Liquor Barn Income Fund Appoints New Chief Financial Officer

    EDMONTON, March 23 /CNW/ - Liquor Barn Income Fund (TSX: LBN.UN), a
leading operator of private retail liquor stores in Western Canada, today
announced that Richard N. Hughes has been appointed Chief Financial Officer of
Liquor Barn GP Inc., effective March 23, 2006. He will replace J. Leslie
Wright, who, as previously announced, is leaving Liquor Barn to accept a
senior position with a multinational corporation operating in a different
    "We are pleased to welcome Richard to the Liquor Barn management team,"
said Dr. John Mather, President and CEO, Liquor Barn GP Inc. "Richard has more
than 25 years of experience as a senior financial officer with a broad range
of financial and corporate achievements behind him. I would also like to take
this opportunity to thank Les Wright for his contributions as CFO. Les has
been a valued member of our team, and we wish him the best of luck in his
future endeavors."
    Mr. Hughes has worked in senior financial positions in both the public
and private sector. Prior to joining Liquor Barn, Mr. Hughes was Controller of
Nucryst Pharmaceuticals Inc., a TSX and Nasdaq-listed manufacturer of wound
care bandages using silver in a proprietary technology. Prior to joining
Nucryst, Mr. Hughes spent seven years with Alberta Pacific Forest Industries
Inc., a subsidiary of Mitsubishi Corporation, as Controller and later as Vice
President, Administration. Mr. Hughes has also served as Vice President,
Finance for the Edmonton Oilers Hockey Club and in various senior financial
roles for EMCO Distribution Group, Exxon Chemical Fertilizers, Metro Fuels
Ltd. and Imperial Oil Limited.
    Mr. Hughes is a Chartered Accountant and holds a Bachelor of Arts from
the University of Waterloo.

    About Liquor Barn Income Fund

    Liquor Barn Income Fund is a publicly traded Canadian Income Fund that
owns a 61.4% interest in Liquor Barn Limited Partnership ("Liquor Barn LP").
Liquor Barn LP, which currently operates 61 liquor stores in Alberta and nine
in British Columbia, is a leading operator of private retail liquor stores in
Western Canada. The Fund's units trade on the Toronto Stock Exchange under the
symbol LBN-U. Additional information about Liquor Barn Income Fund is
available at and

    %SEDAR: 00023526E

For further information:

For further information: Dr. John Mather, Chief Executive Officer,
Liquor Barn GP Inc., (780) 462-0190 ext 315

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