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

    OTTAWA, Jan. 11 /CNW/ - OFI Income Fund (OFB.un) announced today that the
Board of Trustees has approved cash distribution for the month of January 2008
of $0.065 per Fund unit covering the period of January 1, 2008 to January 31,
2008, which will be paid on February 15, 2008 to unitholders of record at the
close of business on January 31, 2008.

    Tax Treatment of Distributions

    The Fund's tax treatment of distributions was income only in past years.
For the year ending December 31, 2007, we expect a significant portion of
distributions to be treated as Return on Capital (ROC). The final break-down
between income and ROC will be confirmed at year-end.

    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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