Competition Tribunal Dismisses Competition Bureau's Application for More Time to Consider Labatt's Offer to Purchase All of the Outstanding Trust Units of Lakeport

    Labatt to Proceed With Acquisition of Lakeport Trust Units

    TORONTO and HAMILTON, ON, March 28 /CNW/ - Labatt Brewing Company Limited
("Labatt") and Lakeport Brewing Income Fund (TSX: TFR.UN) ("Lakeport") jointly
announced today that the Commissioner of Competition's application to the
Competition Tribunal for an order requesting an extended review period to
consider the proposed acquisition was dismissed.
    With the statutory waiting period under Part IX of the Competition Act
having expired, Labatt will proceed to acquire all of the issued and
outstanding trust units (the "Units") of Lakeport tendered as at the expiry
time of 5:00 p.m. (Toronto time) on March 29, 2007, subject to the
satisfaction of all of the other conditions of the offer. Labatt and Lakeport
encourage all unitholders to tender their Units to the offer prior to the
expiry time.

    About Labatt

    Founded in London, Ontario in 1847 and the proud brewer of more than 60
quality beer brands, Labatt is Canada's largest brewery.

    About Lakeport

    Lakeport Brewing Income Fund is an Ontario-based brewery focused on
producing value-priced quality beer for the Ontario market. Lakeport produces
nine proprietary beer brands, two of which, Lakeport Honey Lager and Lakeport
Pilsener, are among the top selling brands in the province. Lakeport has
approximately 200 full-time employees at its production facility in Hamilton,
Ontario. Lakeport's trust units trade on the TSX under the symbol TFR.UN (TFR
stands for 'two-four').

    For further information please see attached link:

For further information:

For further information: Freda Colbourne, Edelman Canada, (416)

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