Enerplus update

Enerplus Royalty Trust: Update. 2005-11-03

We have made excellent profits from this Royalty Trust over the last 2 years.
We still have Enerplus as a hold in our Dependable portfolio, because it is increasing its dividends.
Below are a few snippets from recent press releases regarding Enerplus.

Another energy trust getting fresh guru funds is Enerplus Resources Fund (NYSE: ERF ), a Canadian trust that yields a hefty 10.3%. In the last two weeks, gurus have added more than 50% to their holdings, with most of that buying in the last week. The trust said last week that third-quarter funds from operations were up 30% to $1.77 per share. Gurus like the trust, which has not been hit as hard in recent months as many other oil and gas stocks have.

Enerplus announces cash distribution for December 2005
Wednesday November 30, 6:00 am ET NYSE: ERF

CALGARY, Nov. 30 /CNW/ - Enerplus Resources Fund is pleased to announce that a cash distribution in the amount of CDN$0.42 (forty-two cents) per unit will be payable on December 20, 2005 to all Unitholders on record on December 10, 2005. The ex-distribution date for this payment is December 7, 2005.

The CDN$0.42 (forty-two cents) per unit is equivalent to approximately US$0.36 (thirty-six cents) per unit if converted using a Canadian/US dollar exchange ratio of 1.17. The US dollar equivalent distribution will be based upon the actual Canadian/US exchange rate applied on the payment date and will be net of any Canadian withholding taxes that may apply.

Eric Tremblay
Senior Vice-President, Capital Markets
Enerplus Resources Fund