Pengrowth Energy Trust
NYSE : PGH
TSX : PGF.UN

Pengrowth Energy Trust
Pengrowth Corporation

Pengrowth Corporation

March 20, 2007 10:47 ET

Pengrowth Energy Trust Provides an Update on Canadian and U.S. Tax

Attention: Financial Editors

CALGARY, ALBERTA--(CCNMatthews - March 20, 2007) - Pengrowth Corporation, administrator of Pengrowth Energy Trust (TSX:PGF.UN) (NYSE:PGH), today is pleased to provide an update on 2006 tax information.

Canadian 2006 Tax Information:

Pengrowth reports that distributions paid in Canada during the 2006 calendar year were 80 percent taxable and 20 percent tax deferred. Canadian beneficial unitholders who received distributions in 2006 outside an RRSP, RRIF or DPSP should receive a T3 Supplementary slip from their broker. Canadian registered unitholders will receive a T3 Supplementary slip from Computershare Trust Company of Canada. The deadline for issuance of T3 Supplementary slips is March 31, 2007. A copy of the 2006 Canadian Tax Letter can be obtained at www.pengrowth.com.

Canadian 2006 Tax Information for Esprit Energy Trust:

Pengrowth reports that distributions paid by Esprit Energy Trust in Canada from February through to October 2006 were approximately 80 percent taxable and 20 percent tax deferred. Canadian beneficial unitholders who received distributions in 2006 outside an RRSP, RRIF or DPSP should receive a T3 Supplementary slip from their broker. Canadian registered unitholders will receive a T3 Supplementary slip from Computershare Trust Company of Canada. The deadline for issuance of T3 Supplementary slips is March 31, 2007. A copy of the 2006 Canadian Tax Letter can be obtained at www.pengrowth.com.

U.S. 2006 Tax Information:

Pengrowth advises that a U.S. tax information package, which includes a Substitute Schedule K-1 form, were mailed to U.S. beneficial unitholders who owned Pengrowth units during 2006 on or about March 6, 2007.

U.S. unitholders may also visit the website https://www.taxpackagesupport.com/pengrowth to view a copy of the 2006 tax schedule, print the tax package including instructions, automatically transfer amounts from Schedule K-1 to IRS forms filed by individuals and download a file of Schedule K-1 information that can also be imported into Turbo Tax software.

All U.S. K-1 enquiries should be directed to Pengrowth's K-1 toll free hotline at 1-877-527-6387.

U.S. 2006 Tax Information for Esprit Energy Trust:

Pengrowth reports that distributions paid by Esprit Energy Trust during the 2006 calendar year were 100 percent taxable with no tax deferred portion. Pengrowth believes that Esprit Energy Trust should be treated as a qualified corporation for U.S. tax purposes. As such, dividend distributions should be considered "Qualifying Dividends" subject to tax at a reduced rate in the U.S.

U.S. beneficial unitholders who received distributions in 2006 outside a qualified retirement plan should receive a Form 1099-DIV from their broker. U.S. registered unitholders will receive a Form 1099-DIV from Computershare Trust Company of Canada. A copy of the 2006 U.S. Tax Letter can be obtained at www.pengrowth.com.

PENGROWTH CORPORATION

James S. Kinnear, Chairman, President and Chief Executive Officer

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