Livingston International Income Fund mails circular recommending that
unitholders vote in favour of its acquisition by CPP Investment Board and
Sterling Partners

Special Meeting to be Held on November 24, 2009

TORONTO, Oct. 29 /CNW/ - Livingston International Income Fund (TSX: LIV.UN) ("Livingston") announced today that it has mailed its notice of special meeting and management information circular ("Circular") to unitholders, recommending that unitholders vote in favour of the acquisition of Livingston by CPP Investment Board and Sterling Partners.

The special meeting to consider the transaction is scheduled for November 24, 2009 at 9:30 a.m. EST at the offices of Stikeman Elliott LLP in Toronto. Unitholders of record as at October 14, 2009 are eligible to vote.

The Circular has been filed on SEDAR at www.sedar.com and is also available from the Investor Relations section of Livingston's web site at www.livingstonintl.com.

Livingston's board of trustees unanimously supports the transaction and urges unitholders to review the Circular, which contains important information about the proposed transaction, including the background to the offer and the reasons why Livingston believes that the acquisition is fair to, and in the best interests of, unitholders.

"The transaction with CPP Investment Board and Sterling Partners emerged as the best alternative following a confidential targeted auction process initiated by the board of trustees in June 2009," said Peter Valentine, chairman of Livingston's board of trustees. "The all-cash offer, representing a significant premium over the volume-weighted average price of the units during the 30 trading days before the transaction was announced, provides certainty of value and liquidity to unitholders."

"In the absence of the transaction, unitholders face the risk that Livingston will be adversely affected by challenges associated with continued uncertain economic conditions worldwide," continued Mr. Valentine.

How to vote

Unitholders may attend the special meeting in person and should contact their broker, securities dealer, trust company or other intermediary well in advance of the special meeting to obtain information on how to vote in person. Alternatively, unitholders should exercise their right to vote by following the instructions provided with the Circular or by otherwise following instructions provided by their broker or other intermediary. Unitholders are advised to provide their voting instructions via Internet, telephone or mail. Details are explained in the Circular under the heading "General Proxy Matters".

For further information

Unitholders wishing further information or who have questions should contact Laurel Hill Advisory Group toll free in North America at 1-800-209-3068. Unitholders may also visit the Investors section of Livingston's web site at www.livingstonintl.com.

About Livingston

Livingston International Income Fund is a trust that holds the securities of Livingston International Inc., a leading North American provider of customs, transportation and integrated logistics services. Headquartered in Toronto, Ontario, Livingston has approximately 2,500 employees located at some 100 key border points, seaports, airports and other strategic locations across Canada and the United States.

About CPP Investment Board

The CPP Investment Board is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPP Investment Board invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At June 30, 2009, the CPP Fund totalled $116.6 billion. For more information about the CPP Investment Board, please visit www.cppib.ca.

About Sterling Partners

Sterling Partners is a private equity firm with a 25-year history of generating superior returns, with a focus on business services, health care and education. With approximately US$4 billion of capital under management, the firm invests in industries with positive, long-term trends and provides ongoing support with a diverse and balanced team of industry veterans, operators, investors, strategy experts and human capital professionals. Sterling Partners is co-headquartered in Chicago and Baltimore, with additional offices in Mexico City and Delhi. For more information, please visit www.sterlingpartners.com.

SOURCE LIVINGSTON INTERNATIONAL INCOME FUND

For further information: For further information: Dawneen MacKenzie, Vice-President, Public Affairs, 1-800-387-7582 ext. 3109, dmackenzie@livingstonintl.com

Organization Profile

LIVINGSTON INTERNATIONAL INCOME FUND

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Livingston International Inc.

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