Newalta Income Fund Announces June Distribution



    TSX Trading Symbol: NAL.UN

    CALGARY, June 16 /CNW/ - Newalta Income Fund ("Newalta") (TSX:NAL.UN)
today announced that it has declared a cash distribution of 18.5 cents per
trust unit for the month of June 2008, payable on July 15, 2008, to all
unitholders of record on June 30, 2008. The ex-distribution date is June 26,
2008.
    To the extent that any portion of these distributions is designated as
dividends paid by Newalta, that portion is designated to be an "eligible
dividend" pursuant to subsection 89(14) of the Income Tax Act (Canada) and
corresponding provincial legislation.
    Newalta's DRIP provides eligible unitholders with the opportunity to
reinvest their monthly distribution to acquire additional trust units at a
purchase price equal to 95% of the average market price. The deadline for
completing and delivering enrollment forms to Valiant Trust Company is 3:00 pm
(MST) on the business day immediately preceding the record date.
    Based on the June 16, 2008 closing price of $20.11 per trust unit, the
June distribution represents an annualized cash-on-cash yield of approximately
11.0%.

    Newalta Income Fund is Canada's largest industrial waste management and
environmental services provider and focuses on maximizing the value inherent
in industrial waste through the recovery of saleable products and recycling.
It also provides environmentally sound disposal of solid, non-hazardous
industrial waste. With talented people and a national network of facilities,
Newalta serves customers in the automotive, forestry, lead, manufacturing,
mining, oil and gas, petrochemical, pulp and paper, refining, steel and
transportation service industries. Providing solid investor returns,
exceptional customer service, safe operations and environmental stewardship
has enabled Newalta to expand into new service sectors and geographic markets.
Newalta Income Fund's units trade on the TSX as NAL.UN. For more information,
visit www.newalta.com.





For further information:

For further information: Anne M. MacMicken, Director, Investor
Relations, Phone: (403) 806-7019


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