DirectCash Income Fund announces refiling of MD&A and CEO/CFO Certifications



    TSX: DCI.UN

    CALGARY, Aug. 31 /CNW/ - DirectCash Income Fund ("DirectCash" or the
"Fund") today announced filing of revised Annual MD&A for the year ended
December 31, 2008, revised Interim MD&A for the period ended March 31, 2009,
Certification of Refiled Annual Filings (Form 52-109F1R) and Certification of
Refiled Interim Filings (Form 52-109F2R).
    Upon further review of National Instrument 52-109, DirectCash has revised
its disclosures on Internal Controls over Financial Reporting in its Annual
MD&A for the year ended December 31, 2008 and its Interim MD&A for the period
ended March 31, 2009.
    The revised disclosures clarify that, as of the period end dates,
management concluded that the internal controls over financial reporting were
not effective to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with GAAP.
    DirectCash's management concluded that its internal control over
financial reporting was not effective as at the reporting date, due to the
following material weaknesses:

    
    -   Due to the small size of DirectCash, it did not maintain effective
        segregation of duties over certain transactions which can lead to
        ineffective monitoring, supervision and potential misappropriation of
        assets.
    -   Due to the limited number of people employed, the Fund does not have
        in-house expertise to deal with complex legal, IT, taxation,
        accounting and reporting issues.
    

    DirectCash does not plan to remediate the above mentioned weaknesses as
the cost would outweigh the benefits. The Fund engages outside expertise to
assist with complex issues when deemed necessary.
    In connection with the above refiled annual and interim MD&A's,
DirectCash has filed the Certification of Refiled Annual Filings (Form
52-109F1R) and Certification of Refiled Interim Filings (Form 52-109F2R).
    Additional information about the Fund is available on SEDAR
(www.sedar.com) or the Fund's website at www.directcash.net.





For further information:

For further information: Hendrik J. Lombard, C.F.O., DirectCash
Management Inc., Manager of DirectCash Income Fund, Bay No. 6, 1420 - 28th
Street N.E., Calgary, Alberta, T2A 7W6, Direct Telephone: (403) 387-2103, Fax:
(403) 451-3003, E-mail: hlombard@directcash.net

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DIRECTCASH INCOME FUND

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