EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

March 24, 2006 13:56 ET

EnerVest Diversified Income Trust Announces Taxation of Distributions Declared in 2005

CALGARY, ALBERTA--(CCNMatthews - March 24, 2006) - For the year ended December 31, 2005, distributions to Canadian resident unitholders of EnerVest Diversified Income Trust(TSX:EIT.UN) are to be treated for income tax purposes as follows:

1. 34.60437% of the distributions received are taxable as "other income";

2. 6.99692% of the distributions received are taxable as "dividend income";

3. 0.87203% of the distributions received are taxable as "foreign business income";

4. 0.47169% of the distributions received are taxable as "foreign non-business income";

5. 29.68501% of the distributions received are taxable as "capital gains";

6. 27.36998% of the distributions received is return of capital.

The 27.36998% return of capital to unitholders will reduce the adjusted cost base of the unitholder's trust unit. Foreign business and non-business income taxes paid were 0.09391% and 0.02011%, respectively, of the 2005 distributions received.

EnerVest distributed $0.84 per unit in 2005, consistently distributing $0.07 per unit per month to unitholders of record on the last trading day of each month.

EnerVest is an actively managed, closed-end trust which invests in a diversified portfolio of income, royalty and real estate investment trusts and limited partnerships, all of which trade on the Toronto Stock Exchange. EnerVest's objectives are to maximize monthly distributions relative to risk, reduce investment risk, and maximize net asset value over its life. EnerVest currently has 233,408,435 units outstanding, a net asset value of approximately $1.9 billion and an average trading volume of 532,608 per day for the first two months of 2006.

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

Contact Information

  • EnerVest Diversified Management Inc.
    Kevin W. Wolfe
    President & Chief Executive Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Diversified Management Inc.
    J. Ward Mallabone
    Chief Operating Officer
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Diversified Management Inc.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    or
    EnerVest Diversified Management Inc.
    Kristie Allen
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    Email: info@enervest.com
    Website: www.enervest.com
    or
    EnerVest Diversified Management Inc.
    Suite 2800, 700-9th Avenue S.W.
    Calgary, Alberta, T2P 3V4