Bird Construction Income Fund announces second quarter results and August, September and October distributions



    LISTING: TORONTO STOCK EXCHANGE
    SYMBOL: BDT.UN

    TORONTO, Aug. 8 /CNW/ - Bird Construction Income Fund today reported
results for the six months ended June 30, 2007.

    
    Highlights
    ($000 except per unit data - unaudited)

                                      Three months ended    Six months ended
                                                 June 30             June 30
                                      ------------------- -------------------
                                          2007      2006      2007      2006
                                      ------------------- -------------------
    Revenue:
      Construction                     178,200   127,944   306,752   238,795
      Investment income                    131       776       630     1,504
    Total revenues                     178,331   128,720   307,382   240,299
    Income before taxes                  9,995     6,383    15,768    10,484
    Net income                           7,990     5,428    13,340     8,639
    Earnings per unit                    $0.58     $0.39     $0.97     $0.66

    -   Construction revenue increased 28.5% to $306.8 million over the six
        months ended June 30, 2007 compared to $238.8 million for the six
        months ended June 30, 2006.
    -   Income before taxes increased 50.4% to $15.8 million for the six
        months ended June 30, 2007 compared to $10.5 million for the six
        months ended June 30, 2006.
    -   Net income increased 54.4% to $13.3 million for the six months ended
        June 30, 2007 compared to $8.6 million in the six months ended
        June 30, 2006.
    -   Working capital increased to $38.0 million as at June 30, 2007
        compared to $34.5 million as at December 31, 2006.
    -   Backlog increased to $883.7 million as at June 30, 2007 compared to
        $754.7 million as at March 31, 2007 and $464.7 million as at
        December 31, 2006.

     Bird Construction Income Fund also announced that its Board of Trustees
has approved its regular cash distributions for the months of August,
September and October 2007 in the amount of $0.0967 per unit each month to be
paid as follows;

    i)    the August distribution will be paid September 20, 2007 to the
          unitholders of record as of the close of business on August 31,
          2007;

    ii)   the September distribution will be paid October 19, 2007 to the
          unitholders of record as of the close of business on September 28,
          2007;

    iii)  the October distribution will be paid November 20, 2007 to the
          unitholders of record as of the close of business on October 31,
          2007;
    

    This press release contains forward-looking statements that involve a
number of risks and uncertainties because they relate to events and depend on
circumstances that will occur in the future. Many factors could cause actual
results and developments to differ materially from those expressed or implied
by these forward-looking statements.

    The Toronto Stock Exchange does not accept responsibility for the
    adequacy or accuracy of this release.





For further information:

For further information: P.A. Charette, Chairman and C.E.O., Bird
Construction Company Limited as Administrator of Bird Construction Income
Fund, 5405 Eglinton Avenue West, Suite 206, Toronto, ON, M9C 5K6, Phone: (4l6)
620-7122, Fax: (416) 620-1516

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Bird Construction Income Fund

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