OFI Income Fund Signs New Labour Agreement Covering Ottawa Plant

    OTTAWA, Dec. 18 /CNW/ - OFI Income Fund (TSX: OFB.UN), a producer of
fibreglass insulation products, today announced that it has signed a new
three-year labour agreement with the Communications, Energy and Paperworkers
Union, which represents more than 100 employees at its fibreglass
manufacturing plant in Ottawa.
    "With the signing of this agreement, OFI this year successfully
negotiated with no disruptions new three-year agreements covering the
employees at our two operating plants in Ottawa and Redcliff, Alberta," said
Joseph Skarzenski, President and Chief Executive Officer. "The signing of
these agreements this year is consistent with the positive relationship that
we have been able to maintain over the years with our employees and the unions
representing them."

    About OFI Income Fund

    Since 1980, OFI has been manufacturing and distributing a broad range of
fibreglass insulation products, including fibreglass ceiling tiles, designed
for thermal and acoustical applications and destined for the Canadian, U.S.,
and international residential and non-residential/industrial markets. OFI
operates under a low-cost structure and has been profitable for the past 23
years. Additional information is available at www.sedar.com or the company's
website at www.ofigroup.com.

For further information:

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

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