ACTIVEnergy Income Fund Completes Merger with ALBERTA Focused Income & Growth Fund

    TORONTO, Oct. 26 /CNW/ - Middlefield Group is pleased to announce the
successful completion, effective October 26, 2007 (the "Effective Date"), of
the previously announced merger of ACTIVEnergy Income Fund and ALBERTA Focused
Income & Growth Fund, with ACTIVEnergy being the continuing fund.
    As of the Effective Date, the combined total assets of the continuing
fund are approximately $300 million.
    Pursuant to the merger each ALBERTA unit held by ALBERTA unitholders was
automatically exchanged for 0.78214715 units of ACTIVEnergy, the continuing
fund. This exchange ratio was based on the relative net asset values, on an
unrounded basis, of ACTIVEnergy and ALBERTA as at the close of trading on the
Toronto Stock Exchange on October 25, 2007 which were approximately $10.07 per
unit and approximately $7.87 per unit, respectively. The merger was effected
on a tax-deferred "rollover" basis.
    Unitholders of ALBERTA are not required to take any action in order to be
recognized as a unitholder of ACTIVEnergy and to be in a position to trade
units of ACTIVEnergy on the Toronto Stock Exchange. Former ALBERTA unitholders
who wish to participate in the distribution reinvestment plan of ACTIVEnergy
will need to enroll in the ACTIVEnergy DRIP.
    Unitholders of ACTIVEnergy are not required to take any action as they
will automatically continue as unitholders of the continuing fund with each
unit of ACTIVEnergy equal to one unit of the continuing fund.
    The units of ACTIVEnergy trade on the Toronto Stock Exchange under the
symbol AEU.UN.

    This press release may contain forward-looking information, including
statements regarding fund assets resulting from the merger. These
forward-looking statements are subject to various risks and uncertainties that
could cause estimates to differ materially from the expectations expressed.
The forward-looking information contained in this press release constitutes
each fund's current estimate, as of the date of this press release, with
respect to the matters covered hereby. Investors and others should not assume
that any forward-looking statement contained in this press release represents
each fund's estimate as of any date other than the date of this press release.

For further information:

For further information: please visit our website at
or contact Nancy Tham, Senior Vice-President, at (416) 847-5349 or toll-free
at 1-888-890-1868

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ACTIVEnergy Income Fund

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