IAT Air Cargo Facilities Income Fund

    RICHMOND, BC, Sept. 25 /CNW/ - IAT Air Cargo Facilities Income Fund (the
"Fund") (TSX: ACF.UN) today reviewed a news release issued by Mercury Real
Estate Advisors LLC ("Mercury") early this morning referring to a letter from
Mercury to the Fund urging an exploration of strategic alternatives and a
potential sale of the Fund's operating subsidiary, International Aviation
Terminals Inc. ("IAT"). The Fund has not yet received the letter referenced in
the news release but the Board of Trustees of the Fund (the "Trustees")
intends to consider the Mercury letter.
    The Trustees of the Fund regularly consider appropriate strategic
alternatives to enhance and maximize unitholder value, including those raised
by Mercury in its news release, in the course of carrying out their fiduciary
responsibilities. As previously announced, the Fund is currently considering
potential growth opportunities, including investments in both fee simple
industrial property and on-airport cargo facilities.

    The Fund is a limited purpose trust that owns all of the shares of IAT,
which owns and leases air cargo and aviation related buildings at Canadian
airports in Vancouver, Calgary, Edmonton, Saskatoon and Winnipeg. The Fund and
IAT specialize in the ownership, construction, management and marketing of
aviation-related facilities. IAT currently owns and manages approximately
1.1 million square feet of air cargo and aviation related facilities at five
of Canada's leading international airports. Approximately 65% of the Fund and
IAT's holdings are located at Vancouver International Airport, Canada's second
largest airport.

including statements with respect to future growth opportunities, transactions
and investments, ongoing business strategies or prospects, possible future
Fund and IAT actions and other measures are based on information available at
the time they are made, assumptions made by the Fund, and the Fund's good
faith belief with respect to future events, and are subject to the risks and
uncertainties outlined in the Fund's annual information form that could cause
actual performance or results to differ materially from those reflected in the
forward-looking statements, historical results or current expectations. All
forward-looking statements may be affected by and are subject to the risks set
out under Risk Factors in the Fund's annual information form.

For further information:

For further information: Alison M. Hill, President & Chief Executive
Officer, International Aviation Terminals Inc., Direct (415) 733-9499, Fax
(415) 477-2199, Email ahill@amb.com

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