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Harvest Announces Monthly Distribution of C$0.38 Per Trust Unit for Second Quarter 2007

Apr 11, 2007 - 12:59 ET

 CALGARY, ALBERTA--(CCNMatthews - April 11, 2007) - Harvest Energy Trust (TSX:HTE.UN) (NYSE:HTE) ("Harvest") today announces that a cash distribution of Cdn$0.38 per trust unit will be payable to unitholders for each of the months of April, May and June, 2007 as per the table below. This quarterly distribution declaration reflects Harvest's commitment to sustainability, and is based on forecast commodity price levels and operating performance that are consistent with the current environment.

                                                           $Cdn Distribution
Record Date Ex-Distribution Date Payment Date Amount
-------------- -------------------- ------------- -----------------
April 23, 2007 April 19, 2007 May 15, 2007 $0.38
May 24, 2007 May 22, 2007 June 15, 2007 $0.38
June 22, 2007 June 20, 2007 July 16, 2007 $0.38

The Cdn$0.38 per unit is equivalent to approximately U.S.$0.33 per unit if converted using a Canadian/U.S. dollar exchange ratio of 1.158. For U.S. beneficial holders, the U.S. dollar equivalent distribution will be based upon the actual Canadian/U.S. exchange rate applied on the payment date and will be net of any Canadian withholding taxes that may apply.

Harvest also announces that it has amended its Distribution Reinvestment Plan (the "DRIP Plan") such that it is now available to unitholders resident in the U.S. Effective with the distribution payable June 15, 2007, U.S. unitholders may now elect to direct their monthly distributions to the purchase of additional trust units at a price equivalent to 95% of the market price of the trust units calculated as the weighted average trading price of the trust units on the Toronto Stock Exchange for the period commencing on the second business day following the record date applicable to such distribution payment and the second business day immediately prior to the distribution payment date. This amendment does not include the Premium DistributionTM nor the Optional Trust Unit Purchase Plans.

The full text of the Plan and the enrolment forms will be mailed to Harvest's U.S. registered unitholders. These materials will also be available on Harvest's website at or by contacting Harvest toll free at 1-866-666-1178.

Harvest is one of Canada's largest energy trusts offering exposure to upstream oil and natural gas production and downstream refining and marketing operations. We are focused on identifying opportunities to create and deliver value to unitholders through monthly distributions and unit price appreciation. With an active acquisition program and the technical approach taken to maximizing our assets, we strive to grow cash flow per unit. Our crude oil and natural gas production business is weighted approximately 70% to crude oil and liquids and 30% to natural gas, and is complemented by our medium gravity, sour crude oil refinery. Harvest trust units are traded on the Toronto Stock Exchange ("TSX") under the symbol "HTE.UN" and on the New York Stock Exchange ("NYSE") under the symbol "HTE".      


 Harvest Energy Trust
John Zahary
President & CEO
(403) 265-1178 or Toll Free: (866) 666-1178


Harvest Energy Trust
Robert Fotheringham
Chief Financial Officer
(403) 265-1178 or Toll Free: (866) 666-1178


Harvest Energy Trust
Cindy Gray
Manager, Investor Relations
(403) 265-1178 or Toll Free: (866) 666-1178


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)