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

Daylight Resources Trust

May 02, 2009 19:34 ET

Daylight Resources Trust Announces Resolution to Reduce Unit Award Limit

CALGARY, ALBERTA--(Marketwire - May 2, 2009) - Daylight Resources Trust ("Daylight") (TSX:DAY.UN) announces that the Board of Directors (the "Board") of Daylight Energy Ltd., the administrator of Daylight, has approved a resolution to voluntarily restrict the issuance of unit awards under Daylight's Unit Award Incentive Plan (the "Unit Award Plan") to 4.3% of the aggregate number of issued and outstanding trust units of Daylight plus the number of trust units issuable upon exchange or conversion of outstanding exchangeable securities of Daylight, if any. The current limit under the Unit Award Plan is 5.0%.

Daylight understands that this Board resolution will result in Risk Metrics/Institutional Shareholder Services ("ISS") revising its recommendation to a "FOR" vote in connection with the ordinary resolution to be considered by Unitholders of Daylight at its upcoming Annual and Special Meeting scheduled for May 7, 2009 to approve the grant of unallocated unit awards issuable under the Unit Award Plan.

Daylight's high-end technical team integrates and emphasizes our exploitation, reservoir engineering, production optimization, geological and geophysical expertise to identify and capture reserves and production addition opportunities for the delivery of long-term value creation to our Unitholders. Our team has developed a multi-year inventory of repeatable, low risk exploitation projects with substantial potential reserve additions on assets we currently own and control. Daylight's inventory includes a significant depth of prospects across our high quality asset base. Daylight has approximately 91 million trust units currently outstanding which trade on the TSX under the symbol DAY.UN. Daylight Series A, Series B, and Series C convertible debentures trade on the TSX under the symbols DAY.DB, DAY.DB.B and DAY.DB.C respectively.

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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