Cargojet Announces New Trustee

    TORONTO, Nov. 30 /CNW/ - Cargojet Income Fund (the "Fund") (TSX: CJT.UN)
announced today the appointment of Mr. Jonathon Carroll as a Trustee. He will
replace Mr. Craig Baxter, who will be retiring from the Board effective
November 30, 2007. "It has been a pleasure working the Cargojet team as they
continue to build their leadership position in the air cargo business. I
regret that due to other demands, I will not be able to be part of the great
future Cargojet is building, " said Mr. Baxter.
    "Craig's commitment and valuable insights have been significant to
Cargojet's growth strategy over the years. He has been an extremely valuable
and integral member of the Board of Trustees of the Fund. On behalf of the
entire Cargojet family, I sincerely thank Craig for his past contributions to
our organization," said Ajay Virmani President and CEO of the Fund. "We
welcome Jonathan in his new role as Trustee and will seek his guidance and
contributions to the continued growth of Cargojet," adds Virmani.
    "I am honoured to be joining the leaders of Cargojet in the capacity as
its newest board member. The Cargojet name and the team that drives the
organization has a proven success record that speaks for itself, with a solid
commitment to achieving the highest standards of excellence in all that they
deliver. It is fully my intention to contribute and assist with maintaining
this mandate, and I am extremely grateful for this wonderful opportunity,"
said Jonathan Carroll, President of Itravel 2000, Canada's leading travel

    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,

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