Precision Drilling Trust's Board Approves Cash Distribution

Precision Drilling Trust announced that the Board of Trustees has approved a cash distribution for the month of August 2008 of $0.13 per trust unit of Precision.

The distribution will be payable on September 16, 2008 to unitholders of record on August 29, 2008. The ex-distribution date is August 27, 2008. Holders of Class B limited partnership units of Precision Drilling Limited Partnership will receive the economic equivalent treatment.