Carfinco Income Fund Appoints Chief Operating Officer and Chief Financial Officer

TSX: CFN.UN

EDMONTON, Sept. 19, 2011 /CNW/ - Carfinco Income Fund ("Carfinco" or the "Fund") announces Mr. Troy Graf has been appointed Chief Operating Officer ("COO") and Mr. Stephen Dykau has been appointed Chief Financial Officer ("CFO"), effective September 19, 2011.

Mr. Graf has been with Carfinco since its inception in 1996 and was appointed as the CFO in November 1998. Mr. Graf has been a key management team member and instrumental in assisting Carfinco in its growth from a start-up in 1996 to its market leading position in the Canadian sub-prime auto finance industry today.

Mr. Dykau joined Carfinco in April 2009 as Vice President of Finance. Mr. Dykau is a Chartered Accountant and prior to his employment with Carfinco, held professional roles in the areas of assurance, advisory, and financial reporting.  Since joining Carfinco in April 2009, Mr. Dykau successfully led the transition of Carfinco's external reporting to comply with International Financial Reporting Standards ("IFRS"), and has managed the internal and external financial reporting processes of the Fund.

"As we continue to grow and mature we are excited about the future prospects of Carfinco. The knowledge and disciplined approach that Troy and Stephen bring to the executive of the Fund is invaluable to the implementation of programs, policies and procedures designed to positively impact the growth, efficiency and success of Carfinco," stated Mr. Tracy Graf, Chief Executive Officer of the Fund.

About Carfinco Income Fund

Carfinco focuses on providing consumer vehicle loans to borrowers unable to obtain financing through traditional lending sources.  A network of select independent and franchise dealerships offer Carfinco's payment plan to their customers who must, along with the vehicle, meet Carfinco's underwriting guidelines. The units of the Fund trade on The Toronto Stock Exchange under the symbol "CFN.UN".

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Fund.  These statements are subject to a number of risks and uncertainties.  Actual results may differ materially from results contemplated by the forward-looking statements.  When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.


SOURCE Carfinco Income Fund

For further information:

Mr. Tracy A. Graf  The Howard Group Inc.
CEO & Trustee of Carfinco Income Fund          Jeff Walker / Dave Burwell
Telephone: 1-888-486-4356  Investor Relations
Facsimile: 1-888-486-7456  Telephone: 1-888-221-0915
E-mail: tgraf@carfinco.com  E-mail: Info@howardgroupinc.com
Web site: www.carfinco.com  Web site:  www.howardgroupinc.com

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Carfinco Income Fund

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