IBI Income Fund declares its monthly cash distribution to unitholders

    TORONTO, May 20 /CNW/ - IBI Income Fund (the "Fund") (TSX: IBG.UN) today
declared a cash distribution of $0.1333 per Fund Unit for the month of May
2009, payable June 30, 2009 to unitholders of record on May 29, 2009.
    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 May 2009 payable on June 30, 2009. 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 69% 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 31% 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 49% interest in the
    There are currently 11,292,807 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: Allan J. Kamerman, IBI Income Fund, 230
Richmond Street West, 5th Floor, Toronto, ON, M5V 1V6, Tel: (416) 596-1930,
Fax: (416) 596-8024

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IBI Group Inc.

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