We have set out some questions and answers below to explain the main points of the Enerplus Trust Unit Monthly Distribution Reinvestment and Unit Purchase Plan. Unitholders should carefully read the Offering Circular which accompanies this document before making any decisions regarding the Plan.

What is the Trust Unit Monthly Distribution Reinvestment and Unit Purchase Plan?
What are the main features of the Plan?
Who is eligible to participate in the Plan?
How do I become a participant in the Plan?
When does my participation in the Plan start?
How can I make optional cash payments?
How many Units may I purchase with optional cash payments?
How will the Plan purchase new Units of the Fund for me?
What will be the price of new Units purchased under the Plan?
Will certificates be issued for new Units purchased?
How do I terminate participation in the Plan?
What statements will I receive under the Plan?
What are the income tax consequences of participation in the Plan?
Where can I obtain the required forms and who can I contact with any questions?

1. What is the Trust Unit Monthly Distribution Reinvestment and Unit Purchase Plan?

The Trust Unit Monthly Distribution Reinvestment and Unit Purchase Plan (the "Plan") provides residents of Canada who hold at least one (1) Trust Unit (a "Unit") of Enerplus Resources Fund (the "Fund") with a convenient method to reinvest the cash distributions received on Units in new Units of the Fund. In addition, the Plan allows eligible holders of Units ("Unitholders"), whether or not they participate in the distribution reinvestment portion of the Plan, to invest additional sums ("optional cash payments") in new Units of the Fund. All Units issued under the Plan are issued from the treasury of the Fund.

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2. What are the main features of the Plan?

• Under the distribution reinvestment component of the Plan, new Units are purchased monthly with reinvested distributions at a discount of 5% below the Average Market Price of the Units (as defined in the answer to Question 9) in respect of the applicable distribution payment date.
• Eligible Unitholders may also make optional cash payments, up to a maximum of $5,000 per month (and subject to a minimum of $250 per remittance), which will be used to purchase new Units. The price of the units purchased under the optional cash payment component of the Plan will be the Average Market Price, without any discount.
• There are generally no service charges in connection with the new Units acquired under the Plan and, because Units are purchased directly from the Fund, there are no brokerage fees. However, beneficial Unitholders should contact the broker, investment dealer, bank, trust company or other nominee holder (each a "Nominee") through which their Units are held to confirm what fees (if any) such Nominee may charge to enroll or participate in the Plan on their behalf.
• Full investment of participants' distributions is possible because fractions of Units (to three decimal places), as well as whole Units, may be purchased and held for participants. In addition, distributions on fractional and whole Units held under the Plan will be reinvested in new Units.
• Registered Participants will receive regular statements to assist their record keeping. Beneficial Unitholders will continue to receive such information from their Nominee holder.
• All administrative costs of the Plan are borne by the Fund.

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3. Who is eligible to participate in the Plan?

Any Canadian resident holder of at least one (1) Trust Unit of the Fund may join the Plan at any time. Unless authorized or otherwise announced by the Fund, Unitholders who are not residents in Canada are not eligible to participate in the Plan. An eligible Unitholder may participate in either one or both of the distribution reinvestment component or the optional cash payment component of the Plan.

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4. How do I become a participant in the Plan?

(a)     Distribution Reinvestment Component

If you are an eligible registered Unitholder, you may enroll in the distribution reinvestment component of the Plan at any time by duly completing an Enrollment Form and returning it to the Plan Agent no later than four (4) business days prior to the relevant distribution record date. If the Plan Agent receives an Enrollment Form after such date, the cash distribution in respect of that distribution record date will be paid to you by the Fund in the usual manner on the corresponding distribution payment date, and your participation in the Plan will commence on the next distribution payment date. The Fund's distribution record dates are normally on or about the 10th day of each month, and the Fund's distribution payment dates are normally on or about the 20th day of each month. If you are an eligible beneficial Unitholder whose Units are not registered in your own name but are held through a Nominee, you may participate in the distribution reinvestment component of the Plan by either: (i) having their Units transferred into and registered in your own name, or (ii) by instructing their Nominee to participate in the Plan on your behalf while maintaining the Units in the Nominee's account. Once you have enrolled in the distribution reinvestment component of the Plan, your participation continues automatically unless terminated in accordance with the terms of the Plan.

(b)     Optional Cash Payment Component

If you are an eligible registered Unitholder, you may enroll in the optional cash payment component of the Plan by duly completing an Optional Cash Purchase – Participant Declaration and Contribution Voucher and returning it to the Plan Agent, together with a certified cheque, bank draft or money order in Canadian dollars made payable to "Computershare", no later than four (4) business days prior to the applicable distribution record date. If you are an eligible beneficial Unitholder whose Units are not registered in your own name but are held through a Nominee or other registered holder, you may participate in the Plan by either: (i) having your Units transferred into and registered in your own name, or (ii) by instructing your Nominee or such registered holder to participate in the Plan on your behalf while maintaining the Units in the Nominee's account or registered in such holder's name. A registered holder who wishes to make optional cash payments on behalf of one or more beneficial owners must make the declaration set forth in the Optional Cash Purchase – Participant Declaration and Contribution Voucher that: (i) it is making the optional cash payment on behalf of one or more beneficial owners of Units that are registered in such registered holder's name, (ii) it has applied to participate in the Plan on behalf of each such beneficial owner, and (iii) at least $250 per remittance and not more than $5,000 per month is being paid on behalf of each beneficial owner. Nominees who are participants in CDS Clearing and Depository Services Inc. ("CDS") must complete and provide the appropriate CDS participant forms in order to make optional cash payments on behalf of eligible beneficial Unitholders who hold their Units through such Nominee. Such CDS participant forms may contain a similar declaration to that described above.

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5. When does my participation in the Plan start?

You will become a Participant under the distribution reinvestment component of the Plan as of the first distribution payment date following the receipt by the Plan Agent of a duly completed Enrollment Form, either directly from you if you are a registered Unitholder, or if you are a non-registered beneficial Unitholder, on your behalf through the Nominee through which you hold your Units. An Enrollment Form must be received by the Plan Agent at least four (4) business days prior to a distribution record date in order to have your distributions reinvested in Units on the corresponding distribution payment date. You may make optional cash payments at any time by providing the required forms and payment to the Plan Agent, either directly if you are a registered Unitholder or through your Nominee or other registered holder if you are a non-registered beneficial Unitholder. Such forms must be received at least four (4) business days prior to the applicable distribution record date in order to purchase Units on the corresponding distribution payment date. The Fund's distribution record dates are normally on or about the 10th day of each month, and the Fund's distribution payment dates are normally on or about the 20th day of each month.

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6. How can I make optional cash payments?

If you are a registered Unitholder, you can make an optional cash payment through the Unit Purchase Plan by enclosing a certified cheque, bank draft or money order in Canadian dollars payable to "Computershare" with the completed Optional Cash Purchase – Participation Declaration and Contribution Voucher included with your monthly statement of account or available from the Plan Agent or on the Fund's website at www.enerplus.com. If you are a beneficial Unitholder and hold your Units through a Nominee or other registered holder, you must instruct such Nominee or registered holder to make such optional cash payments on your behalf, including by completing the applicable forms. The same amount of money need not be sent each month and there is no continuing obligation to make optional cash payments. Optional cash payments may be made at any time but may not be less than $250 per remittance or exceed $5,000 in any month. No interest will be paid on optional cash payments received by the Plan Agent prior to their investment.

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7. How many Units may I purchase with optional cash payments?

Your optional cash payments may not exceed $5,000 per month (and are subject to a minimum of $250 per remittance), unless you are a Nominee or other registered holder making such payments on behalf of more than one eligible beneficial Unitholders, as discussed in the answer to Question 3. In addition, the Fund is subject to a limit that, in any financial year, it may not issue pursuant to optional cash payments in aggregate more than the maximum number of Units permitted by applicable laws and regulatory policies (currently equal to 2% of the number of Units issued and outstanding at the beginning of the financial year).

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8. How will the Plan purchase new Units of the Fund for me?

On each monthly distribution payment date, cash distributions payable on your Units that are enrolled in the distribution reinvestment component of the Plan, and any optional cash payments duly received from you (or on your behalf) will be applied automatically to the purchase of Units from the Fund's treasury at the applicable subscription price for new Units. The Plan Agent will hold such new Units for you either in its name or the name of its nominee.

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9. What will be the price of new Units purchased under the Plan?

The price of new Units purchased with reinvested distributions on Eligible Units pursuant to the distribution reinvestment component of the Plan will be 95% of the Average Market Price of the Units in respect of the applicable distribution payment date. The price of new Units purchased under the optional cash payment component of the Plan is the Average Market Price of the Units in respect of the applicable distribution payment date, without any discount. For the purposes of the Plan, "Average Market Price" means the weighted average trading price of the Units on the Toronto Stock Exchange for the 20 trading days immediately preceding a distribution payment date on which at least a board lot of such Trust Units was traded.

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10. Will certificates be issued for new Units purchased?

Normally, certificates for new Units purchased under the Plan will not be issued. The number of Units held for you under the Plan will be shown on your statement of account or other statement received from your Nominee holder. This protects you against loss, theft or destruction of Unit certificates. If you are a registered Unitholder, you may duly complete the withdrawal portion of the voucher located on the reverse of the statement of account provided each month to you and send it to the Plan Agent in order to have a Unit certificate issued in your name for any number of whole Units held for your account under the Plan, even though you are not terminating your participation in the Plan. If you are a beneficial Unitholder who holds your Units through a Nominee, you must contact the Nominee through which your Units are held in order to have a Unit certificate issued in your name. Normally a certificate will be sent to you within three weeks of receipt by the Plan Agent of your written request.

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11. How do I terminate participation in the Plan?

If you are a registered Unitholder, you may terminate your participation in the Plan at any time by duly completing the termination portion of the voucher on the reverse of the statement of account provided each month to you and sending it to the Plan Agent. If you are a non-registered beneficial Unitholder, you must contact the Nominee through which your Units are held in order to terminate your participation in the Plan. If the Plan Agent does not receive the termination request form at least four (4) business days prior to a distribution record date, your termination will not be effective until after the next distribution payment has been completed.

When you terminate your participation in the Plan, or upon termination of the Plan by the Fund, if you are a registered Unitholder you will receive a certificate for the whole Units held for your account and a cash payment for any fraction of a Unit held. Any optional cash payments received prior to termination but not yet invested will be returned to you, without interest. Any fractional Unit interest will be paid in cash, calculated using the Average Market Price of the Units applicable to the distribution payment date immediately preceding the effective date of termination. Normally a certificate will be sent to you within three weeks of receipt by the Plan Agent of your written request for such termination.

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12. What statements will I receive under the Plan?

With each monthly distribution, an unaudited statement of account will be mailed to you if you are a registered Unitholder. These statements are your continuing record of purchases and should be retained for income tax purposes. In addition, if you are a registered Unitholder, you will be sent annually the appropriate information for tax reporting purposes. If you are a beneficial owner of Units who is enrolled in the Plan through a Nominee, you may or may not be provided with such reports or forms from your Nominee.

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13. What are the income tax consequences of participation in the Plan?

It should be understood that the fact that distributions are reinvested in Units under the terms of the Plan does not relieve you of any liability for taxes that may be payable on such amounts. To the extent that a distribution from the Fund would be included in your income for the purposes of the Income Tax Act (Canada), such amount will be included your income if you elect to reinvest such amount. The amount that you reinvest (plus any cash consideration) will be added to the adjusted cost base of your Units for the purpose of computing any subsequent gain or loss thereon.

You are responsible for calculating and monitoring your own adjusted cost base in Units for income tax purposes, as certain averaging rules may apply and such calculations may depend on the cost of other Units held by you. If you are a beneficial owner of Units who is enrolled in the Plan through a Nominee, you may or may not be provided with such reports or forms from your Nominee.

You are urged to consult their tax advisers as to your particular tax position.

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14. Where can I obtain the required forms and who can I contact with any questions?

Requests for Enrollment Forms and Optional Cash Payment - Participant Declaration and Contribution Vouchers, and any further questions regarding the Plan, should be addressed to:

Computershare Investor Services Inc.
100 University Avenue, 9th Floor
Toronto, Ontario M5J 2Y1

Attention: Dividend Reinvestment Department
Telephone: 1-866-921-0978

or

Enerplus Resources Fund
The Dome Tower
Suite 3000
333 - 7th Avenue S.W.
Calgary, Alberta T2P 2Z1

Attention: Vice President, Investor Relations and Corporate Communications
Telephone: (403) 298-2200 or 1-800-319-6462
Facsimile: (403) 298-2211
E-mail: investorrelations@enerplus.com

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