CI Financial announces private placement of trust units

    TSX Symbol: CIX.UN

    TORONTO, June 22 /CNW/ - CI Financial Income Fund ("CI") today announced
that it has completed the sale of 3.7 million trust units from treasury by way
of two private placements.
    The units were sold at a price of $28.67 each, and the proceeds are to be
used to pay down debt. CI's debt recently increased as a result of its
acquisition of Rockwater Capital Corporation. The issuance has increased CI's
total number of units outstanding to 286.3 million.
    Out of the total issuance, 2.3 million trust units were sold to Sun Life
Financial Inc. ("Sun Life"). This brings Sun Life's ownership of CI units to
104.6 million units or approximately 36.5%, which is the percentage ownership
Sun Life had before the Rockwater acquisition. The other 1.4 million trust
units were sold to another financial institution.
    CI Financial Income Fund is an independent, Canadian-owned wealth
management company with approximately $99.5 billion in fee-earning assets as
of May 31, 2007. CI offers a broad range of investment products and services,
including an industry-leading selection of investment funds. CI is on the Web

For further information:

For further information: William T. Holland, Chief Executive Officer, CI
Financial, (416) 364-1145

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