HF. Eimskipafélag Islands and Versacold announce mailing of take-over-bid circular

    - Offer in connection with previously announced friendly all-cash deal -

    VANCOUVER and TORONTO, June 13 /CNW/ - The Board of Trustees of Versacold
Income Fund (TSX:ICE.UN) (the "Fund" or "Versacold") and Eimskip Holdings
Inc., an indirect, wholly-owned subsidiary of HF. Eimskipafélag Islands
("Eimskipafélag"), jointly announced today that on June 12, 2007 Eimskipafélag
mailed to unitholders of the Fund a take-over bid circular dated June 12, 2007
and related documents in connection with its previously announced offer (the
"Offer") to acquire all of the outstanding units of the Fund at a purchase
price of Cdn. $12.25 per unit in cash. Included in the package mailed to
unitholders is the trustees' circular prepared by the Fund's Board of Trustees
containing its unanimous recommendation that the Fund's unitholders accept the
Offer and tender their units the offer.
    Unitholders may also obtain a copy of the Offer materials at

For further information:

For further information: Eimskipafélag, Baldur Gudnason, President and
Chief Executive Officer, Stefan A. Magnusson, Chief Financial Officer, Dogg
Hjaltalin, Director - Investors Relations, HF. Eimskipafélag Islands,
Korngordum 2, 104 Reykjavik, Iceland, Telephone: +354-525-7000, Fax:
+354-525-7009, Website: www.ei.is; Versacold, Brent Sugden, President and
Chief Executive Officer, Roger Dall'Antonia, Vice President, Treasury and
Investor Relations, Versacold Income Fund, 2115 Commissioner Street,
Vancouver, British Columbia, V5L 1A6, Telephone: (604) 255-4656, Fax: (604)
255-4330, Website: www.versacold.com

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