Peyto Energy Trust announces additional 2004 United States tax information

SYMBOL: PEY.UN - TSX

CALGARY, April 13 /CNW/ - Peyto Energy Trust ("Peyto") announces
additional guidance regarding the 2004 tax treatment of unitholders in the
United States.
For the 2004 taxation year, Peyto has made the election to be treated as
a corporation for United States ("U.S.") income tax purposes. In addition,
Peyto's trust units should be treated as equity under U.S. tax laws. As a
corporation, we believe we will also be considered a Qualified Foreign
Corporation ("QFC") for U.S. income tax purposes. The taxable portion of the
trust distributions for U.S. income tax purposes is determined based upon
Peyto's current and accumulated earnings & profits ("E&P") as determined in
accordance with U.S. income tax law.
Subject to advice from your legal and tax advisors, we recommend that you
reference this press release as support for your treatment of the 2004
distributions from Peyto.
With respect to cash distributions paid in 2004 to United States
unitholders, 85.049% percent would be reported as qualified dividends and
14.951% percent would be reported as non-taxable return of capital.
We encourage you to actively visit Peyto's website located at
www.peyto.com.

Certain information set forth in this document, including management's
assessment of Peyto's future plans and operations, contains forward-looking
statements. By their nature, forward-looking statements are subject to
numerous risks and uncertainties, some of which are beyond these parties'
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 industry
participants, the lack of availability of qualified personnel or management,
stock market volatility and ability to access sufficient capital from internal
and external sources. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. Peyto's 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 the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits that Peyto will
derive therefrom. Peyto disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise.

The Toronto Stock Exchange has neither approved nor disapproved the
information contained herein.
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