Provident Energy Announces April Cash Distribution and Schedule for the 2006 Annual General Meeting

Provident Energy Trust (TSX:PVE.UN) (NYSE: PVX) (Provident) today announced its April cash distribution will be CDN$0.12 per unit payable on May 15, 2006. April's distribution will be paid to unitholders of record on April 24, 2006. The ex-distribution date will be April 20, 2006. The Trust's current annualized cash distribution rate is CDN$1.44 per trust unit.

For unitholders receiving their distribution in U.S. funds, the April 2006 cash distribution will be approximately US$0.10 per unit based on an exchange rate of 0.8721. The actual U.S. dollar distribution will depend on the Canadian/U.S. dollar exchange rate on the payment date and will be subject to applicable withholding taxes.

2006 Annual General Meeting

Provident Energy will hold its 2006 Annual General Meeting (AGM) at the Sunlife Conference Centre in Calgary, Alberta on Thursday, May 11, 2006. The AGM will commence at 2:00 p.m. (MDT).

A live webcast of the meeting will be available on Provident's website at www.providentenergy.com . Please access the website at least 10 minutes prior to the scheduled start to register.

Provident Energy Trust is a Calgary-based, open-ended energy income trust that owns and manages an oil and gas production business and a natural gas liquids midstream services and marketing business. Provident's energy portfolio is located in some of the most stable and predictable producing regions in Western Canada, Southern California and Wyoming. Provident provides monthly cash distributions to its unitholders and trades on the Toronto Stock Exchange and the New York Stock Exchange under the symbols PVE.UN and PVX, respectively.

This document contains certain forward-looking estimates that involve substantial known and unknown risks and uncertainties, certain of which are beyond Provident's control, including the impact of general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, pipeline design and construction, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. Provident's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking estimates and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking estimates will transpire or occur, or if any of them do so, what benefits, including the amounts of proceeds that Provident will derive there from.

Contacts: Provident Energy Trust Laurie Stretch Senior Manager, Investor Relations and Communications (403) 231-6710 Email: Email Contact Corporate Head Office: 800, 112 - 4th Avenue S.W. Calgary, Alberta T2P 0H3 (403) 296-2233 or Toll Free: 1-800-587-6299 (403) 294-0111 (FAX) Website: www.providentenergy.com