E.D. Smith Income Fund provides an update on rectification process and reschedules special meeting of unitholders



    WINONA, ON, Aug. 20 /CNW/ - E.D. Smith Income Fund (TSX: JAM.UN) today
announced that the hearing date on the rectification order which was
originally set for August 24th, 2007 has been delayed until mid-September. As
a result, the Board of Trustees, after consultation with its advisors and the
Purchaser, has rescheduled the special meeting of unitholders called for
September 27, 2007 to October 11, 2007. The special meeting was called to
consider a special resolution approving the sale of all of the indirect
operating investments of the Fund to a subsidiary (the "Purchaser") of
TreeHouse Foods, Inc. ("TreeHouse") pursuant to a purchase and sale agreement
made between the Fund, E.D. Smith Limited Partnership and E.D. Smith Operating
Trust, and the Purchaser and TreeHouse.
    The postponement of the special meeting will not delay the closing of the
transaction, which is currently anticipated to occur in October 2007.

    About E.D. Smith Income Fund

    E.D. Smith Income Fund is an unincorporated, open-ended, limited purpose
trust that owns E.D. Smith & Sons, Limited and its subsidiaries. E.D. Smith is
a leading manufacturer of a broadly diverse portfolio of high quality branded
and private label food products. E.D. Smith, founded in 1882, markets and
distributes its products to the food retail and foodservice markets in Canada
and the U.S. The Company's products range from fruit-based products, which
include jams (including preserves, jellies, marmalades and spreads), pie
fillings, and ketchup, to sauces, which include pasta sauces, salsa, barbeque
sauces, specialty sauces and syrups, to pourable and spoonable salad dressings
and marinades.

    About TreeHouse Foods, Inc.

    TreeHouse is a food manufacturer servicing primarily the retail grocery
and foodservice channels. Its products include pickles and related products;
non-dairy powdered coffee creamer; private label soup and infant feeding
products, salsa, Mexican sauces and other food products including aseptic
sauces, refrigerated salad dressings, and liquid non-dairy creamer. TreeHouse
believes it is the largest manufacturer of pickles and non-dairy powdered
creamer in the United States based on sales volume.
    For further information about E.D. Smith, please visit our Internet site
at www.edsmith.com.

    Forward-Looking Statements

    This press release contains "forward-looking information".
Forward-looking information includes, but is not limited to, statements with
respect to the products offered by E.D. Smith, Seaforth Creamery Inc. and the
combined business, their respective business strengths and relations with
suppliers and expected future EBITDA. In certain cases, forward-looking
information can be identified by the use of words such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain actions, events
or results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking information. Such
factors include, among others, the successful integration of acquisitions, the
financial performance of the combined business, competitive forces, the
absence or non-renewal of long-term customer contacts, the absence of
guaranteed supply agreements, factors affecting the supply and price of raw
materials, changes to its product offerings and the market in which they are
sold, government regulation, and other operating hazards. Although the Fund
has attempted to identify important factors that could cause actual actions,
events or results to differ materially from those described in forward-looking
information, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no assurance
that forward-looking information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such
statements. Accordingly, investors should not place undue reliance on
forward-looking information. Forward-looking information is provided as of the
date of this press release, and the Fund assumes no obligation to update or
revise them to reflect new events or circumstances.

    %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;
Trevor Heisler, Investor Relations, The Equicom Group Inc., Tel: (416)
815-0700 ext. 270, theisler@equicomgroup.com

Organization Profile

E.D. SMITH INCOME FUND

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