PrimeWest Energy Trust Announces Distribution Level for June 2004 and Outcome of Unitholder Meeting TSX: PWI.UN; PWX; NYSE: PWI CALGARY, May 10 /PRNewswire-FirstCall/ -- PrimeWest Energy Trust (PrimeWest) today announces that the distribution payable June 15th, 2004 will be $0.25 Canadian per trust unit payable to all unitholders of record on May 21st, 2004. The ex- distribution date will be May 19th, 2004. Using a Canadian dollar to U.S. dollar exchange ratio of 1.37, this distribution amount would be approximately U.S.$0.18. 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. PrimeWest is also pleased to announce that at its Annual Meeting of unitholders held May 6th, unitholders voted 98% in favor of an amendment to the Declaration of Trust, which eliminates residency restriction provisions. PrimeWest now has until January 1st, 2007 to develop alternatives to the proposed non-residency requirement of the Canadian federal government budget. PrimeWest strongly believes that a key element of its long-term strategy is continued access to the North American capital markets. PrimeWest is a Calgary-based conventional oil and gas royalty trust that actively acquires, develops, produces, and sells natural gas, crude oil, and natural gas liquids for the generation of monthly cash distributions to unitholders. Trust units of PrimeWest are traded on the Toronto Stock Exchange (TSX) under the symbol "PWI.UN" and on the New York Stock Exchange under the symbol "PWI". Exchangeable shares of PrimeWest Energy Inc. are listed on the TSX under the symbol "PWX". Learn more about PrimeWest on our Web site, http://www.primewestenergy.com/. DATASOURCE: PrimeWest Energy Trust CONTACT: For Investor Relations inquiries, please contact: George Kesteven, Manager, Investor Relations, 403-699-7367, Cindy Gray, Investor Relations Advisor, 403-699-7356; Toll-free: 1-877-968-7878, e-mail: ; To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.

Copyright