EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

March 07, 2008 16:41 ET

EnerVest Diversified Income Trust Announces Taxation of Distributions Declared in 2007

CALGARY, ALBERTA--(Marketwire - March 7, 2008) -

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

(TSX:EIT.UN) For the year ended December 31, 2007, distributions to Canadian resident unitholders of EnerVest Diversified Income Trust ("EnerVest") are to be treated for income tax purposes as follows:



1. 40.98693% of the distributions received are taxable as "other taxable
income";
2. 3.29846% of the distributions received are taxable as "actual amount of
eligible dividends";
3. 0.24960% of the distributions received are taxable as "actual amount of
non-eligible dividends";
4. 2.87684% of the distributions received are taxable as "foreign business
income";
5. 1.10151% of the distributions received are taxable as "foreign
non-business income";
6. 51.68218% of the distributions received are taxable as "capital gains";
7. 0.04438% of the distributions received are return of capital;
8. (0.21816%) of the distribution is foreign business income tax paid; and
9. (0.02174%) of the distribution is foreign non-business income tax paid.


The 0.04438% return of capital to unitholders will reduce the adjusted cost base of the unitholder's trust unit. Please note that the above allocations including the foreign business and non-business income taxes paid add to a combined total of 100%.

EnerVest distributed $0.84 per unit in 2007, 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 300,354,048 Units outstanding, a net asset value of approximately $1.9 billion and a daily average trading volume of 622,909 units for the first two months of 2008.

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.
    Doran Heit
    Senior Financial Analyst
    (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
    or
    EnerVest Diversified Management Inc.
    Linda Koroluk
    Investor Relations
    (403) 571-5550 or Toll Free: 1-800-459-3384
    (403) 571-5554 (FAX)
    Email: info@enervest.com
    Website: www.enervest.com