Carfinco Management Selected as Prairies Finalists for Entrepreneur of the
Year Award

TSX: CFN.UN

EDMONTON, July 7 /CNW/ - David Rosenkrantz, Chairman of Carfinco Income Fund ("Carfinco" or the "Fund"), Canada's leading automotive specialty finance income fund, today announced that management of the Fund have been selected as finalists for the prestigious Ernst & Young Entrepreneur Of The Year Award.

Tracy Graf, President & CEO of Carfinco and Troy Graf, VP & CFO have been chosen as one of the three 2010 Prairies finalists in the Professional/financial services category.

"The Board is pleased to see that Management is recognized for their tireless efforts and for the tremendous success of the Fund," said David Rosenkrantz.

In a recent news release from Ernst & Young, David Boomer, Director of Entrepreneur Of The Year for the Prairies region said, "This year's Prairies finalists have transformed innovative ideas into viable, sustainable enterprises, created jobs and built thriving communities. By showing tremendous focus and strength of character, these leaders have successfully taken their businesses to the next level."

The winners will be announced on October 14, 2010 at the annual gala banquet held in Calgary.

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.

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SOURCE Carfinco Financial Group Inc.

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 OR The Howard Group Inc., Jeff Walker/Dave Burwell, Investor Relations, Telephone: 1-888-221-0915, Telephone: 403-221-0915, E-mail: Info@howardgroupinc.com, Website: www.howardgroupinc.com

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Carfinco Financial Group Inc.

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