CALGARY, March 31 /PRNewswire-FirstCall/ -- Precision Drilling Trust ("Precision") announces today that it has filed its annual disclosure documents and annual meeting materials with Canadian Securities Commissions and the United States Securities and Exchange Commission. Precision's annual report contains the audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2005. Precision's financial results for the year ended December 31, 2005 were previously released on February 15, 2006. Precision's annual information form has been filed on the Canadian system for electronic document analysis and retrieval ("SEDAR") and included in the annual report filed in Form 40-F on the U.S. electronic data gathering, analysis and retrieval ("EDGAR") system. Precision has mailed its annual meeting materials to holders of units of Precision and holders of Class B Limited Partnership Units of Precision Drilling Limited Partnership. The annual meeting will be held on May 9, 2006 in the McMurray Room of the Calgary Petroleum Club, 319 - 5th Avenue S.W., Calgary, Alberta, Canada at 3:00 p.m., Calgary time. The notice of meeting, management information circular and instruments of proxy were filed on SEDAR and on EDGAR as a Form 6-K. Copies of the above described documents are also available on Precision's website at http://www.precisiondrilling.com/. Precision Drilling Trust is Canada's largest energy services trust. Headquartered in Calgary, Alberta, Precision is the leading provider of energy services to the Canadian oil and gas industry. Precision provides customers with access to an extensive fleet of contract drilling rigs, service rigs, camps, snubbing units and rental equipment backed by a comprehensive mix of technical support services and skilled, experienced personnel. Precision is listed on the Toronto Stock Exchange under the trading symbol "PD.UN" and in U.S. dollars "PD.U" and on the New York Stock Exchange under the trading symbol "PDS". DATASOURCE: Precision Drilling Trust CONTACT: Please contact Darren Ruhr, Vice President, Corporate Services and Corporate Secretary of Precision Drilling Corporation, Administrator of Precision Drilling Trust, 4200, 150 - 6th Avenue S.W., Calgary, Alberta T2P 3Y7, Telephone (403) 716-4500, Fax (403) 264-0251; website: http://www.precisiondrilling.com/. Archived images on this organization are searchable through CNW Photo Archive website at http://photos.newswire.ca/. Images are free to accredited members of the media. To request a free copy of this organization's annual report, please go to http://www.newswire.ca/ and click on Tools for Investors.

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