TORONTO, Aug. 6 /CNW/ - IBI Income Fund (the "Fund") (TSX: IBG.UN) today
announced that the monthly cash distribution on its Fund Units has been
increased by $0.0058, or 4.6%, to $0.1333 per Fund Unit ($1.60 per Fund Unit
per annum) effective with the distribution for the month of August 2008,
payable September 30, 2008 to unitholders of record on August 29, 2008.
The Fund also announced that IBI Group Management Partnership will
receive a distribution of $0.1333 per Class B Unit held by it in IBI Group for
the month of August 2008 payable on September 30, 2008. As more fully
described below, IBI Group is the partnership through which the professional
services business of the Fund is indirectly carried on.
About the IBI Income Fund
The Fund holds an indirect 68% interest in IBI Group, a partnership which
provides professional services, including planning, design, implementation,
analysis of operations and other consulting services in relation to four main
areas of development, being urban land, building facilities, transportation
networks and systems technology. The remaining 32% of IBI Group, represented
by Class B Units, is owned by IBI Group Management Partnership.
There are currently 10,651,111 Fund Units and 5,025,778 Class B Units
issued and outstanding. All of the Class B Units are owned by IBI Group
Management Partnership. The Class B Units of IBI Group are exchangeable, on a
one-for-one basis, for Fund Units.
The Fund is a TSX listed income trust, which pays monthly distributions
and trades under the symbol "IBG.UN". Holders of units who are non-residents
of Canada will be required to pay all withholding taxes payable in respect of
any distributions of income by the Fund.
For further information:
For further information: Allan J. Kamerman, IBI Income Fund, 230
Richmond Street West, 5th Floor, Toronto, ON, M5V 1V6, Tel: (416) 596-1930,
Fax: (416) 596-8024