Mr. Seymour Schulich, shareholder, reports

SEYMOUR SCHULICH ACQUIRES AN ADDITIONAL 5,000,000 SHARES OF PENGROWTH ENERGY CORPORATION AND NOW HOLDS 15.7%

Seymour Schulich, through the Schulich Foundation, 20 Eglinton Ave. West, Suite 1900, Toronto, Ont., M4R 1K8, has acquired, through open market purchases, an additional five million common shares and now owns 85 million common shares of Pengrowth Energy Corp. Nevada Capital Corp. Ltd., a wholly owned investment corporation, owns 70 million shares and the Schulich Foundation holds 15 million shares. In total, 85 million shares are owned or controlled by Mr. Schulich.

Mr. Schulich's current shareholdings represent 15.7 per cent of the current issued and outstanding common shares of Pengrowth. Mr. Schulich further advises that the shares have been acquired for investment purposes at this time.