Pengrowth Energy Trust Announces Closing of Trust Unit Equity Financing Stock Symbol: PGF.UN, TSX / PGH, NYSE CALGARY, March 23 /PRNewswire-FirstCall/ -- Pengrowth Corporation ("Pengrowth") administrator of Pengrowth Energy Trust announced today theclosing of the issue of 10,900,000 trust units, including 2,700,000 trust units issued upon the exercise of the underwriters' option, at a price of CDN$18.40 per trust unit for aggregate gross proceeds of CDN$200,560,000. The offering was underwrittenby a syndicate of underwriters led by RBC Dominion Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Dundee Securities Corporation, Raymond James Ltd. and Peters & Co. Limited. 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, Calgary, E-mail: , Telephone: (403) 233-0224, Toll Free: 1-800-223-4122, Facsimile: (403) 294-0051; Sally Elliott, Investor Relations, Toronto, E-mail: , Telephone: (416) 362-1748, Toll Free: 1-888-744-1111, Facsimile: (416) 362-8191

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