Cargojet - Boeing 757-200ER Enters the Freighter Fleet

    TORONTO, Aug. 6 /CNW/ - Cargojet Income Fund (the "Fund") (TSX: CJT.UN),
Canada's leading domestic premium overnight air cargo network, announced today
that it's first Boeing 757-200 Extended Range Freighter Aircraft has joined
it's fleet of thirty-three aircraft.
    This aircraft is capable of uplifting a maximum cargo payload of 80,500
pounds. This represents an increase in payload of 33% with a 13% decrease in
fuel burn, as compared to the current B727-200 Advanced Freighter Aircraft.
    "We are very excited to be the first and only Canadian air cargo operator
to introduce this newer generation, more fuel efficient environmentally
friendly and long range aircraft to our fleet. The addition of this aircraft
type will allow us to maximize the efficient deployment of capacity on our
core domestic overnight network and to further expand into selected
international markets," says Ajay K. Virmani, President and CEO of the Fund.
    "We are an organization who continually improves our network capabilities
by providing our customers with value added services," says Jamie Porteous,
Executive Vice President Sales and Service.
    The aircraft arrived at Hamilton International Airport on Tuesday, August
5, 2008 and is planned to enter revenue service later this month. This is a
major step towards Cargojet's ongoing aircraft fleet renewal and growth plans.

    Cargojet is Canada's leading provider of time sensitive overnight air
cargo services. Cargojet operates its network across North America,
transporting over 885,000 pounds of time sensitive air cargo each business
night, utilizing a fleet of thirty-three all cargo aircraft.

    Notice on Forward Looking Statements:

    Certain statements contained herein constitute "forward-looking
statements". Forward-looking statements look into the future and provide an
opinion as to the effect of certain events and trends on the business.
Forward-looking statements may include words such as "plans," "intends,"
"anticipates," "should," "estimates," "expects," "believes," "indicates,"
"targeting," "suggests" and similar expressions. These forward-looking
statements are based on current expectations and entail various risks and
uncertainties. Reference should be made to the issuer's most recent Annual
Information Form filed with the Canadian securities regulators, and its most
recent Annual Consolidated Financial Statements and Quarterly Financial
Statements and Notes thereto and related Management's Discussion and Analysis
(MD&A), for a summary of major risks. Actual results may materially differ
from expectations, if known and unknown risks or uncertainties affect our
business, or if our estimates or assumptions prove inaccurate. The issuer
assumes no obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or any other reason,
other than as required by applicable securities laws. In the event the issuer
does update any forward-looking statement, no inference should be made that
the issuer will make additional updates with respect to that statement,
related matters, or any other forward-looking statement.

    %SEDAR: 00022068E

For further information:

For further information: P. Dhillon, Vice President Marketing, Public &
Government Relations, Tel: (905) 501-7373,

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