Cargojet Income Fund Announces Distribution

    TORONTO, Aug. 22 /CNW/ - Cargojet Income Fund (the "Fund") (TSX: CJT.UN)
announced today a cash distribution of $0.0964 per unit for the period from
August 1, 2007 to August 31, 2007. The distribution will be paid to
unitholders of record at the close of business on August 31, 2007 and will be
payable on or before September 15, 2007.
    For those unitholders holding units outside a tax deferred plan, the Fund
estimates that 94% of the distributions made in 2007 will be treated as
taxable income and the balance as a return of capital. The proportion of these
figures may change when the actual results for the fiscal year are calculated.

    Cargojet Holdings Ltd. is Canada's leading provider of time sensitive
overnight air cargo service. Cargojet operates its network from coast to coast
transporting over 550,000 pounds (249 tonnes) of volumetric time sensitive air
cargo to thirteen major cities in Canada each business night.

    %SEDAR: 00022068E

For further information:

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

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