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


View All News Releases November 18, 2008

    TSX: TUI.UN

    CALGARY, Nov. 18 /CNW/ - True Energy Trust ("True" or the "Trust")
confirms that the cash distribution for the month of November will be $0.04
per unit, to be paid on December 15, 2008 to all unitholders of record as at
November 28, 2008. The ex-distribution date for this payment is November 26,
2008. This distribution announcement is consistent with the guidance provided
in the news release dated October 15, 2008.
    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 0.97625 to 0.99741. This increase was effective on November 17,
2008.
    The following are the details used in the calculation of the Exchange
Ratio:Record Date of Distribution                              October 31, 2008
    Opening Exchange Ratio                                            0.97625
    True Energy Trust distribution per unit paid
     November 17, 2008                                                  $0.04
    5-day weighted average trading price
     (the "Current Market Price") (including the last
     business day prior to distribution payment date)                $1.84544
    Increase in Exchange Ratio                                        0.02116
    Effective Date of increase in Exchange Ratio            November 17, 2008
    Exchange Ratio as of the Effective Date                           0.99741The 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.

    %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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