CALGARY, May 5 /PRNewswire-FirstCall/ -- Precision Drilling Trust ("Precision") will hold its Annual Meeting of Unitholders on Tuesday, May 9, 2006. The meeting will be held in the McMurray Room of the Calgary Petroleum Club, 319 - 5th Avenue S.W., Calgary, Alberta, Canada, and will begin at 3:00 p.m. MT (5:00 p.m. ET). A live webcast of the Annual Meeting will be accessible on Precision's website at http://www.precisiondrilling.com/ by selecting "Investor Relations", then "Webcasts". An archived recording of the webcast will also be available approximately two hours after the conclusion of the live event. 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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