Daylight Resources Trust
TSX : DAY.UN
TSX : DAY.DB
TSX : DAY.DB.B

Daylight Resources Trust

July 13, 2008 15:32 ET

Daylight Resources Trust Announces 30% Increase to Cash Distributions for Third Quarter 2008 and Provides Update on Hedging Activities

CALGARY, ALBERTA--(Marketwire - July 13, 2008) - Daylight Resources Trust (TSX:DAY.UN) ("Daylight") is pleased to announce a Cdn$0.13 per trust unit monthly cash distribution payable to unitholders for each of the months of July, August and September 2008. This represents a 30% increase to our monthly cash distribution as compared to the second quarter of 2008.



Cash Distributions

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Record Ex-Distribution Distribution Distribution
Date Date Payment Date Per Unit
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July 31, 2008 July 29, 2008 August 15, 2008 $0.13
August 29, 2008 August 27, 2008 September 15, 2008 $0.13
September 30, 2008 September 26, 2008 October 15, 2008 $0.13
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Hedging Activities

Since the release of our first quarter 2008 results on May 7, 2008, Daylight
has entered into the following additional commodity derivatives:

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Type of Contract Commodity Hedged Hedge Hedge
Volume Price (2) Period
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Financial Cdn$110.00 - Aug 1/08 to
(Costless Collar (1)) Crude oil 1,000 bbls/d $206.00/bbl Dec 31/09
Financial Cdn$110.00 - Aug 1/08 to
(Costless Collar (1)) Crude oil 1,000 bbls/d $205.55/bbl Dec 31/09
Financial Cdn$110.00 - Aug 1/08 to
(Costless Collar (1)) Crude oil 1,000 bbls/d $205.00/bbl Dec 31/09
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(1) Costless Collar price indicates floor (minimum) and ceiling (maximum)
with no premium payable.
(2) Hedge Price is with reference to the Canadian dollar WTI price per
barrel.


Daylight has a very solid and sustainable asset base with an excellent value-added capital expenditure program to maintain our production and reserves volumes. Daylight's successful 2008 capital program continues to deliver very positive operational results that, combined with recent commodity price increases, are generating significantly increased funds from operations and expanding financial flexibility. Daylight continues to anticipate that funds from operations, generated by our sustainable production volumes and based on forecast commodity prices that are lower than the current and forward strip, will fully fund our capital expenditure program and increased distribution level.

Daylight Resources Trust is a Calgary-based, open-ended, unincorporated investment trust with a high quality balanced natural gas and crude oil property base, extensive prospect inventory and a large land base that is managed by a team of highly skilled technical professionals. Daylight's properties include focused high potential assets in the Peace River Arch, Sturgeon Lake and West Central Alberta complemented by stable production and repeatable opportunities in Southern and Eastern Alberta. Daylight's prospect inventory is balanced across natural gas and crude oil with near, medium, long-term and high impact opportunities. Daylight's large undeveloped land base provides additional prospects to create value through our highly skilled technical teams as well as through selective farm outs to targeted industry partners. Daylight has approximately 86 million trust units currently outstanding that trade on the TSX under the symbol DAY.UN. Daylight Series A and Series B convertible debentures trade on the TSX under the symbols DAY.DB and DAY.DB.B respectively.

ADVISORY:

Forward Looking Statements: This press release contains forward-looking statements as to the internal projections, expectations, estimates or beliefs relating to future events or future performance of Daylight Resources Trust ("Daylight"), including Daylight's guidance for 2008 and the amount and type of 2008 budgeted capital expenditures set forth herein. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "believes", "expects", "intends", "projects", "plans", "anticipates", "estimates" or "contains" or similar words or the negative thereof. These statements represent management's expectations or beliefs concerning, among other things, future capital expenditures and future operating results and various components thereof or the economic performance of Daylight and include, without limitation, statements with respect to the future financial position, business strategy, budgets, projected costs and plans, objectives of or involving Daylight or any of its respective affiliates; amounts to be retained by Daylight for growth; the amount and timing of the payment of distributions of Daylight; payout ratios; access to credit facilities; capital taxes; income taxes; commodity prices; administration costs; commodity price risk management activities; expectation of future production rates and components of cash flow and earnings. Actual events or results may differ materially. The projections, estimates and beliefs contained in such forward-looking statements are based on management's estimates, opinions and assumptions at the time the statements were made including assumptions relating to the production performance of Daylight's oil and gas assets, the cost and competition for services throughout the oil and gas industry in 2008 and beyond and the continuation of the current regulatory and tax regime in Canada, and necessarily involve known and unknown risks and uncertainties which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted. Daylight does not undertake to update any forward-looking information contained in this press release whether as to new information, future events or otherwise except as required by securities rules and regulations.

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.

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