GENIVAR Income Fund announces closing of $50,000,000 equity financing



    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
    DISSEMINATION IN THE U.S./

    MONTREAL, Sept. 13 /CNW Telbec/ - GENIVAR Income Fund (TSX:GNV.UN)
("GENIVAR" or the "Fund") announced today the closing of its previously
announced public offering of 1,902,439 trust units (the "Units") for gross
proceeds of $39,000,000 (the "Offering") and the private placement of 536,585
non-subordinated exchangeable LP units (the "LP Units") from treasury of
GENIVAR Limited Partnership ("GENIVAR LP") for gross proceeds of $11,000,000
(the "Private Placement").
    The Offering and the Private Placement will result in net proceed to the
Fund of approximately $47,550,000 which will be used to repay the bank
advances and the advances payable to GENIVAR Inc. and to fund the growth
strategy of the Fund.
    The Units were offered to the public pursuant to a short form prospectus
filed with securities regulatory authorities in each province of Canada
through an underwriting syndicate led by National Bank Financial Inc., Raymond
James Ltd. and TD Securities Inc. and also including BMO Nesbitt Burns Inc.
and Cormark Securities Inc.
    This news release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or sale would
be unlawful. The Units offered will not be and have not been registered under
the United States Securities Act of 1933, as amended (the "U.S. Securities
Act") and may not be offered or sold in the United States except pursuant to
exemptions from the registration requirements of the U.S. Securities Act and
applicable state securities laws.

    About GENIVAR

    GENIVAR is a leading Canadian Engineering services firm providing private
and public sector clients with a comprehensive range of professional
consulting services through all execution phases of a project including
planning, design, construction and maintenance. Clients fall into various
market segments such as building, industrial and power, urban infrastructure,
transportation and environment. GENIVAR is one of the largest Engineering
Services firm in Canada in terms of number of employees with over
2,100 managers, professionals, technicians and technologists and support staff
in 45 offices in Canada and internationally.




For further information:

For further information: Pierre Shoiry, President and Chief Executive
Officer, (514) 340-0046, ext. 5104; Marcel Boucher, Chief Financial Officer,
(514) 340-0046, ext. 5163; Marlène Casciaro, Director of Communications, (514)
340-0046, ext. 5184

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GENIVAR Inc.

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