Village Farms Income Fund Announces March Monthly Distribution



    
    TRADING SYMBOL: The Toronto Stock Exchange:
                    Village Farms Income Fund - VFF.UN
    

    VANCOUVER, March 21 /CNW/ - Village Farms Income Fund (the "Fund") (TSX:
VFF.UN) today declared a cash distribution of $0.01 per unit for the month
ending March 2007. The distribution will be paid on April 30, 2007 to
unitholders of record at the close of business on March 30, 2007. Unitholders
who are non-residents of Canada may be subject to withholding taxes in respect
of any distributions by the Fund.

    About Village Farms

    Village Farms is the largest producer, marketer and distributor of
premium-quality, greenhouse grown tomatoes, bell peppers and cucumbers in
North America. Village Farms operates sophisticated, highly intensive
agricultural greenhouse facilities in British Columbia, Texas and
Pennsylvania. It markets and distributes the premium product produced in these
facilities, as well as those produced under exclusive arrangements with other
greenhouse producers, predominantly in Mexico, under its Village Farms(R) and
Home Choice(R) brand names, primarily to retail supermarkets and dedicated
fresh food distribution companies. Village Farms markets and distributes
throughout the U.S., Canada and Mexico, and currently operates seven
distribution centres located across the U.S. and Canada.

    Restriction on Non-Resident Ownership

    The Declaration of Trust of the Fund contains provisions which prohibit
non-residents of Canada from owning more than 49.9% of the Units of the Fund
on a fully-diluted basis and give the Trustees of the Fund certain powers,
including the power to require non-residents to sell their Units if this
limitation is exceeded and the right to refuse to register transfers of units
to non-residents if such a situation is imminent. The Fund estimates that in
excess of 40% of its Units, on a fully-diluted basis, are held by
non-residents. Should non-residents acquire additional Units of the Fund, it
may be necessary for the Trustees to exercise their powers to require
non-resident Unitholders to sell their Units and/or to refuse Unit transfer to
non-residents. Accordingly, non-residents may determine that it is not
appropriate to acquire directly or indirectly Units of the Fund.

    Forward-Looking Statements

    This news release includes statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. The Fund cautions that actual performance will be affected by a
number of factors, many of which are beyond its control. Future events and
results may vary substantially from what the Fund currently foresees.





For further information:

For further information: Kenneth Hollander, Chief Financial Officer,
Tel: (732) 676-3008

Organization Profile

VILLAGE FARMS INCOME FUND

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