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Harvest Energy Trust Confirms September 15th, 2004 Distribution and Announces Increase to Exchangeable Share Ratio

Aug 12, 2004 - 09:00 ET

CALGARY, ALBERTA--(CCNMatthews - Aug. 12, 2004) - Harvest Energy 
Trust ("Harvest") today announces that a cash distribution of 
$0.20 per trust unit will be paid on September 15th, 2004 to 
Unitholders of record on August 31st, 2004. Harvest trust units 
are expected to commence trading on an ex-distribution basis on 
August 27th, 2004. This distribution amount represents 
Distributable Cash earned in the month of August 2004. 

Harvest also announces an increase to the Exchange Ratio of the 
Exchangeable Shares of Harvest Energy Trust from 1.01356 to 
1.02574. This increase will be effective on August 16, 2004.  

Exchangeable Shareholders of Harvest can exchange all or a 
portion of their holdings at any time by giving notice to their 
investment advisor or Valiant Trust Company at its principal 
transfer office at Suite 510, 550 - 6th Avenue S.W., Calgary, 
Alberta, T2P OS2 (telephone: 403-233-2801). 

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. Trust 
units of Harvest are traded on the Toronto Stock Exchange (TSX) 
under the symbol "HTE.UN". For further information on Harvest, 
please visit our website at www.harvestenergy.ca. 

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. 

-30-


FOR FURTHER INFORMATION PLEASE CONTACT:

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

or

Harvest Energy Trust
Cindy Gray
Communications Advis
or

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

or

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