Provident Announces January Cash Distribution

CALGARY, ALBERTA, Jan 12 (MARKET WIRE) --
All values are in Canadian dollars unless otherwise indicated.

Provident Energy Trust (Provident) (TSX: PVE.UN) (NYSE: PVX) today
announced that its January cash distribution will be $0.09 per unit
payable on February 13, 2009. The January cash distribution will be paid
to unitholders of record on January 23, 2009. The ex-distribution date
will be January 21, 2009. The Trust's current annualized cash
distribution rate is $1.08 per trust unit. Based on the current
annualized cash distribution rate and the closing price on January 12,
2009 of $5.53, Provident's yield is approximately 20 percent. In
determining the monthly cash distribution, Provident will continue to
monitor and assess the impact of commodity prices on cash flow in
conjunction with capital spending requirements and prudent debt
management.

For unitholders receiving their distribution in U.S. funds, the January
2009 cash distribution will be approximately US$0.07 per unit based on an
exchange rate of 0.8280. 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.

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. 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 press release does not constitute and is not intended to be legal or
tax advice to any particular holder or potential holder of Provident
units. Holders or potential holders of Provident units are urged to
consult their own legal and tax advisors as to their particular income
tax consequences of holding Provident units.

This document contains certain forward-looking statements concerning
Provident, as well as other expectations, plans, goals, objectives,
information or statements about future events, conditions, results of
operations or performance that may constitute "forward-looking
statements" or "forward-looking information" under applicable securities
legislation. Such statements or information 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.

Such forward-looking statements or information are based on a number of
assumptions which may prove to be incorrect. In addition to other
assumptions identified in this news release, assumptions have been made
regarding, among other things, commodity prices, operating conditions,
capital and other expenditures, and project development activities.

Although Provident believes that the expectations reflected in such
forward-looking statements or information are reasonable, undue reliance
should not be placed on forward-looking statements because Provident can
give no assurance that such expectations will prove to be correct.
Forward-looking statements or information are based on current
expectations, estimates and projections that involve a number of risks
and uncertainties which could cause actual results to differ materially
from those anticipated by Provident and described in the forward-looking
statements or information.

The forward-looking statements or information contained in this news
release are made as of the date hereof and Provident undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise unless so required by applicable securities laws. The
forward-looking statements or information contained in this news release
are expressly qualified by this cautionary statement.

Contacts:
Provident Energy Trust
Investor and Media Contact:
Dallas McConnell
Manager, Investor Relations
(403) 231-6710
Email: info@providentenergy.com

Corporate Head Office:
2100, 250 -2nd Street SW
Calgary, Alberta T2P 0C1
(403) 296-2233 or Toll Free: 1-800-587-6299
(403) 262-8973 (FAX)
Website: www.providentenergy.com

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