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True Energy Trust Confirms February Distribution & Announces Increase to Exchangeable Share Ratio


View All News Releases January 17, 2008

    TSX: TUI.UN

    CALGARY, Jan. 17 /CNW/ - True Energy Trust ("True" or the "Trust")
confirms that the cash distribution for the month of January will be $0.04 per
unit, to be paid on February 15, 2008 to all unitholders of record as at
January 31, 2008. The ex-distribution date for this payment is January 29,
2008. This distribution announcement is consistent with the guidance provided
in the news release dated December 18, 2007.
    True also announces an increase in the ratio for exchanging Exchangeable
Shares of True Energy Inc. into trust units of the Trust (the "Exchange
Ratio") from 0.86040 to 0.88085. This increase was effective on January 15,
2008.The following are the details used in the calculation of the Exchange
Ratio:

    Record Date of Distribution                            December 31, 2007

    Opening Exchange Ratio                                           0.86040

    True Energy Trust distribution per unit
     paid January 15, 2008                                             $0.08

    5-day weighted average trading price
    (the "Current Market Price")                                    $3.36514
    (including the last business day prior to
    distribution payment date)

    Increase in Exchange Ratio                                       0.02045

    Effective Date of increase in Exchange Ratio            January 15, 2008

    Exchange Ratio as of the Effective Date                          0.88085The increase in the exchange ratio is calculated by multiplying the True
Energy Trust distribution per trust unit by the previous month's exchange
ratio and dividing by the Current Market Price of TUI.UN. A holder of True
Energy Inc. Exchangeable Shares can exchange all or a portion of their
holdings at any time for the True Energy Trust Units by completing the
Retraction Request Form located on the back of the exchangeable certificate.
Questions regarding Exchangeable Shares should be directed to Computershare
Trust Company of Canada at 1-800-564-6253.

    True Energy Trust is an exploration and production oil and gas trust
based in Calgary, Alberta, Canada. True is powered by a diverse asset base and
is focused on sustainable growth both in its people and in its properties.

    %SEDAR: 00021401E



Bellatrix Exploration Ltd.
1920, 800 5th Avenue SW
Calgary, Alberta T2P 3T6
Main: 403-266-8670
Fax: 403-264-8163
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