Cargojet adds Boeing 767-200ER to freighter fleet

    TORONTO, Jan. 8 /CNW/ - Cargojet Income Fund (the "Fund") (TSX: CJT.UN),
Canada's leading domestic premium overnight air cargo network operator, today
announced plans to add two Boeing 767-200 Extended Range Freighter Aircraft to
its fleet.
    These aircraft have a maximum structural payload of 100,000lbs, an
increase of 67% as compared to the current B727-200 Advanced Freighter
Aircraft and will allow further expansion with a maximum range of
5000 nautical miles.
    "We are very excited to be the first Canadian air cargo operator to
introduce these newer generation, longer range, and more fuel efficient
aircraft to our fleet. The addition of these aircraft will allow us to
continue to meet the growing requirements of our domestic overnight network
and continue to provide value added services to our customers. This will also
allow Cargojet to further expand into selected international markets," says
Ajay K. Virmani, President and CEO of the Fund.
    Bill Tarpley, Chief Operating Officer at Cargo Aircraft Management Inc.,
a subsidiary of Cargo Holdings International (CHI), Inc., of Orlando, Florida
stated, "CAM is very excited to be part of Cargojet's expansion into the 767
freighter aircraft. This lease arrangement between CAM and Cargojet further
illustrates our commitment to lease transactions with air carriers outside of
the CHI family."
    These aircraft are tentatively scheduled to be introduced into service in
the second and third quarter of 2008. The addition of this aircraft type is a
major step in Cargojet's ongoing aircraft fleet renewal and cargo growth

    Cargojet is Canada's leading provider of time sensitive overnight air
cargo services. Cargojet operates its network across North America
transporting over 840,000 pounds of time sensitive air cargo each business
night, utilizing a fleet of twenty all cargo aircraft.

    %SEDAR: 00022068E

For further information:

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

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