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Harvest Energy Trust Announces Closing of U.S.$250 Million Senior Notes Offering and November Distribution

Oct 14, 2004 - 19:07 ET

CALGARY, ALBERTA--(CCNMatthews - Oct. 14, 2004) - (TSX: HTE.UN) - 
Harvest Energy Trust ("Harvest") announces the closing of its U.S.$250 
million offering of 7 7/8% Senior Notes due 2011. The net proceeds of 
U.S.$241 million from the notes offering will be used to permanently 
repay Harvest's $70 million bank bridge facility with the balance used 
to repay a portion of its outstanding revolving credit facility. 
Management believes this financing has enhanced Harvest's financial 
flexibility.

Harvest also announces that a cash distribution of $0.20 per trust unit 
will be paid on November 15th, 2004 to Unitholders of record on October 
29th, 2004. Harvest trust units are expected to commence trading on an 
ex-distribution basis on October 27th, 2004. This distribution amount 
represents Distributable Cash earned in the month of October 2004. 

Harvest Energy Trust is a Calgary-based energy trust actively managed 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 trust units are traded on the Toronto 
Stock Exchange (TSX) under the symbol "HTE.UN". Please visit Harvest's 
website at www.harvestenergy.ca for additional corporate information and 
recent corporate presentations.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN 
THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY 
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. 


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FOR FURTHER INFORMATION PLEASE CONTACT:

Harvest Energy Trust
Jacob Roorda
President
(403) 265-1178 or Toll Free: (866) 666-1178

or

Harvest Energy Trust
David Rain
Vice President & CFO
(403) 265-1178 or Toll Free: (866) 666-1178

or

Harvest Energy Trust
Cindy Gray
Investor Relations & Communications Advis
or

(403) 265-1178 or Toll Free: (866) 666-1178

or

Harvest Energy Trust
1900, 330 - 5th Avenue S.W.
Calgary, AB Canada T2P 0L4
(403) 265-1178 or Toll Free: (866) 666-1178
(403) 265-3490 (FAX)
Email: information@harvestenergy.ca
Website: www.harvestenergy.ca