Newalta Announces New $425 Million Credit Facility

    TSX Trading Symbol: NAL.UN

    CALGARY, Oct. 15 /CNW/ - Newalta Income Fund ("Newalta") announced that
it has entered into a new amended credit agreement with a lending syndicate of
seven financial institutions led by CIBC.
    The new, two-year, $425 million extendible revolving credit facility will
be used to fund growth capital expenditures as well as general corporate
    "This new credit facility provides us the financial capacity to continue
to grow and diversify our business and to deliver superior value for our
investors," said Ron Sifton, Executive Vice President and Chief Financial

    Newalta Income Fund is one of Canada's leading industrial waste
management and environmental services companies and focuses on maximizing the
value inherent in industrial waste through the recovery of saleable products
and recycling. It also provides environmentally sound disposal of solid,
non-hazardous industrial waste. With talented people and a national network of
facilities, Newalta serves customers in the automotive, forestry,
manufacturing, mining, oil and gas, petrochemical, pulp and paper, steel and
transportation service industries. Providing solid investor returns,
exceptional customer service, safe operations and environmental stewardship
has enabled Newalta to expand into new service sectors and geographic markets.
Newalta Income Fund's units trade on the TSX as NAL.UN. For more information,

For further information:

For further information: Anne M. MacMicken, Director, Investor
Relations, (403) 806-7019

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