Lawrence Income and Growth Fund Declares Monthly Distribution



    TORONTO, July 22 /CNW/ - The Manager of Lawrence Income and Growth Fund
("LIGF") (formerly Lawrence Payout Ratio Trust) today announced the Fund's
distribution to holders of Lawrence Income and Growth Fund Series X Units
(LAW480) and Series A Units (LAW400/LAW420). The monthly distribution of
$0.0583 per Series X trust unit and $0.04 per Series A trust unit will be
payable on or before August 15, 2008 to holders of record as of July 31, 2008.

    Lawrence Income and Growth Fund is an actively managed portfolio of
Canadian income funds, convertible bonds, debentures, high yield debt
instruments and listed equity securities. LIGF units are RRSP eligible. LIGF
is managed by Lawrence Asset Management Inc.

    
    Distribution Details

    Distribution per LAW480 Series X Units:             $0.0583
    Distribution per LAW400/LAW420 Series A Units:      $0.0400
    Ex-Dividend Date:                                   July 29, 2008
    Record Date:                                        July 31, 2008
    Payment Date:                                       August 15, 2008
    

    %SEDAR: 00025932E




For further information:

For further information: Investor Relations: Catherine Stretch, (416)
362-6283, info@lawvest.com, www.lawrenceasset.com

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LAWRENCE INCOME AND GROWTH FUND

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