We like to think that when we deposit a dollar at the bank, it goes into a big vault and we can pull out that same dollar at any time. But that¿s not how the U.S. banking system works. Banks take that money and invest it to make money themselves, so cash gets spread around. This, naturally, leads to a big risk: What happens if those investments go sour? Well, you¿d be out of luck. You can¿t get your dollar back.

The Federal Reserve doesn¿t like that scenario, so it prohibits banks from putting all the cash it has on deposit on the line. In fact, the Fed forces banks to keep a portion of their assets at the Federal Reserve itself, to make sure that some of your assets won¿t get squandered if the bank¿s bets go south. These are called ¿reserves,¿ (hence, Federal Reserve. Got it? Good), and usually amount to 10% of the total cash kept in checking accounts.

These reserves are never exactly 10%, and banks like to keep a little extra in reserve ¿ not, as you might think, to make you more comfortable that they¿re in good financial shape, but rather so they can take that excess and lend it to other banks and make money off it. (They¿re banks, they can¿t help themselves.) The rate at which they make these loans is called the Federal Funds rate, which is set by the Federal Reserve¿s Federal Open Market Committee.

When you hear people chattering about how the Fed cut or hiked interest rates, this is what they¿re talking about: the interest rate banks can charge for lending money from their reserves. This begs the question: If these are essentially loans between banks, why is the Fed Funds rate so important for the rest of the economy?

Well, simply put, because loans make the financial world go round. Bank A lends Bank B $10,000 at a Fed Funds rate of 5%. Bank B then lends out $10,000 to a small business at 7%. The small business then takes that money and expands the business and hires new workers. Now someone is employed, Bank B has made interest off the loan, and Bank A is the richer for making it all happen. It¿s perhaps overly simplistic, but you get the idea. When you want the economy to thrive, you make lending cheaper.

Of course, sometimes you don¿t want the economy to thrive. In fact, you might want it to cool down, mostly to avoid money flooding the system and causing inflation. In that case, the Fed raises interest rates, making it difficult to lend or borrow.

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Thursday, June 12, 2008

Enerplus to present at Canadian Association of Petroleum Producers' 20th Annual Oil and Gas Investment Symposium

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Comtex

CALGARY, Jun 12, 2008 (Canada NewsWire via COMTEX) ----TSX: ERF.UN

NYSE: ERF

Enerplus is pleased to advise that Mr. Gordon J. Kerr, President and Chief Executive Officer, will provide an update on the Fund's activities via a presentation at the 20th Annual CAPP Oil and Gas Investment Symposium on Monday, June 16, 2008 at 9:55 a.m. MDT. Investors are invited to watch a live webcast of the presentation at:

events.onlinebroadcasting.com/capp/061608/index.php?page=launch

Enerplus is a high-yielding equity investment in the oil and natural gas business. We are one of Canada's oldest and largest independent oil and gas producers established in 1986. We have built a balanced and diversified portfolio of producing properties across western Canada and the United States with a focus on large resource plays that offer predictable production and repeatable, low-risk development opportunities in conventional oil and gas production as well as in Canada's oil sands. Enerplus creates value through development drilling, optimization and acquisitions that enhance the sustainability of our business over the long-term. Through our discipline of paying a significant portion of our cash flow to investors each month, we believe we offer an attractive investment in the oil and gas industry.

Enerplus trust units trade on the Toronto Stock Exchange under the symbol "ERF.UN" and on the New York Stock Exchange under the symbol "ERF".

Gordon J. Kerr

President & Chief Executive Officer

Enerplus Resources Fund

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans" and similar expressions, are forward-looking information that represents management of Enerplus' internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Enerplus. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Enerplus' actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Enerplus' filings with the Canadian and U.S. securities authorities. Accordingly, holders of Enerplus Trust Units and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted.

%CIK: 0001126874

SOURCE: Enerplus Resources Fund

Investor Relations at 1-800-319-6462 or e-mail investorrelations@enerplus.com

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