IBI Income Fund Announces the Extending of its Credit Facility

    TORONTO, Feb. 3 /CNW/ - IBI Income Fund (the "Fund") (TSX:IBG.UN)
announced today that it has amended its credit facility, increasing the amount
from $85 million to $100 million, as well as the extension of the term of the
Bridge and Operating facilities to December 31, 2009.
    The amended credit facility is being made available by a syndicate of
financial institutions led by The Toronto-Dominion Bank as administrative
agent and arranger, together with Bank of Montreal and National Bank of

    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 69.2% 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 30.8% of IBI Group is owned by IBI Group Management
Partnership. On a fully diluted basis, IBI Group Management Partnership has a
49.0% 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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