IBI Income Fund Announces the Extension of its Credit Facility

    TORONTO, Sept. 1 /CNW/ - IBI Income Fund (the "Fund") (TSX:IBG.UN)
announced today that it has amended its credit facility, increasing the amount
from $100 million to $150 million, as well as extending the term to August 31,
    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, Canadian Imperial Bank of
Commerce and National Bank of Canada.

    About IBI Income Fund

    The Fund holds an indirect 72% 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 28% of IBI Group, represented
by Class B Units, is owned by IBI Group Management Partnership. On a fully
diluted basis, IBI Group Management Partnership has a 46% interest in the
    There are currently 12,738,146 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.

    %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

Organization Profile

IBI Group Inc.

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