EDMONTON, April 4 /CNW/ - AutoCanada Income Fund ("AutoCanada" or the
"Fund" TSX: ACQ.UN), Canada's only publicly traded franchised automobile
dealership business, today announced that Jim Peters, for personal reasons,
has resigned from the Board of AutoCanada GP Inc. ("AutoCanada GP"), the
general partner of AutoCanada LP, effective April 4, 2007.
"On behalf of the Fund, the Trustees of the Fund, and the other members
of the Board of Directors of AutoCanada GP, I want to thank Jim for the
contribution he has made to AutoCanada GP and the Fund during his time as a
director and Chair," said Gordon Barefoot, Chair of the Fund. "Jim's guidance
and commitment have been greatly appreciated and we wish him well in the
AutoCanada also announced today the appointment of Michael Ross to the
Board of Directors of AutoCanada, effective April 4, 2007, replacing Mr.
Mr. Ross previously served as the Vice President of Cap Gemini Ernst &
Young Canada Inc., as a partner of Ernst & Young, and presently serves as a
board member for Norseman Group Ltd., and as a committee member for each of
YMCA Canada and Weatherhaven Corporation.
AutoCanada is Canada's only publicly traded entity with interests
exclusively in the operation of franchised automobile dealerships. Through its
54% interest in AutoCanada LP, it operates or manages 17 franchised automobile
dealerships in six provinces and has over 940 employees. It currently sells
various new vehicle brands, including Chrysler, Dodge, Jeep, Subaru, Hyundai,
and, through a managed dealership, Nissan. In 2006, its franchised automobile
dealerships sold approximately 19,000 vehicles and processed approximately
215,000 service and collision repair orders in 245 service bays, generating
revenue of approximately $694 million.
Additional information about AutoCanada Income Fund is available at
www.sedar.com and the Fund's website at www.autocan.ca.
For further information:
For further information: Tom Orysiuk, CA, Executive Vice-President and
Chief Financial Officer, AutoCanada Income Fund, Phone: (780) 732-3139