Provident Announces the Appointment of John Zaozirny as the New Chair of Provident's Board of Directors

October 3, 2005

Press Release #21-05

CALGARY, ALBERTA - Provident Energy Trust (Provident) (TSX - PVE.UN; AMEX-PVX) today announced that Grant Billing, Chair of the Board of Provident is stepping down as Chair, but will remain a member of the Board. John Zaozirny, Q.C., has been appointed by the Board of Directors as the new Chair.

"Our board believes the regular rotation of the Chair and Committee Chairs is a good governance practice," said Mr. Billing.

Mr. Zaozirny currently chairs the Governance, Human Resources and Compensation Committee. He serves as counsel to the law firm of McCarthy Tetrault and is vice-chairman of Canaccord Capital Corporation and is a director and strategic advisor to a number of public and private corporations as well as a governor of the Business Council of British Columbia.

"On behalf of the board of directors, I would like to acknowledge and thank Mr. Billing for the strong leadership, dedication and guidance he provided throughout his tenure as Board Chair," said Mr. Zaozirny.

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Provident Energy Trust is a Calgary-based, open-ended energy income trust that owns and manages an oil and gas production business and a midstream services business. Provident’s energy portfolio is located in some of the more stable and predictable producing regions in western Canada, southern California and Wyoming. Provident provides monthly cash distributions to its unitholders and trades on the Toronto Stock Exchange and the American Stock Exchange under the symbols PVE.UN and PVX, respectively.

Investor and Media Contact: Patricia Lew Investor Relations and Communication Analyst Phone: (403) 231-6710 Email: info@providentenergy.com          Corporate Head Office: 800, 112 – 4th Avenue S.W. Calgary, Alberta, Canada  T2P 0H3 Phone: (403) 296-2233 Toll Free: 1-800-587-6299 Fax: (403) 261-6696 www.providentenergy.com