PrimeWest Energy Trust announces a 10% increase in distribution level for September 2004 CALGARY, Aug. 3 /PRNewswire-FirstCall/ -- (TSX: PWI.UN; PWX; NYSE: PWI) - PrimeWest Energy Trust (PrimeWest) today announces that the distribution payable September 15th, 2004 will be $0.275 Canadian per trust unit payable to all unitholders of record on August 23rd, 2004. The ex-distribution date will be August 19th, 2004. Continued strength in oil and gas prices, higher production levels, a strong balance sheet, and the expiry of a portion of the out-of-the-money hedges all contributed to this increase of 10% in the distribution level. Using a Canadian dollar to U.S. dollar exchange ratio of 1.32, this distribution amount would be approximately U.S.$0.208 per unit. The actual U.S. dollar equivalent distribution will be based upon the actual U.S./Canadian exchange rate applied on the payment date net of applicable Canadian withholding taxes. PrimeWest is a Calgary-based conventional oil and gas royalty trust that actively acquires, develops, produces, and sells natural gas, crude oil, and natural gas liquids for the generation of monthly cash distributions to unitholders. Trust units of PrimeWest are traded on the Toronto Stock Exchange (TSX) under the symbol "PWI.UN" and on the New York Stock Exchange under the symbol "PWI". Exchangeable shares of PrimeWest Energy Inc. are listed on the TSX under the symbol "PWX". Learn more about PrimeWest on our Web site, http://www.primewestenergy.com/. DATASOURCE: PrimeWest Energy Trust CONTACT: or for Investor Relations inquiries, please contact: George Kesteven, Manager, Investor Relations, (403) 699-7367, Toll-free: 1-877-968-7878, e-mail: ; To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on reports@cnw.

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