BORALEX TAKEOVER BID CONTESTED BEFORE QUEBEC SUPERIOR COURT

MONTREAL, Aug. 31 /CNW Telbec/ - A legal action has been filed before the Quebec Superior Court against Boralex Inc. ("Boralex"), Boralex Power Income Fund ("Fund") and 7503679 Canada Inc. to prevent them from illegally expropriating over 4,000,000 units of the Fund held by O'Leary Funds Management LP ("O'Leary") through its investment funds. O'Leary is requesting that the Quebec Superior Court enforce the existing requirement of 90% independent unitholder acceptance of any takeover offer prior to any squeeze-out on non-tendering unitholders. Under the terms of the Trust Agreement and Quebec law, the proposed squeeze-out of non-tendering unitholders by amendment to the Trust Agreement of the Fund is unreasonable, abusive, illegal and cannot be forced upon investors.

O'Leary, which manages investment funds owning approximately 9.09% of the units of the Fund, WILL NOT TENDER into the bid, which it believes to be inadequate, and believes that investors will be better served if they DO NOT TENDER and if they WITHDRAW TENDERED UNITS.

HOW TO WITHDRAW TENDERED UNITS: Unitholders who have tendered into Boralex's bid are urged to contact their advisor, investment dealer, broker or other nominee for assistance to withdraw any Fund units which they have previously deposited pursuant to the Offer. Withdrawals of Fund units deposited must be effected via CDS Clearing and Depository Services Inc., Customer Service 416-365-8400 (www.cds.ca).  A notice of withdrawal of Fund units deposited must actually be received by the depositary in a manner such that the depositary has a written or printed copy of such notice of withdrawal.  The withdrawal will take effect upon actual physical receipt by the depositary of the properly completed notice of withdrawal. For further information, please consult Section 7 of the Offer to Purchase in the original offer dated May 18, 2010.  Unitholders wishing to dispose of their Fund units are urged to do so through the Toronto Stock Exchange to gain immediate liquidity for their units.

SOURCE CONCERNED UNITHOLDERS OF BORALEX POWER INCOME FUND

For further information: For further information:

Connor O'Brien, CEO, O'Leary Funds Management LP, Chief Investment Officer, Stanton Asset Management Inc., (514) 849-0064, cobrien@stantonasset.com

For further information with respect to the legal action: William Brock, Ad. E., Davies Ward Phillips & Vineberg LLP, (514) 841-6438, wbrock@dwpv.com

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CONCERNED UNITHOLDERS OF BORALEX POWER INCOME FUND

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