IBI Income Fund announces 5.5% increase in cash distribution to unitholders, the fifth increase in the Fund's distribution rate since its initial public offering in August 2004.
TORONTO, February 21 2008 - IBI Income Fund (the "Fund") (TSX: IBG.UN) today announced that the monthly cash distribution on its Fund Units has been increased by $0.006667, or 5.5%, to $0.1275 per Fund Unit ($1.53 per Fund Unit per annum) effective with the distribution for the month of February 2008, payable on March 31, 2008 to unitholders of record on February 29, 2008. This is the fifth increase in the Fund's distribution rate since its initial public offering in August 2004.
The Fund also announced that IBI Group Management Partnership will receive a distribution of $0.1275 per Class B Unit held by it in IBI Group for the month of February 2008 payable on March 31, 2008. As more fully described below, IBI Group is the partnership through which the professional services business of the Fund is indirectly carried on.
About the IBI Income Fund
The Fund holds an indirect 68% interest in IBI Group, a partnership which provides professional services, including planning, design, implementation, analysis of operations and other consulting services in relation to four main areas of development, being urban land, building facilities, transportation networks and systems technology. The remaining 32% of IBI Group, represented by Class B Units, is owned by IBI Group Management Partnership. On a fully diluted basis, IBI Group Management Partnership has a 46.6% interest in the Fund.
There are currently 10,651,111 Fund Units and 5,025,778 Class B Units issued and outstanding. All of the Class B Units are owned by IBI Group Management Partnership. The Class B Units of IBI Group are exchangeable, on a one-for-one basis, for Fund Units.
The Fund is a TSX listed income trust, which pays monthly distributions and trades under the symbol "IBG.UN". Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
For further information, please contact:
Allan J. Kamerman
IBI Income Fund
230 Richmond Street West, 5th Floor
Toronto, ON M5V 1V6
Tel: 416-596-1930
Fax: 416-596-8024
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