IAT Air Cargo Facilities Income Fund



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

    RICHMOND, BC, July 8 /CNW/ - IAT Air Cargo Facilities Income Fund (the
"Fund") (TSX: ACF.UN) announced that it has filed on SEDAR the Trustees'
circular in response to the offer by FrontFour Holdings Inc. and FrontFour
Capital Group LLC ("FrontFour") (the "Offer") to acquire, at a price of $7.40
per unit, that number of units of the Fund that would give FrontFour, together
with their affiliates, 50% plus 100 units of the Fund. The Trustees' circular
will be mailed to all Unitholders commencing tomorrow.
    The Trustees Circular recommends that Unitholders not tender to the Offer
at this time. Unitholders are urged to read the Trustees Circular, which may
be found on www.sedar.com, in it entirety. The Trustees will communicate
further with Unitholders prior to the expiry of the Offer. The Offer expires
at 5:00 p.m. (Vancouver time) on August 20, 2008.

    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 the 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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