Golf Town Income Fund announces filing of notice of special meeting and management information circular

    TORONTO, Aug. 28 /CNW/ - Golf Town Income Fund (TSX:GLF.UN) (the "Fund")
announced today that it has filed with the Canadian securities regulatory
authorities the notice of the special meeting and management information
circular in connection with the previously announced special meeting of its
unitholders. At the special meeting unitholders will be asked to consider, and
if thought appropriate, approve a special resolution authorizing: (a) the sale
of all of the indirect operating investments of the Fund by Golf Town Limited
Partnership (the "Partnership") to OCPI Golf Inc. ("OCPI") pursuant to the
Transaction Agreement dated August 10, 2007 made among OCPI, OMERS Capital
Partners Inc., the Fund and the Partnership; (b) amendments to the Declaration
of Trust of the Fund to, among other things, provide for the redemption of
units by the Fund, and the use of available cash to distribute income, gains
and capital and to redeem the units of the Fund; and (c) amendments to the
Limited Partnership Agreement of the Partnership and the Declaration of Trust
of Golf Town Operating Trust (the "Trust"). OCPI's obligations under the
Transaction Agreement are guaranteed by OMERS Capital Partners Inc., the
entity responsible for the private equity investments of OMERS Administration
Corporation ("OMERS"). OMERS is one of Canada's largest pension plans, with
more than $48 billion in assets invested around the globe in publicly-traded
investments, real estate, infrastructure and private equity.
    The special meeting of unitholders will be held at 10:00 am (Toronto
Time) on September 21, 2007 at The Board of Trade, 1 First Canadian Place,
Toronto, Ontario, Meeting Rooms A-D. Unitholders as at the close of business
on August 21, 2007, the record date for the special meeting, are being sent
the meeting materials and will be entitled to vote at the special meeting.
    The management information circular contains, among other things, the
unanimous recommendation of the board of trustees of the Fund (other than
those trustees who are members of senior management of Golf Town Canada Inc.
and not eligible to vote in respect of the proposed transaction) that
unitholders of the Fund vote in favour of the proposed transaction. The
management information circular also contains information concerning the
process leading up to the execution and delivery of the Transaction Agreement
with OCPI, the reasons for the transaction, and the Fund's intention with
respect to the distribution of the sale proceeds, the redemption of the Fund's
outstanding units and the termination of the Fund, the Trust and the
    Unitholders are urged to carefully read the management information
circular. Unitholders of the Fund may obtain a copy of the management
information circular (when available) on the SEDAR website at
The management information circular is expected to be mailed to unitholders of
the Fund in accordance with applicable securities laws on or about August 29,
    Assuming Unitholders approve the Special Resolution, the transaction with
OCPI is scheduled to close upon satisfaction of all other conditions
precedent, including receipt of regulatory approvals, in late September, 2007.

    %SEDAR: 00021322E

For further information:

For further information: Michael Rousseau, Chairman of the Special
Committee, (416) 577-6138

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