Gamehost Income Fund announces regular monthly and special year end distributions

    Gamehost Income Fund (TSXV: GH.UN)

    RED DEER, AB, Dec. 17 /CNW/ - Gamehost Income Fund has declared a regular
cash distribution for the month of December 2007 of $0.20 per trust unit. In
addition, the Fund has declared a special year end distribution of $1.12 per
trust unit. The combined distributions of $1.32 per trust unit will be paid on
January 15, 2008 to unitholders of record on December 31, 2007. The
ex-distribution date is December 27, 2007.
    With this announcement, distributions declared for 2007 total $3.47 per
trust unit compared to $2.78 per trust unit for 2006. This represents a
25% increase in total cash distributions over 2006.
    Strong organic revenue growth and continued improvement in operating
margin percentages coupled with the Fund's conservative monthly payout ratio
resulted in the build up of surplus cash available for distribution in 2007.
    Darcy Will remarks "Again, we are pleased to be able to reward our
unitholders for their continued faith in us by making a special distribution
at this special time of the year, Christmas."
    It is the intention of the Fund trustees to distribute sufficient income
from the Fund so that the Fund will not have any liability for tax under Part
I of the Income Tax Act. The Fund's mandate is to make consistent monthly cash
payments to unit holders based on management's projections of the year's
distributable cash from operations.
    The Fund is conservative in the monthly payout ratio of cash
distributions to distributable cash from operations throughout the year. This
allows the Fund to perform capital maintenance during the year, allows for the
reduction of revolving loan balances and their associated interest costs and
provides a reserve for opportunities or needs that may arise throughout the

    This press release may contain forward-looking statements.
Forward-looking statements may contain words such as "anticipates",
"believes", "could", "expects", "indicates", "plans" or other similar
expressions that suggest future outcomes or events. Use of these statements
reflect reasonable assumptions made on the basis of management's current
beliefs with information known by management at the time of writing. Many
factors could cause actual results to differ from the results discussed in
forward-looking statements. Actual results may not be consistent with these
forward-looking statements.

    The Fund is an unincorporated open-ended limited purpose trust
established under the laws of the Province of Alberta. The Fund's activities
are currently confined to the Province of Alberta, Canada. Operations include
the Boomtown Casino in Ft. McMurray, the Great Northern Casino, Service Plus
Inns & Suites and a strip mall all located in Grande Prairie. The Fund is also
a 40% joint venture partner in Deerfoot Inn & Casino Inc. in Calgary.

    For additional disclosure on the Fund, please go to the company's website
at or to SEDAR at

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    %SEDAR: 00019487E

For further information:

For further information: Investor Relations: Telephone: (403) 346-4545,
Fax: (403) 340-0683, Email

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