Precision Drilling Trust Declares January 2008 Distribution

Precision Drilling Trust reported that the Board of Trustees has approved a cash distribution for the month of January 2008 of CD$0.13 per trust unit of Precision. The distribution will be payable on February 15, 2008 to unitholders of record on January 31, 2008. The ex-distribution date is January 29, 2008. Holders of Class B limited partnership units of Precision Drilling Limited Partnership will receive the economic equivalent treatment.

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