LMG, Aeroplan's wholly-owned subsidiary, announces end of Debenhams contract



    MONTREAL, Canada and LONDON, UK Feb. 1 /CNW Telbec/ - Aeroplan Income
Fund (Aeroplan) (TSX: AER.UN) and its wholly-owned subsidiary, Loyalty
Management Group (LMG), owner and operator of Nectar, today announced Nectar
and department store, Debenhams, will not be renewing their contract upon its
expiry on February 15, 2008.
    Rupert Duchesne, President and CEO, Aeroplan, confirmed today that
"notwithstanding the loss of Debenhams, Aeroplan's financial guidance for LMG
issued at the time of the acquisition remains unchanged."
    Nectar is a constantly changing and dynamic business and will look to
develop opportunities for its collectors to earn Nectar points with clothing
and department stores both online and the high street.
    The expiry of the Debenhams contract from the programme will not affect
Nectar collectors' ability to collect or redeem Nectar points at other retail
outlets outside Debenhams. Nectar Points will not be issued or redeemed at
Debenhams after February 15, 2008.

    About Aeroplan Income Fund

    Aeroplan Income Fund is an unincorporated, open-ended trust established
under the laws of the Province of Ontario. Aeroplan Income Fund is the owner
of Aeroplan Limited Partnership, Canada's premier loyalty marketing company
and operator of the Aeroplan loyalty program and Loyalty Management Group
Limited, operator of Nectar, the United Kingdom's largest customer reward
program.
    For more information about Aeroplan, please visit www.aeroplan.com

    About LMG

    LMG is based in the United Kingdom and develops, owns and manages large
retail-based customer reward programs and provides customer data driven
marketing services to retailers, CPGs and service providers worldwide. The
group owns and operates the Nectar brand, the United Kingdom's largest
customer reward program. It also majority owns the Air Miles programme in the
Middle East as well as owning the Air Miles trademark around the world. It
employs approximately 250 staff at its HQ in London and has operations in
Newcastle, England and Mumbai, India.
    For more information about LMG, please visit www.loyalty.co.uk.

    About Nectar

    Nectar is the UK's leading coalition loyalty program with multiple
partners representing grocery, fuel, energy, entertainment and credit card
sectors. 50% of UK households participate in the program and 19 Nectar cards
are swiped every second of every day. Nectar has given back over (pnds stlg)1
billion worth of rewards to its collectors since its launch in September 2002.
    %SEDAR: 00022208EF




For further information:

For further information: Media: LMG: Megan Ratcliffe, +44 020 7152 4881,
m.ratcliffe@loyalty.co.uk; Rowena Denham, +44 020 7544 3014,
rowena.denham@fishburn-hedges.co.uk; Russell Saunders, +44 020 7544 3025,
russell.saunders@fishburn-hedges.co.uk; Aeroplan: Michèle Meier, (514)
205-7028, michele.meier@aeroplan.com; Analysts: Aeroplan: Trish Moran, (416)
352-3728, trish.moran@aeroplan.com

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AEROPLAN INCOME FUND

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