Pengrowth Energy Trust announces the closing of the Swan Hills Unit No. 1 acquisition Stock Symbol: PGF.A/PGF.B, TSX; PGH, NYSE CALGARY, Feb. 28 /PRNewswire-FirstCall/ -- Pengrowth Corporation ("Pengrowth"), administrator of Pengrowth Energy Trust, announced today that it has closed the previously announced acquisition of an additional working interest in Swan Hills Unit No. 1. Pengrowth successfully acquired an additional working interest of 11.89% increasing Pengrowth's total working interest in the Swan Hill Unit to 22.34%. The acquisition will add approximately 1,390 barrels of oil equivalent (boe) production per day and additional reserves of approximately 9.7 mmboe on a total proved reserves basis and 12.0 mmboe on a proved plus probable reserves basis based on an independent appraisal performed by Gilbert Laustsen Jung Associates Ltd. The transaction was completed for an adjusted purchase price of $87 million. Pengrowth funded the purchase through existing bank facilities. PENGROWTH CORPORATION James S. Kinnear, President DATASOURCE: Pengrowth Energy Trust CONTACT: about Pengrowth, please visit our website http://www.pengrowth.com/ or contact: Investor Relations, E-mail: , Telephone: (403) 233-0224, Toll Free: 1-800-223-4122, Facsimile: (403) 294-0051; Investor Relations, Toronto, Toll Free: 1-888-744-1111, Facsimile: (416) 362-8191

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