Lawrence Income and Growth Fund Declares Monthly Distribution

    TORONTO, May 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 Series X Units
(LAW480) and Series A Units (LAW400/LAW420) and Series F Units (LAW450). The
monthly distribution of $0.0583 per Series X unit and $0.04 per Series A and
$0.04 per Series F units will be payable on or before June 12, 2009 to holders
of record as of May 29, 2009.

    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 LAW480:                       $0.0583
    Distribution per LAW400/LAW420/LAW450:         $0.0400
    Ex-Dividend Date:                         May 27, 2009
    Record Date:                              May 29, 2009
    Payment Date:                            June 12, 2009
    %SEDAR: 00025932E

For further information:

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

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