Custom Direct Income Fund Announces April 2007 Distribution, Issuance of Annual Report, and Timing for Quarterly Earnings Release

    TSX Symbol - CDI.UN

    TORONTO, April 18 /CNW/ - Custom Direct Income Fund (the Fund), a direct
marketer and leading U.S. direct-to-consumer cheque provider, announced today
a cash distribution for the month of April, the issuance of the Fund's annual
report, and the timing for the Fund's first quarter 2007 earnings release and
conference call.

    Cash Distribution
    Custom Direct will pay a cash distribution of C$0.1125 per unit for the
month of April 2007 payable on May 15, 2007 to unitholders of record at the
close of business on April 30, 2007. Custom Direct Income Fund's policy is to
pay monthly distributions to unitholders of record on the last business day of
each month.
    Holders of units who are non-residents of Canada will be required to pay
all withholding taxes payable in respect of any distributions of income by the
Fund. The Fund's distributions are net of withholding taxes based on Canadian
and U.S. withholding tax rules. For this cash distribution, 75% of the total
distribution of C$0.1125 per unit, or C$0.0843 per unit, has been allocated as
interest income and may be considered a U.S. source of interest income and,
accordingly, may be subject to U.S. withholding taxes. For a registered
Canadian unitholder who has not delivered a valid, completed Form W8-BEN (Form
W-9 if a U.S. unitholder), the U.S. withholding tax would be 30% of the 
C$0.0843. If a valid, completed W8-BEN Form has been delivered, the
withholding tax would be at a reduced rate of withholding, or may be reduced
to zero if the unitholder also does not hold 10% or more of the Fund.

    Annual Report
    On March 28, 2007, Custom Direct issued the Fund's annual report for the
year ended December 31, 2006. The report is available:

    -   at the website,
    -   at the website,
    -   via email to, or
    -   via phone call to 866-712-7096.

    Earnings Release
    Custom Direct will release earnings for the first quarter of 2007 on
Wednesday, April 25, 2007.

    Conference Call
    Custom Direct will discuss its financial results for the first quarter of
2007 via conference call on Thursday, April 26, 2007 at 11:00 a.m. EST. The
following listing provides access information for the call, and for phone and
web rebroadcasts:

    Conference Call:
    Dial-in number:          800-762-7141 (U.S.)
    Confirmation number:     870969

    Rebroadcasts - Phone and Web:
    Dial-in number:          800-475-6701 (U.S.)
    Access code:             870969
    Available through:       May 26, 2007

    Company Information
    Custom Direct Income Fund indirectly holds 100% of the shares of common
stock of Custom Direct. Based in Maryland and Arkansas, Custom Direct has been
selling cheques, cheque-related accessories, and other products and services
directly to consumers across the United States since 1992, and offers the
industry's widest selection of cheque designs. Custom Direct is a direct
marketer and the second largest participant in the direct-to-consumer segment
of the U.S. cheque industry.
    Further information can be found in the disclosure documents filed by
Custom Direct Income Fund with the Canadian securities regulatory authorities,
available at

For further information:

For further information: Brian D. Briggs, Senior Vice President-Finance
and Chief Financial Officer,, (866) 712-7096,, TSX Symbol - CDI.UN

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