Lawrence Income and Growth Fund Declares Monthly Distribution

    TORONTO, Oct. 22 /CNW/ - The Manager of Lawrence Income and Growth Fund
("LIGF") (formerly Lawrence Payout Ratio Trust) today announced the Fund's
distribution to holders of Lawrence Income and Growth Fund Units (LAW480). The
monthly distribution of $0.0583 per trust unit will be payable on or before
November 15, 2007 to holders of record as of October 31, 2007.

    Lawrence Income and Growth Fund is an actively managed portfolio of
Canadian income funds, convertible bonds, debentures, high yield debt
instruments and listed equity securities. LIGF units are RRSP eligible. LIGF
is managed by Lawrence Asset Management Inc.

    Distribution Details
    Distribution per Lawrence Payout Ratio unit (LAW480):  $0.0583
    Ex-Dividend Date:                                      October 29, 2007
    Record Date:                                           October 31, 2007
    Payment Date:                                          November 15, 2007

    %SEDAR: 00025932E

For further information:

For further information: Investor Relations, Catherine Stretch, (416)

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