Home Equity Income Trust Announces Third Quarter Conference Call

    TORONTO, Oct. 31 /CNW/ - Home Equity Income Trust (TSX: HEQ.UN) today
announced that it will hold a conference call to discuss its third quarter
financial results on November 6, 2007 at 10:30 a.m. (Eastern). The news
release announcing the results will be distributed earlier that day.
    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 416-642-5212 or
    A live audio webcast (listen-only mode) of the conference call will be
available at www.vcall.com and will be subsequently posted at www.homeq.ca.
    An archived recording of the call will be available at 1-866-244-4494
(conference ID 525029) from two hours after the completion of the call to
midnight November 8, 2007.

    Forward Looking Statements

    Home Equity Income Trust ("HOMEQ" or the "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 June 30, 2007, the portfolio generating cash
returns to the Trust comprised approximately 6,560 reverse mortgages with an
accrued value of $654.6 million, secured by residential properties across
Canada worth approximately of $1.8 billion. CHIP (www.chip.ca), has been the
main underwriter of reverse mortgages in Canada since pioneering the concept
in 1986.
    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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