Harvest Energy Trust

Harvest Energy Trust

January 05, 2005 07:00 ET

Harvest Energy Trust Announces Increase to Exchangeable Share Ratio


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HARVEST ENERGY TRUST

TSX SYMBOL: HTE.UN

JANUARY 5, 2005 - 07:00 ET

Harvest Energy Trust Announces Increase to
Exchangeable Share Ratio

CALGARY, ALBERTA--(CCNMatthews - Jan. 5, 2005) - Harvest Energy Trust
(TSX:HTE.UN) ("Harvest") today announces an increase to the Exchange
Ratio of the Exchangeable Shares of Harvest Energy Trust from 1.06466 to
1.07345. This increase will be effective on January 17th, 2005.

As part of the Plan of Arrangement with Storm Energy which closed on
June 30, 2004, Harvest issued Exchangeable Shares which are exchangeable
into trust units at a ratio that adjusts each month. The Exchangeable
Shares are not publicly traded. However, holders of Harvest Exchangeable
Shares can exchange all or a portion of their holdings at any time by
giving notice to their investment advisor or Valiant Trust Company at
its principal transfer office at 310, 606 - 4th Street SW, Calgary, AB,
T2P 1T1 (telephone: 403-233-2801).

Harvest Energy Trust is a Calgary-based energy trust actively managed to
deliver stable monthly cash distributions to its Unitholders through its
strategy of acquiring, enhancing and producing crude oil, natural gas
and natural gas liquids. Harvest trust units are traded on the Toronto
Stock Exchange (TSX) under the symbol "HTE.UN". Please visit Harvest's
website at www.harvestenergy.ca for additional corporate information and
recent corporate presentations.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Harvest Energy Trust
    Jacob Roorda
    President
    (403) 265-1178 or Toll Free: (866) 666-1178
    or
    Harvest Energy Trust
    David Rain
    Vice President & CFO
    (403) 265-1178 or Toll Free: (866) 666-1178
    or
    Harvest Energy Trust
    Cindy Gray
    Investor Relations & Communications Advisor
    (403) 265-1178 or Toll Free: (866) 666-1178
    (403) 265-3490 (FAX)
    Email: gray@harvestenergy.ca
    or
    Harvest Energy Trust
    1900, 330 - 5th Avenue S.W.
    Calgary, AB Canada T2P 0L4
    Email: information@harvestenergy.ca
    Website: www.harvestenergy.ca