Carfinco Income Fund Announces Appointment of David Rosenkrantz as Chairman of the Board of Trustees; David Prussky Continues as Trustee



    TSX: CFN.UN

    EDMONTON, Jan. 26 /CNW/ - Carfinco Income Fund ("Carfinco" or the "Fund")
announces the appointment of David Rosenkrantz, as Chairman of the Board of
Trustees, effective today. Mr. Rosenkrantz replaces David Prussky who resigns
as Chairman. Mr. Rosenkrantz has been involved with Carfinco since inception,
as a member of the Board of Directors and then as a Trustee of the Fund.
    David Prussky has been a member Carfinco's Board of Trustees since the
formation of the Fund and will continue to serve as a Trustee of the Fund.
Prior to the conversion to an income fund, Mr. Prussky was also Chairman of
Carfinco's Board of Directors.
    "Mr. Prussky's involvement over the past 12 years has been crucial to the
success of Carfinco and his continued contribution as a member of the Board of
Trustees is invaluable," commented Mr. Tracy Graf, President and CEO of the
Fund. "Mr. Rosenkrantz is well suited for the position, having also been
involved with Carfinco for the past 12 years. We look forward to the future of
Carfinco with Mr. Rosenkrantz as the Chairman of the Board of Trustees."

    About Carfinco Income Fund

    Carfinco focuses on providing consumer car 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.

    %SEDAR: 00019164E




For further information:

For further information: Mr. Tracy A. Graf, CEO & Trustee of Carfinco
Income Fund, Telephone: 1-888-486-4356, Facsimile: 1-888-486-7456, E-mail:
tgraf@carfinco.com

Organization Profile

Carfinco Financial Group Inc.

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