Acquisition of Additional Units of Rainmaker Income Fund

    VANCOUVER, March 3 /CNW/ - McElvaine Investment Management Ltd. ("MIML"),
a privately-owned Vancouver-based portfolio manager, announced that it has
acquired, on behalf of The McElvaine Investment Trust and McElvaine Fund Ltd.,
a total of 1,401,228 units of Rainmaker Income Fund ("Rainmaker"),
representing 7.98% of the issued and outstanding units. McElvaine Investment
Management Ltd. is the portfolio advisor of The McElvaine Investment Trust and
McElvaine Fund Ltd., investment funds offered to investors on a private
placement basis pursuant to exemptions from prospectus and dealer registration
requirements under applicable securities laws. Tim McElvaine, the President
and majority shareholder of MIML, is a member of the Board of Trustees of
    As a result of these transactions, MIML and Mr. McElvaine, who also
personally owns 50,000 units of Rainmaker, now control a total of
5,501,228 units of Rainmaker, representing 32.04% of the issued and
outstanding units of Rainmaker. This represents an increase of 1,401,228
units, representing 7.98% of the outstanding units, from the holdings
previously reported by MIML in December 2007. These units were acquired by
MIML, on behalf of The McElvaine Investment Trust and McElvaine Fund Ltd.,
under the terms of private agreements with the vendors for a purchase price of
CDN$2.50 per unit.
    The units referred to in this press release were acquired by MIML in the
ordinary course of business, for investment purposes on behalf of client
accounts over which it has discretionary trading authority and not for the
purpose of exercising control or direction over Rainmaker. MIML may from time
to time on its own behalf or on behalf of its client accounts, acquire
additional units, dispose of some or all of the existing or additional units
or may continue to hold the units referred to in this press release.

For further information:

For further information: Tim McElvaine, McElvaine Investment Management
Ltd., Telephone: (604) 601-8345, Facsimile: (604) 601-8346, Email:

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