OFI Income Fund announces February 2008 Distribution and Tax Treatment of Distributions

    OTTAWA, Feb. 15 /CNW/ - OFI Income Fund (OFB.un) announced today that the
Board of Trustees has approved cash distribution for the month of February
2008 of $ 0.065 per Fund unit covering the period of February 1, 2008 to
February 29, 2008, which will be paid on March 17, 2008 to unitholders of
record at the close of business on February 29, 2008.

    Tax Treatment of Distributions

    For the year ending December 31, 2007, 75% of distributions paid in 2007
should be treated as Return on Capital (ROC), the balance (25%) as income.
Specifically $0.76122 paid by unit in 2007 was Return on Capital, $0.25374 was
income for a total of $1.01496 paid per unit during 2007.

    About OFI Income Fund

    OFI income Fund is an unincorporated, open-ended trust established under
the laws of the Province of Ontario, created to indirectly acquire and hold
interest in the outstanding limited partnership units of OFI L.P. ("LP

    About OFI

    Since 1980, OFI has been manufacturing and distributing a broad range of
fibreglass insulation products including ceiling tiles designed for thermal
and acoustical applications. OFI products are destined for the residential as
well as non-residential/industrial markets in Canada, the US and overseas. OFI
manufactures under a low-cost operating structure and has been profitable for
the past 23 years.

    %SEDAR: 00022462E

For further information:

For further information: Catherine Skarzenski, Executive Vice-President
and Chief Financial Officer, Tel: (613) 247-7116, Fax: (613) 736-7281,

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