George Armoyan announces additional investment in Terravest Income Fund

TORONTO, Jan. 18, 2012 /CNW/ - On January 18, 2012, George Armoyan acquired 179,200 units of Terravest Income Fund ("Terravest") at a price of $1.85 per unit, representing 0.9% of the outstanding units of Terravest. Immediately after the transaction, Mr. Armoyan owns 2,591,900 units representing 13.1% of the outstanding units.

On an aggregate basis, Mr. Armoyan and members of his family with whom he resides own 2,635,900 units representing 13.4% of the outstanding units.

Mr. Armoyan purchased the units through the facilities of the Toronto Stock Exchange for investment purposes. Mr. Armoyan and members of his family with whom he resides may acquire additional securities of Terravest, dispose of some or all of the existing or additional securities of Terravest, or continue to hold securities of Terravest in the normal course of their investment activities. The issuance of this news release does not constitute an admission by any of such parties that they are acting jointly or in concert with respect to securities of Terravest.

George Armoyan
TD Canada Trust Tower
161 Bay Street, Suite 2400
P.O. Box 217, Toronto, ON, M5J 2S1
t: [phone]
f: [phone]