Provident to Initiate NYSE Listing

December 6, 2005

Press Release #31-05

CALGARY, ALBERTA - Provident Energy Trust (TSX-PVE.UN; AMEX-PVX) h as announced its intention to move its U.S. listing to the New York Stock Exchange (NYSE) from the American Stock Exchange (AMEX) and expects trading of its trust units to commence on the NYSE effective December 16, 2005. The trust units will continue to trade under the symbol "PVX."

"Provident has grown tremendously in the nearly five years since the inception of the Trust, increasing market capitalization to approximately $2.3 billion and generating strong returns for our unitholders," said Tom Buchanan, Chief Executive Officer. "We believe the move to the NYSE will provide greater access to capital markets, improve the visibility and liquidity of the trust units, and provide a platform for anticipated future growth."

"Provident has enjoyed a strong relationship during our term with AMEX and would like to express our appreciation for their professionalism, service and support," Mr. Buchanan said. Provident's trust units will continue to trade on the AMEX until December 16.

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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 natural gas liquids midstream services and marketing business. Provident's energy portfolio is located in some of the more stable and predictable producing regions in Western Canada, California and Wyoming. Provident provides monthly cash distributions to its unitholders and currently trades on the Toronto Stock Exchange and the American Stock Exchange under the symbols PVE.UN and PVX, respectively.

Investor and Media Contact: Laurie Stretch Senior Manager, Investor Relations and Communication 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) 294-0111 www.providentenergy.com