IAT Air Cargo Facilities Income Fund



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    RICHMOND, BC, June 13 /CNW/ - The Trustees of IAT Air Cargo Facilities
Income Fund (the "Fund") (TSX: ACF.UN) met today to review a news release
issued by FrontFour Holdings Inc. and FrontFour Capital Group LLC
("FrontFour") announcing FrontFour's intention to make a take-over bid (the
"Offer") to acquire up to 2,797,884 units of the Fund at a price of $7.40 per
unit.
    According to the FrontFour news release, FrontFour and affiliates
currently hold in aggregate 685,400 units of the Fund (approximately 9.84% of
the outstanding Fund units). The Offer would be for an additional 40.16% of
the outstanding units. If successful, FrontFour and affiliates would hold
50.001% of the outstanding units.
    FrontFour advises that its Offer will be made by a formal take over bid
circular which will contain the full terms and conditions of the Offer. The
Trustees intend to give full consideration to the Offer and will respond
further when further information is made available.

    The Fund is a limited purpose trust that owns all of the shares of IAT,
which owns and leases air cargo and aviation related buildings at Canadian
airports in Vancouver, Calgary, Edmonton, Saskatoon and Winnipeg. The Fund and
IAT specialize in the ownership, construction, management and marketing of
aviation-related facilities. IAT currently owns and manages approximately
1.1 million square feet of air cargo and aviation related facilities at five
of Canada's leading international airports. Approximately 65% of the Fund and
IAT's holdings are located at Vancouver International Airport, Canada's second
largest airport.

    CAUTION REGARDING FORWARD-LOOKING STATEMENTS: Forward-looking statements,
including statements with respect to future growth opportunities, transactions
and investments, ongoing business strategies or prospects, possible future
Fund and IAT actions and other measures are based on information available at
the time they are made, assumptions made by the Fund, and the Fund's good
faith belief with respect to future events, and are subject to the risks and
uncertainties outlined in the Fund's annual information form that could cause
actual performance or results to differ materially from those reflected in the
forward-looking statements, historical results or current expectations. All
forward-looking statements may be affected by and are subject to he risks set
out under Risk Factors in the Fund's annual information form.





For further information:

For further information: IAT CONTACT: Robert J. Mair, Chairman, IAT Air
Cargo Facilities Income Fund, Telephone (604) 685-3456

Organization Profile

IAT AIR CARGO FACILITIES INCOME FUND

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