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Harvest Energy Trust Confirms August 15th, 2003 Cash Distribution of $0.20 Per Unit

Jul 14, 2003 - 11:08 ET


CALGARY, CANADA-- 

Harvest Energy Trust ("Harvest")
announces that a cash distribution of $0.20 per trust unit will 
be paid on August 15th, 2003 to Unitholders of record on July 
31st, 2003. Harvest trust units are expected to commence trading 
on an ex-distribution basis on July 29th, 2003. This distribution 
amount represents Distributable Cash earned in the month of July 
2003.

Harvest Energy Trust is a Calgary based oil and natural gas trust 
that strives to deliver stable monthly cash distributions to its 
Unitholders through its strategy of acquiring, enhancing and 
producing crude oil, natural gas and natural gas liquids. Harvest's 
assets, comprised of high quality medium and heavy gravity crude oil 
properties in East Central Alberta, and its hands-on operating 
strategy underpin Harvest's objective to deliver consistent returns 
to Unitholders.

ADVISORY: Certain information regarding Harvest Energy Trust and 
Harvest Operations Corp. including management's assessment of future 
plans and operations, may constitute forward-looking statements 
under applicable securities law and necessarily involve risks associated 
with oil and gas exploration, production, marketing and transportation 
such as loss of market, volatility of prices, currency fluctuations, 
imprecision of reserve estimates, environmental risks, competition from 
other producers and ability to access sufficient capital from internal 
and external sources; as a consequence, actual results may differ materially 
from those anticipated in the forward-looking statements.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Jacob Roorda,
President;
David M. Fisher,
Vice President,
Finance,
Harvest Energy Trust,
Telephone: (403) 265-1178,
Facsimile: (403) 265-3490,
Email address: information@harvestenergy.ca