EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

March 26, 2007 09:30 ET

EnerVest Diversified Income Trust Announces Taxation of Distributions Declared in 2006

CALGARY, ALBERTA--(CCNMatthews - March 26, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

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

1. 38.41637% of the distributions received are taxable as "other taxable income";

2. 5.57191% of the distributions received are taxable as "actual amount of eligible dividends";

3. 0.40499% of the distributions received are taxable as "actual amount of non-eligible dividends";

4. 0.76079% of the distributions received are taxable as "foreign business income";

5. 3.24339% of the distributions received are taxable as "foreign non-business income";

6. 21.72926% of the distributions received are taxable as "capital gains";

7. 29.87329% of the distributions received are return of capital.

The 29.87329% 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 0.09027% and 0.00675%, respectively, of the 2006 distributions received.

EnerVest distributed $0.84 per unit in 2006, 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 primarily 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 268,972,677 units outstanding, a net asset value of approximately $1.9 billion and a daily average trading volume of 530,152 units for the first two months of 2007. EnerVest's net asset value per unit was $7.34 for March 23, 2007.

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

Contact Information

  • EnerVest Diversified Management Inc.
    Sean J.H.Morgan
    Chief Financial 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