Aeroplan Announces Amendments to Proposed Long-term Incentive Plan For Groupe Aeroplan Inc.

    MONTREAL, June 11 /CNW Telbec/ - At its annual and special meeting to be
held on June 19, 2008 in Toronto, Aeroplan Income Fund (the "Fund", TSX:
AER.UN) will be submitting for approval certain minor revisions to the
proposed long-term incentive plan for Groupe Aeroplan Inc. ("Groupe
Aeroplan"). A copy of the proposed plan is set out in Appendix G to the
management information circular of the Fund dated May 16, 2008 and is
available on the Canadian Securities Administrators' web site,
    In response to comments received from RiskMetrics Group ("RMG") after the
mailing of the management information circular of the Fund, Groupe Aeroplan
has amended its proposed long-term incentive plan to expressly specify which
amendments will be permitted with board approval and which amendments will
require shareholder approval. A copy of the revised version of the long-term
incentive plan including the full text of the amendment is posted on our
website at
    Aeroplan has been informed that RMG will recommend that unitholders vote
in favour of the adoption of the amended long-term incentive plan at the
annual and special meeting to be held on June 19, 2008.

    Caution Concerning Forward-Looking Statements

    Certain statements in this news release may contain forward-looking
statements. Forward-looking statements, by their nature, are based on
assumptions and are subject to important risks and uncertainties. Any
forecasts or forward-looking predictions or statements cannot be relied upon
due to, amongst other things, changing external events and general
uncertainties of the business and its corporate structure. Results indicated
in forward-looking statements may differ materially from actual results for a
number of reasons, including without limitation, dependency on top
accumulation partners, Air Canada or travel industry disruptions, reduction in
activity, usage and accumulation of Aeroplan Miles, retail market or economic
downturn, greater than expected redemptions for rewards, industry competition,
supply and capacity costs, unfunded future redemption costs, changes to the
Aeroplan and Nectar Programs, seasonal nature of the business, regulatory
matters, VAT appeal, foreign ownership limitations and impact on mutual fund
trust status and value and liquidity of units, income tax matters, SIFT Rules,
conversion to corporate structure, as well as the other factors identified
throughout the MD&A. The forward-looking statements contained in this
discussion represent the Fund's expectations as of June 10, 2008, and are
subject to change after such date. However, the Fund disclaims any intention
or obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise, except as required
under applicable securities regulations.

    About Aeroplan Income Fund

    Aeroplan Income Fund is an unincorporated, open-ended trust established
under the laws of the Province of Ontario. Aeroplan Income Fund is the owner
of Aeroplan Limited Partnership, Canada's premier loyalty marketing company
and operator of the Aeroplan loyalty program and Loyalty Management Group
Limited, operator of Nectar, the United Kingdom's leading coalition loyalty
    For more information about Aeroplan, please visit
    %SEDAR: 00022208EF

For further information:

For further information: Media: Michèle Meier, (514) 205-7028,; JoAnne Hayes, (416) 352-3706,; Analysts: Trish Moran, (416) 352-3728,

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