Superior Plus Announces a 4% Increase in Cash Distribution and Suspension of the Distribution Reinvestment Program



    TSX: SPF.UN

    CALGARY, Feb. 28 /CNW/ -

    March 2008 Cash Distribution - $0.135 per Trust Unit
    ----------------------------------------------------
    Superior Plus Income Fund (the "Fund") today announced a 4% increase of
$0.005 per trust unit in its cash distribution for the month of March 2008 of
$0.135 per trust unit payable on April 15, 2008. The record date is March 31,
2008 and the ex-distribution date will be March 27, 2008. The Fund's
annualized cash distribution rate is expected to be $1.62 per trust unit.
    For tax purposes, the distributions are expected to substantially be
taxable as "other income" to Unitholders. A summary of cash distributions
since inception and tax information is posted under the Investor Information
section of the Fund's website at: www.superiorplus.com.

    DRIP
    ----
    The Fund also announces that it is suspending its Distribution
Reinvestment Plan ("DRIP"). Superior achieved strong performance from all of
its businesses in 2007 resulting in surplus cashflow, declining debt levels
and a lower than targeted payout ratio. The Fund continues to have a positive
outlook and considers this program to be dilutive at this time. The DRIP will
be available for the Fund's February monthly distribution payable on March 14,
2008, but will not be available for future monthly distributions of the Fund
until further notice. Accordingly, the DRIP will not be available commencing
with the Fund's March 2008 distribution payable on April 15, 2008. Unitholders
of the Fund who are participants under the DRIP should refer to the Fund's
website (www.superiorplus.com) for further information regarding the
suspension of the DRIP.

    About Superior Plus and the Fund
    --------------------------------
    Superior Plus Income Fund is a diversified business trust. The Fund holds
100% of Superior Plus LP, a limited partnership formed between Superior Plus
Inc., as general partner and the Fund as limited partner. Superior Plus is
focused on stability of distributions with value growth and has four Canadian
based operating divisions: Superior Propane is Canada's largest distributor of
propane, related products and services; ERCO Worldwide is a leading supplier
of chemicals and technology to the pulp and paper industries and a regional
Midwest supplier of chloralkali and potassium products; Winroc is a leading
distributor of walls and ceilings construction products in North America; and
Superior Energy Management provides fixed-price natural gas supply services in
Ontario, Quebec, and British Columbia along with fixed-price electricity
supply services in Ontario.
    The Fund's trust units and convertible debentures trade on the Toronto
Stock Exchange as follows:

    
    Trading
     Symbol     Security                     Issued and Outstanding
    -------------------------------------------------------------------------
    SPF.un      Trust Units                    87.9 million
    SPF.db.b    5.75% Debentures, Series 1   $174.9 million principal amount
    SPF.db.c    5.85% Debentures, Series 1   $ 75.0 million principal amount
    -------------------------------------------------------------------------
    





For further information:

For further information: about Superior Plus, please visit our website
at: www.superiorplus.com or contact: A. Scott Daniel, Vice-President,
Treasurer and Investor Relations, Tel: (403) 218-2953, Fax: (403) 218-2973,
E-mail: sdaniel@superiorplus.com, Toll Free: 1-866-490-PLUS (7587); or with
respect to DRIP inquiries, Leanne Likness, Corporate Secretary, Tel: (403)
218-2954, Fax: (403) 218-2973, E-mail: llikness@superiorplus.com

Organization Profile

SUPERIOR PLUS CORP.

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