RICHMOND, BC, Dec. 5 /CNW/ - IAT Air Cargo Facilities Income Fund (the
"Fund") (TSX: ACF.UN), a limited purpose trust that owns all of the shares of
International Aviation Terminals Inc. ("IAT"), which owns and leases air cargo
and aviation related buildings at Canadian airports in Vancouver, Calgary,
Edmonton, Saskatoon, and Winnipeg, today reported a distribution to
unitholders for the quarter ending December 31, 2007.
A distribution of $0.18 per unit will be payable on January 15, 2008 to
unitholders of record at the close of business on December 31, 2007. The total
annual distribution declared by the Fund for 2007 is $0.69 per unit, an
increase of $0.01 per unit from the previously announced projected annual
distribution of $0.68, which was based on IAT's 2007 Business Plan.
The Trustees of the Fund and IAT's manager, AMB Property Canada Ltd., are
continuing to review alternatives for IAT's Business Plan for 2008, and at
this time, the Trustees expect to continue distributions at the quarterly rate
of $0.17 per unit for the first quarter of 2008.
IAT Air Cargo Facilities Income Fund
The Fund and IAT, the Fund's wholly-owned subsidiary, 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 expected distributions, cash flows,
revenues, earnings, capital expenditures, occupancy rates, growth rates, value
of future lease extensions, ongoing business strategies or prospects. Adjusted
EBITDA, possible future Fund and IAT action and other measures are based on
information available at the time they are made, assumptions made by
management, and management'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: Alison M. Hill, President & Chief
Executive Officer, International Aviation Terminals Inc., Direct (415)
733-9499, Fax (415) 477-2199, Email firstname.lastname@example.org