Precision Drilling Trust Announces November 2008 Distribution

(Canadian dollars)

Precision Drilling Trust ("Precision") announced today that the Board of Trustees has approved a cash distribution for the month of November 2008 of $0.13 per trust unit of Precision. The distribution will be payable on December 16, 2008 to unitholders of record on November 28, 2008. The ex-distribution date is November 26, 2008. Holders of Class B limited partnership units of Precision Drilling Limited Partnership will receive the economic equivalent treatment.

Precision is a leading provider of safe, high performance energy services to the North American oil and gas industry. Precision provides customers with access to an extensive fleet of contract drilling rigs, service rigs, camps, snubbing units, wastewater treatment units and rental equipment backed by a comprehensive mix of technical support services and skilled, experienced personnel.

Precision Drilling Trust is listed on the Toronto Stock Exchange under the trading symbol "PD.UN" and on the New York Stock Exchange under the trading symbol "PDS".

Website: www.precisiondrilling.com