General Donlee Income Fund Announces July 2007 Distribution

    TORONTO, Aug. 15 /CNW/ - General Donlee Income Fund (TSX: GDI.UN)
announced today that it has declared a cash distribution of $ 0.09 per unit
for the month of July 2007, payable on August 31, 2007 to Unitholders of
record at the close of business on August 28, 2007. The ex-distribution date
for the July distribution is August 24, 2007.
    General Donlee Income Fund pays cash distributions to Unitholders near
month end, for the prior month, with a record date, usually three business
days earlier. 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.

    General Donlee Income Fund is a trust established to hold the securities
of General Donlee Limited, which is a leading diversified manufacturer of
precision-machined products for the military, commercial and general aerospace
industries and also is a specialist in the manufacture of precision-machined
products for the industrial products and power generation industries.

    Certain forward-looking statements contained in this news release are
based on information, currently available to management, but are subject to a
number of uncertainties and risks that could cause actual results to differ
materially from the results discussed in the forward-looking statements. These
uncertainties and risks include, but are not limited to: dependence on
commercial aircraft sales and defence procurement, power generation sales and
sales to the industrial sector, production rates, timing of deliveries,
dependence on key customers, dependence on third party suppliers and
manufacturers, competition, product liability and warranty claims,
environmental and other government regulation, quality certification
requirements, hedging effects, interest and foreign exchange rates, leverage
and restrictive debt covenants, continued availability of credit facilities,
insurance availability and coverage, regulatory requirements, reliance on key
personnel and our skilled workforce, changes in accounting policies, the
ability to obtain orders and domestic and international economic conditions.
Further information can be found in the disclosure documents filed by General
Donlee Income Fund with the securities regulatory authorities, available at or through the Fund's website at

    %SEDAR: 00017571E

For further information:

For further information: Gerald Thain, Chief Financial Officer,
Telephone: (416) 743-4417, E-mail:, Web site:

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