Pengrowth Energy Trust Announces Cash Distribution for April 15, 2004 Stock Symbol: PGF.UN, TSX; PGH, NYSE CALGARY, March 23 /PRNewswire-FirstCall/ -- Pengrowth Corporation ("Pengrowth"), administrator of Pengrowth Energy Trust announced today the cash distribution payable April 15, 2004 will be Cdn $0.21 per trust unit. The distribution is net of amounts withheld to finance capital expenditures and is also payable to unitholders who participated in the offering of 10.9 million trust units which closed today. The ex-distribution date is March 30, 2004 and the record date is April 1, 2004. The April 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 1.3326. 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 February, 2004. Cash distributions paid over the past 12 months now total Cdn $2.60 per trust unit or approximately U.S. $1.93 per trust unit. 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, Investor Relations, Toronto E-mail: , Telephone: (416) 362-1748, Toll Free: 1-888-744-1111, Facsimile: (416) 362-8191

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