IBI Income Fund Announces the Closing of the Merger/Acquisition of the Practices of Young + Wright Architects, of Toronto and Lawrence Doyle Young + Wright Architects of Vancouver

    TORONTO, Jan. 31 /CNW/ - IBI Income Fund (the "Fund") (TSX:IBG.UN)
announced today that the merger/acquisition of the practices of Young + Wright
Architects of Toronto, Robbie Young + Wright Architects of Toronto and
Lawrence Doyle, Young + Wright Architects of Vancouver has now been finalized.
This merger has an effective date of January 1, 2008.

    About IBI Income Fund

    The Fund is a TSX listed income trust, which pays monthly distributions
and trades under the symbol "IBG.UN".
    The Fund holds an indirect 68% interest in IBI Group, a partnership
which, directly and through its subsidiary entities, 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 is owned by IBI Group Management
Partnership. On a fully diluted basis, IBI Group Management Partnership has a
46.6% interest in the Fund.

    %SEDAR: 00021044E

For further information:

For further information: Philip H. Beinhaker, IBI Income Fund, 230
Richmond Street West, Toronto, Ontario, M5V 1V6, Telephone: (416) 596-1930

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IBI Group Inc.

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