FrontFour Holdings Inc. announces purchase of 1,000 units of IAT Air Cargo Facilities Income Fund (TSX: ACF.UN)



    VANCOUVER, June 30 /CNW/ - FrontFour Capital Group LLC ("FrontFour LLC")
announces that it purchased 1,000 units (the "Fund Units") of IAT Air Cargo
Facilities Income Fund (the "Fund", TSX Symbol ACF.UN) at a price of $6.85 per
unit on the Toronto Stock Exchange today.
    On June 24, 2008, FrontFour Holdings Inc. ("FrontFour Holdings"), and its
parent FrontFour LLC, commenced a take-over bid (the "Offer") to acquire at a
price of $7.40 in cash per unit (the "Offer Price") that number of Fund Units
(which as of today's date would represent 2,800,184 Fund Units) that
constitutes, when added to the Fund Units owned by FrontFour Holdings, its
joint actors or any of their respective affiliates, 50% plus 100 Units of the
Fund Units outstanding (on a fully diluted basis) at the time Fund Units are
taken up under the Offer.
    The 1,000 Fund Units purchased today by FrontFour are the only Fund Units
that FrontFour has purchased since the Offer commenced on June 24, 2008. As a
result of today's purchase, FrontFour Holdings and its joint actors own an
aggregate of 683,100 Fund Units, representing approximately 9.81% of the Fund
Units outstanding.
    The formal take-over bid circular in respect of the Offer has been filed
on SEDAR. Fund Unitholders should read the take-over bid circular and any
other materials relating to the Offer, copies of which can be obtained on the
SEDAR website at www.sedar.com.

    About FrontFour

    FrontFour Capital Group LLC is a privately owned hedge fund management
company based in New York, New York. FrontFour Holdings Inc. is a British
Columbia corporation and a wholly owned subsidiary of FrontFour Capital Group
LLC.

    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.





For further information:

For further information: Zachary George at (877) 744-1272


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