Pengrowth Energy Trust Announces Cash Distribution for May 15, 2004 and Results of Annual General Meeting Stock Symbol: PGF.UN, TSX; PGH, NYSE CALGARY, April 22 /PRNewswire-FirstCall/ -- Pengrowth Corporation ("Pengrowth"), administrator of Pengrowth Energy Trust announced today the cash distribution payable May 15, 2004 will be Cdn $0.21 per trust unit. The distribution is net of amounts withheld to finance capital expenditures. The ex-distribution date is April 29, 2004 and the record date is May 3, 2004. The May 15, 2004 distribution of Cdn $0.21 per trust unit is equivalent to approximately U.S. $0.16 per trust unit using a U.S./Canadian dollar exchange ratio of 1.3532. The actual U.S. dollar equivalent distribution will be based upon the actual U.S./Canadian exchange rate applied on the payment date net of applicable Canadian withholding taxes. This distribution relates to the production month of March, 2004. Cash distributions paid over the past 12 months now total Cdn $2.56 per trust unit or approximately U.S. $1.91 per trust unit. Annual General Meeting Update: Pengrowth Corporation also announced today that the proposed reclassification of trust unit capital into Class A and Class B units received approval by in excess of 95% of the votes tendered in person or by proxy at the Special and Annual Meetings conducted on April 22, 2004. The reclassification will be implemented at a date determined and announced by the Board of Directors upon receipt of regulatory approval and satisfaction of other conditions set out in the Information Circular and Proxy Statement. PENGROWTH CORPORATION James S. Kinnear, President DATASOURCE: Pengrowth Energy Trust CONTACT: 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, Investor Relations, Toronto E-mail: , Telephone: (416) 362-1748, Toll Free: 1-888-744-1111, Facsimile: (416) 362-8191

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