Home Equity Income Trust Announces Second Quarter Conference Call

    TORONTO, July 25 /CNW/ - Home Equity Income Trust (TSX: HEQ.UN (HOMEQ or
Trust)), which pays cash distributions earned from a portfolio of reverse
mortgages originated by Canadian Home Income Plan (CHIP), today announced that
it will hold a conference call to discuss its second quarter financial results
on August 6, 2008 at 10:00 a.m. (Eastern). The news release announcing the
results will be distributed after markets close on August 5th.
    Available to answer questions on the call will be Steven Ranson,
President and Chief Executive Officer, and Gary Krikler, Senior Vice President
and Chief Financial Officer.
    To participate in the conference call, please dial 1-888-892-3255.
    A live audio webcast (listen-only mode) of the conference call will be
available at www.homeq.ca.
    An archived recording of the call will be available at 1-800-937-6305
(conference ID 859705).

    Forward Looking Statements

    Home Equity Income Trust from time to time makes written and verbal
forward-looking statements about business objectives, operations, performance,
and financial condition, including, in particular, the forecast of cash
distributions and the likelihood of HOMEQ's success in developing and
expanding its business. These may be included in the Annual Reports,
regulatory filings, reports to unitholders, press releases, Trust
presentations and other communications. These forward-looking statements are
based upon a number of assumptions and estimates that are inherently subject
to significant uncertainties and contingencies, many of which are beyond the
control of HOMEQ. Actual results may differ materially from those expressed or
implied by such forward-looking statements. HOMEQ does not undertake to update
any forward-looking statement, whether written or verbal, that may be made
from time to time.

    About Home Equity Income Trust

    Home Equity Income Trust provides unitholders with stable monthly cash
distributions from a portfolio of reverse mortgages originated by its wholly
owned subsidiary Canadian Home Income Plan Corporation. The Trust's units are
rated SR-2 by Standard and Poor's, which assigns this rating to funds that
have "a very high level of cash distribution stability relative to other rated
Canadian income funds." As of March 31, 2008, the portfolio generating cash
returns to the Trust comprised approximately 6,800 reverse mortgages with an
accrued value of $738 million, secured by residential properties across Canada
worth approximately of $2.1 billion. CHIP (www.chip.ca), has been the main
underwriter of reverse mortgages in Canada since pioneering the concept in
    The Trust's units trade on the Toronto Stock Exchange under the symbol
HEQ.UN. Additional information on HOMEQ, including annual and quarterly
reports and the Trust's distribution reinvestment plan, can be viewed at

    %SEDAR: 00018040E

For further information:

For further information: Gary Krikler, Senior Vice President and Chief
Financial Officer, (416) 413-4679, gkrikler@homeq.ca, or Scott Cameron, Vice
President, Finance, (416) 413-6605, scameron@homeq.ca

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