DirectCash Income Fund announces: Appointment of new Chief Financial Officer



    TSX: DCI:UN

    CALGARY, April 29 /CNW/ - DirectCash Income Fund (the "Fund") hereby
announces a change in the Chief Financial Officer ("CFO") position. DirectCash
Management Inc. has entered into an employment agreement with Mr. Hendrik J.
Lombard, C.A. C.F.A. pursuant to which Mr. Lombard will commence employment
today (April 29, 2009). Mr. Lombard's duties will include acting as CFO for
DirectCash Management Inc. and the various other subsidiary limited
partnerships, partnerships and corporations that are part of the DirectCash
group (collectively referred to as "DirectCash"). DirectCash's current CFO,
John E. Fauville ceases to act as CFO as of April 29, 2009 - DirectCash thanks
Mr. Fauville for his service during his tenure with DirectCash.
    Mr. Lombard brings with him recent experience as CFO (from October 2007
to April 2009) and prior thereto as Controller and Director of Corporate
Finance (from August 2006 to October 2007) at Genoil Inc. which is a public
corporation listed on the TSX Venture Exchange. Mr. Lombard also brings with
him experience in accounting, corporate finance, financial management, mergers
and acquisitions, and systems implementation which he gained through the
various positions held with accounting firms and corporations in Canada and
internationally since 1989.
    Mr. Lombard received a Bachelor of Accounting degree from the University
of Stellenbosch, South Africa in 1988, and an Honours B.Com. degree from the
University of South Africa in 1990. Mr. Lombard obtained a Chartered
Accountant designation from the South Africa Institute of Chartered
Accountants in 1994, became a Chartered Financial Analyst charter holder
(issued by the international CFA Institute - head office in Charlottesville,
Virginia, USA) in 2003, and obtained a Chartered Accountant designation from
the Canadian Institute of Chartered Accountants in 2004.
    Starting April 29, 2009, Mr. Lombard's contact information will be as
follows :

    
                             Hendrik J. Lombard
                           Chief Financial Officer
                         DirectCash Management Inc.
                      Manager of DirectCash Income Fund
                           Direct: (403) 387-2103
                     e-mail: hlombard@directcash.net
    

    Management's Commentary:

    "We are pleased with the experience Mr. Lombard brings to DirectCash and
look forward to his future contributions at DirectCash" said Jeffrey Smith,
DirectCash Management Inc.'s President and Chief Executive Officer.

    DirectCash Business:

    The operating subsidiaries of the Fund (such subsidiary limited
partnerships, partnerships and corporations are collectively referred to as
"DirectCash") are the largest branded ATM provider in Canada operating under
the tradename "DirectCash ATM". DirectCash is also one of the leading
providers in Canada of branded non-financial institution debit terminals and
prepaid bank/credit card products.

    Additional Information:

    Additional information about the Fund and the Fund's operating
subsidiaries, including the Fund's Annual Information Form and other public
filings is available on SEDAR (www.sedar.com) and on the DirectCash's website
(www.directcash.net).
    The officer(s) responsible for issuance of this press release and who may
be contacted for further information is:

    
    Jeffrey J. Smith
    President, CEO & Director
    DirectCash Management Inc.
    Manager of DirectCash Income Fund
    Direct: (403) 387-2101
    e-mail: jeff@directcash.net

    ------------------------------------------------------------------------
    CAUTIONARY STATEMENT: No stock exchange, securities commission or other
    regulatory authority has approved or disapproved the information
    contained herein. This news release may include certain "forward-looking
    statements". Such forward-looking statements are not guarantees of future
    performance and involve a number of known and unknown risks and
    uncertainties which may cause the actual results of the Fund in future
    periods to differ materially from any projections expressed or implied by
    such forward-looking statements and therefore should not be relied upon.
    Any forward-looking statements are made as of the date hereof and the
    Fund does not undertake any obligation to publicly update or revise such
    statements to reflect new information, subsequent events or otherwise,
    except as required pursuant to applicable securities laws.
    -------------------------------------------------------------------------
    





For further information:

For further information: Jeffrey J. Smith, President, CEO & Director,
DirectCash Management Inc., Manager of DirectCash Income Fund, Direct: (403)
387-2101, e-mail: jeff@directcash.net

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DIRECTCASH INCOME FUND

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