Coast Wholesale Appliances Income Fund confirms transfer of units held for management to blind trust

    TRADING SYMBOL: Toronto Stock Exchange - CWA.UN

    VANCOUVER, June 28 /CNW/ - Coast Wholesale Appliances Income Fund (the
Fund) today announced that it had been informed of the transfer of 110,445
previously issued units in the Fund held by CWAL Investments Ltd. to a blind
trust on behalf of senior management of Coast Wholesale Appliances. As
described in the Fund's prospectus dated June 15, 2005 and filed in
conjunction with its initial public offering, these units will be held in
trust for a period of three years. At the end of that time, the units will be
distributed to designated senior management, provided that they have remained
employees of Coast. This private transaction will not have any impact on
distributable cash per unit or have any dilutive impact on unitholders.

    Coast Wholesale Appliances Income Fund is an unincorporated, open-ended
limited purpose trust launched on June 23, 2005 with the completion of an
initial public offering of 6,525,000 trust units. The Fund was created to
acquire and hold a 65% indirect interest in Coast Wholesale Appliances LP
(Coast), a leading independent supplier of major household appliances to
developers and builders of multi-family and single-family housing, and to
retail customers in Western Canada. Founded in 1978, Coast operates 15 branch
locations and four warehouse distribution centres across the four western

For further information:

For further information: Jack Peck, Chief Financial Officer, Telephone:
(604) 301-3400 or, Website:

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