Rhone 2004 Flow-Through LP - Additional Income Tax Deductions



    VANCOUVER, March 20 /CNW/ - During 2006, Rhone 2004 Flow-Through Limited
Partnership (the "Partnership") liquidated its investment portfolio and
distributed $33.33 per Unit to Limited Partners. (This compares to an initial
investment cost of $25.00 per Unit in 2004). On December 29, 2006 the
Partnership was dissolved.
    In connection with their past investment in Units of the Partnership,
investors have received or will receive a T5013 from his or her investment
advisor. This form will provide investors with tax information that they
require for the Partnership for the period from January 1, 2006 to
December 29, 2006.
    Please take note however, that the T5013 does not provide investors with
certain information concerning additional income tax deductions available for
2006 and each of the next four years. These deductions are related to the
issue costs and borrowing costs incurred by the Partnership in 2004. These
deductions are summarized as follows:

    
                                2006      2007      2008      2009      2010

    Deduction per Unit      $0.53701  $0.53701  $0.53701  $0.50749  $0.50000
    

    Simply multiply the number of Units of the Partnership that were
originally purchased, by the additional deduction amount per Unit. The product
is the amount available to be deducted. For example, if an investor originally
purchased 1,000 Units, he or she is entitled to deduct 1,000 x $0.53701 =
$537.01 for 2006.
    With respect to reporting this deduction for individual Limited Partners,
the amount should be reported on Schedule 4 of the personal income tax return,
on line 122 and described as 20(1)(e)(vi)(B)financing costs.

    The deductions described herein are available to investors irrespective
of the fact that the Partnership has been dissolved. However, in the event
that an investor disposed of his or her Units prior to the Partnership's
dissolution on December 29, 2006, then they are NOT entitled to the additional
income tax deductions. Limited Partners are strongly encouraged to obtain
independent professional advice with respect to their own particular tax
circumstances.

    %SEDAR: 00020508E




For further information:

For further information: Rhone Alternative Investment Products, Jack
Muir, Tel: (604) 891-8782

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RHONE 2004 FLOW-THROUGH LIMITED PARTNERSHIP

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