Cargojet Income Fund CEO acquires additional units



    TORONTO, Aug. 27 /CNW/ - Cargojet Income Fund (the "Fund") (TSX: CJT.UN)
- Ajay Virmani, Chief Executive Officer of the Fund announced today that he
has acquired ownership of an additional 50,450 units ("Units") of the Fund at
a price of $8.25 per Unit through the facilities of the Toronto Stock
Exchange. Mr. Virmani has acquired a total of 201,800 units at an average
price of $7.63 per unit since the last Early Warning Report dated May 19,
2006.
    Ajay Virmani is a beneficiary and one of three trustees of the Virmani
Family Trust (the "Trust"). Together with the Trust, Ajay Virmani currently
owns, controls or has securities exchangeable for 2,251,996 Units representing
approximately 26.4% of the Units on a partially diluted basis. The Units were
acquired for investment purposes only. Mr. Virmani intends to acquire
additional Units in the future if available at appropriate prices.

    Cargojet is Canada's leading provider of time sensitive overnight air
cargo services. Cargojet operates its network across North America,
transporting over 885,000 pounds of time sensitive air cargo each business
night, utilizing a fleet of thirty-four all cargo aircraft.

    %SEDAR: 00022068E




For further information:

For further information: and for a copy of the National Instrument
62-103 Early Warning Report to be filed on SEDAR at www.sedar.com, please
contact Pauline Dhillon, VP Marketing, Public & Government Relations, Cargojet
Income Fund, 350 Britannia Road East, Units 5 & 6, Mississauga, Ontario, L4Z
1X9, (905) 501-7373 ext 135 or at pdhillon@cargojet.com


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