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Harvest Energy Trust Announces Increase to Exchangeable Share Ratio and Adjustment to Convertible Debenture Conversion Price

Mar 11, 2005 - 07:00 ET

CALGARY, ALBERTA--(CCNMatthews - March 11, 2005) - Harvest Energy Trust
("Harvest") (TSX:HTE.UN)today announces an increase to the Exchange 
Ratio of the Exchangeable Shares of Harvest Energy Trust from 1.08192 to 
1.08991. This increase will be effective on March 15th, 2005.

As announced on February 28, 2005, Harvest will make a special 
distribution of $0.252, payable in the form of trust units, to 
unitholders of record on March 31, 2005. This distribution will adjust 
the exchange ratio of the exchangeable shares on the same basis as 
Harvest's regular monthly distributions. This distribution will also 
adjust the conversion price of Harvest's outstanding 9% and 8% series of 
convertible debentures. The ratio and conversion price adjustments will 
take effect concurrently with the exchange ratio increase that will 
occur on April 15, 2005, and details of the adjustments will be 
announced in early April.

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.

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FOR FURTHER INFORMATION PLEASE CONTACT:

 Harvest Energy Trust
Jacob Roorda
President
(403) 265-1178 or Toll Free: (866) 666-1178
(403) 265-3490 (FAX)

or

Harvest Energy Trust
David Rain
Vice President & CFO
(403) 265-1178 or Toll Free: (866) 666-1178
(403) 265-3490 (FAX)

or

Harvest Energy Trust
Cindy Gray
Investor Relations & Communications Advis
or

(403) 265-1178 or Toll Free: (866) 666-1178
(403) 265-3490 (FAX)
gray@harvestenergy.ca

or

Harvest Energy Trust
2100, 330 - 5th Avenue S.W.
Calgary, AB Canada T2P 0L4
(403) 265-1178 or Toll Free: (866) 666-1178
(403) 265-3490 (FAX)
information@harvestenergy.ca
www.harvestenergy.ca