Daylight Energy Trust

Daylight Energy Trust

March 30, 2005 16:58 ET

Daylight Energy Trust Provides 2004 Tax Information for Canadian Unitholders


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: DAYLIGHT ENERGY TRUST

TSX SYMBOL: DAY.UN

MARCH 30, 2005 - 16:58 ET

Daylight Energy Trust Provides 2004 Tax Information
for Canadian Unitholders

CALGARY, ALBERTA--(CCNMatthews - March 30, 2005) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Daylight Energy Trust (TSX:DAY.UN) ("Daylight") is pleased to provide
2004 tax information for its Canadian unitholders.

2004 CANADIAN TAX INFORMATION

The information contained herein is intended to provide general guidance
to assist in 2004 income tax reporting for Canadian resident individual
holders of Daylight trust units. It is not intended to constitute legal
or tax advice to any holder or potential holder of Daylight trust units.
Readers should consult their own legal or tax advisors as to their
particular tax consequences of holding Daylight trust units.

Units Held within an RRSP, RRIF or DPSP

Unitholders who held Daylight units in a Registered Retirement Savings
Plan ("RRSP"), Registered Retirement Income Fund ("RRIF"), or Deferred
Profit Sharing Plan ("DPSP") should not report any amount on their 2004
T1 Income Tax Return.

Units Held outside an RRSP, RRIF or DPSP

Unitholders who held Daylight units outside of an RRSP, RRIF or DPSP
will not receive a "T3 Supplementary" slip. Daylight has determined that
distributions received by Canadian resident unitholders in respect of
the 2004 taxation year are 100% tax-deferred return of capital.
Unitholders may have received information that conflicts with the
information in this press release.

2004 Summary of Canadian Tax Information

The following table summarizes, on a per unit basis, the taxability of
cash distributions paid and relates to 2004, which include distributions
with record dates of November 30, 2004 and December 31, 2004.



2004 CASH DISTRIBUTION INFORMATION FOR CANADIAN UNITHOLDERS ($/UNIT)

------------------------------------------------------------------------
Return of
Cash Taxable Capital
Record Date Payment Date Distribution Amount Amount
------------------------------------------------------------------------
November 30, 2004 December 15, 2004 $0.12 $0.00 $0.12
------------------------------------------------------------------------
December 31, 2004 January 17, 2005 $0.12 $0.00 $0.12
------------------------------------------------------------------------
TOTAL $0.24 $0.00 $0.24
------------------------------------------------------------------------
------------------------------------------------------------------------


Adjusted Cost Base

Holders of Daylight trust units must reduce the Adjusted Cost Base
("ACB") of their units by an amount equal to the cumulative cash
received from 2004 distributions. Provided trust units are held as
capital property, the ACB is used in determining the capital gain or
loss to report on disposition of the units.

Daylight Energy Trust is a Calgary-based open-ended unincorporated
investment trust with a natural gas weighted quality property base,
large prospect inventory and large undeveloped land base. Daylight's
properties are focused in the high potential areas of the Peace River
Arch and West Central Alberta and expanding into our new East 5 area.

ADVISORY: Certain information regarding Daylight Energy Trust including
management's assessment of future plans and operations, may constitute
forward-looking statements under applicable securities law and
necessarily involve risks associated with oil and gas exploration,
production, marketing and transportation such as loss of market,
volatility of prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other producers and
ability to access sufficient capital from internal and external sources;
as a consequence, actual results may differ materially from those
anticipated in the forward-looking statements.

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