Lakeport Brewing Income Fund

    HAMILTON, ON, March 22 /CNW/ - Lakeport Brewing Income Fund (TSX: TFR.UN)
("Lakeport") announced that, as previously disclosed might occur in the
take-over bid circular of Labatt Brewing Company Limited ("Labatt") dated
February 21, 2007 mailed in connection with its offer to acquire all of the
units of Lakeport, the Commissioner of Competition has now advised Lakeport
and Labatt that she will be bringing an application to the Competition
Tribunal for an order requesting a further 30 days to consider the proposed
acquisition. Further details of this procedure are contained in the Labatt
take-over bid circular.
    Pursuant to the support agreement dated January 31, 2007 between Labatt
and Lakeport, if the Tribunal grants the order, Labatt has agreed to extend
its offer from time to time (in increments not exceeding 12 days, except as
otherwise agreed by Lakeport) until the expiry of any period of time granted
by the Tribunal order, including any extensions of that order.

For further information:

For further information: Teresa Cascioli, Chair and Chief Executive
Officer, Lakeport Brewing,,

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