IBI Income Fund declares its monthly cash distribution to unitholders



    TORONTO, Sept. 19 /CNW/ - IBI Income Fund (the "Fund") (TSX: IBG.UN)
today declared a cash distribution of $0.1333 per Fund Unit for the month of
September 2008, payable October 31, 2008 to unitholders of record on  
September 30, 2008.
    The Fund also announced that IBI Group Management Partnership will
receive a distribution of $0.1333 per Class B Unit held by it in IBI Group for
the month of September 2008 payable on October 31, 2008. As more fully
described below, IBI Group is the partnership through which the professional
services business of the Fund is indirectly carried on.

    About the IBI Income Fund

    The Fund holds an indirect 68% interest in IBI Group, a partnership which
provides professional services, including planning, design, implementation,
analysis of operations and other consulting services in relation to four main
areas of development, being urban land, building facilities, transportation
networks and systems technology. The remaining 32% of IBI Group, represented
by Class B Units, is owned by IBI Group Management Partnership. On a fully
diluted basis, IBI Group Management Partnership has a 46.9% interest in the
Fund.
    There are currently 10,651,111 Fund Units and 5,025,778 Class B Units
issued and outstanding. All of the Class B Units are owned by IBI Group
Management Partnership. The Class B Units of IBI Group are exchangeable, on a
one-for-one basis, for Fund Units.
    The Fund is a TSX listed income trust, which pays monthly distributions
and trades under the symbol "IBG.UN". Holders of units who are non-residents
of Canada will be required to pay all withholding taxes payable in respect of
any distributions of income by the Fund.

    %SEDAR: 00021044E




For further information:

For further information: Allan J. Kamerman, IBI Income Fund, 230
Richmond Street West, 5th Floor, Toronto, ON, M5V 1V6, Tel: (416) 596-1930,
Fax: (416) 596-8024

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IBI Group Inc.

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