TSX: TUI.UN

CALGARY, Jan. 26 /CNW/ - True Energy Trust (The "Trust") announces that Wayne M. Chorney has resigned as President, Chief Executive Officer, Chief Operating Officer and a Director of True Energy Inc. ("True"), the administrator of the Trust. The Board of Directors of True wish Mr. Chorney the best in his future endeavours and thank him for his leadership and guidance during his tenure.

True is pleased to announce that Raymond G. Smith, P. Eng. has been appointed as President and Chief Executive Officer of True. Mr. Smith is currently a director of True. Mr. Smith brings a broad range of experience to the position gleaned from a career which has spanned 41 years in the Western Canada Sedimentary Basin, the United States of America, Tunisia and Argentina. Mr. Smith is currently the Chairman of Madelena Ventures Inc. and was previously the President and Chief Executive Officer of Meridian Energy Corporation, prior to its acquisition by True and was also the Founder and Senior Officer of Corsair Exploration Ltd., New Cache Petroleum Ltd, and Rydal Energy Ltd.

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