Newalta Announces Retirement and Appointment of Board Chair

    TSX Trading Symbol: NAL.UN

    CALGARY, Oct. 6 /CNW/ - Newalta Income Fund ("Newalta") (TSX:NAL.UN)
announced today that Mr. Clayton Riddell has retired as Chair of the Board of
Trustees of Newalta and Chair of the Board of Directors of Newalta
Corporation. Mr. Riddell will remain a trustee of Newalta and a director of
Newalta Corporation until the next annual meeting of the unitholders of
Newalta which is anticipated to be held in May 2009.
    Mr. Barry Stewart replaces Mr. Riddell as Chair of the Board of Trustees
of Newalta and Chair of the Board of Directors of Newalta Corporation.
Mr. Stewart is a former Executive Vice President of Suncor Energy Inc. and has
been a member of Newalta's Boards since 2002.
    "Clay has been a director of Newalta for 20 years and his vision,
leadership and business acumen have contributed directly to our success," said
Al Cadotte, President and CEO of Newalta.

    Newalta Income Fund is Canada's largest industrial waste management and
environmental services provider 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, lead, manufacturing,
mining, oil and gas, petrochemical, pulp and paper, refining, 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, Executive Director, Investor
Relations, Phone: (403) 806-7019

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