor Relations, Toronto,

E-mail: , Telephone: [phone], Toll Free:

1-888-744-1111, Facsimile: [phone]

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