E.D. Smith Income Fund Announces Payment of Final Portion of Redemption Price

    TORONTO, Nov. 30 /CNW/ - E.D. Smith Income Fund (the "Fund") announced
today that the final portion of the redemption price for its outstanding
Units, amounting to $0.1206 per Unit will be paid on November 30, 2007 to
persons who were Unitholders of record on October 15, 2007. The final payment
is being made from the portion of the proceeds of sale of the Fund's assets
that was placed in escrow at the closing to cover unforeseen costs, expenses
and liabilities. As it was not necessary to utilize any of the escrow funds,
the full amount placed into escrow ($0.12 per Unit), plus accrued interest on
such amount ($0.0006 per Unit), will be released from escrow and paid to
Unitholders. The aggregate amount payable to each Unitholder in respect of
their Units will be rounded down to the nearest cent.

    %SEDAR: 00022102E

For further information:

For further information: Bruce Smith, Executive Vice President & CFO,
E.D. Smith Income Fund, Tel: (905) 643-1211 ext. 5220, bsmith@edsmith.com

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