IBI Income Fund announces the Establishment of a Strategic Alliance for Joint
Venture on Planning and Design of Health Care Facilities

TORONTO, Dec. 16 /CNW/ - IBI Income Fund (The "Fund") (TSX: IBG.UN) announced today the establishment of a strategic alliance with Karlsberger Architects based in Columbus, Ohio, USA, to provide for the undertaking of the planning and design of major health care projects throughout the United States and Canada.

Karlsberger Architects, (Karlsberger), has been a leading architectural practice, specialising in the planning and design of health care facilities for over eight decades and has successfully undertaken a vast range of projects throughout the United States and Canada.

Phil Beinhaker, Chairman Director and CEO of the IBI Group noted that, "The strategic alliance of the executive team led by Michael Tyne, Chairman,; Sandra Shield Tkacz, CEO and other senior professionals who have been practicing with the firm for many years will be a very effective partner to IBI Group to provide top level professional services required for the planning and design of major health care facilities. The IBI Group resources include: IBI Group Health Care + Nightingale Architects (NA).  These combined practices are one of the leading practices in the field in Canada, (including the McGill University Health Care Centre in Montreal, which is a world scale project for which IBI are the building architects) and with the resources of NA recently merged within IBI Group, an architect of choice of public agencies, as well as private development components/construction contractors for delivery of care facilities in the British Isles as well as internationally. IBI is a top 10 firm in architecture in the world, has over 650 professionals in the USA of the total of 2,500 people worldwide. IBI commenced operations in the USA 32 years ago, and has achieved significant growth in the USA, even during this challenging period of the last 2 years".

David Thom, Managing Director of IBI Group and leader of the health care practice within the IBI Group of firms noted that, "Karlsberger and IBI Group have collaborated on Health Care projects previously and we are delighted to see the tightening of the relationship to be able to effectively offer our services in joint venture with Karlsberger for major projects in the USA. This is a strategic step in the growth of the IBI health care practice worldwide".

Michael Tyne, Chairman of Karlsberger noted that, "The strategic alliance with IBI Group undertaking projects in joint venture will enable Karlsberger to strengthen the talent and experience of Karlsberger to compete for the larger scale projects that demand greater breadth of resources that IBI can contribute.  Karlsberger professionals appreciate the world view of IBI in growing health care activity and look forward to successfully undertaking such projects through the strategic alliance as joint venturers". Sandra Shield Tkacz, CEO of Karlsberger added "Now with over 450 professional collaborators in the combined joint venture, with the experience in all facets of health care, Karlsberger in joint venture with IBI is now able to compete for and successfully undertake all projects of major scale ".

About IBI 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 71.7% in the 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 28.3% of the IBI Group is owned by IBI Group Management Partnership and IBI Group Investment Partnership, which together with their share in the indirect interest of the Fund holds a combined 46.3% interest.

For further information: For further information:

Philip H. Beinhaker
IBI Income Fund
230 Richmond Street West
Toronto, Ontario M5V 1V6

Telephone: [phone]