Stephen R. Bodnoff to Step Down From Board of Trustees of Alliance Grain Traders Income Fund at End of January 2008

    TORONTO, Jan. 3 /CNW/ - Alliance Grain Traders Income Fund (TSX-V:
AGT.UN) (the "Fund") - Stephen R. Bodnoff announced his intention to resign as
a trustee of the Fund and as a director and officer of the Fund's operating
company, Alliance Pulse Processors Inc. ("Alliance") effective as of
January 31, 2008, in order to pursue other interests. Mr. Bodnoff is the
chairman of the board of trustees of the Fund and of the board of directors of
Alliance, and was the founder of the Fund's first acquisition, Agtech
Processors Inc.
    "I am looking forward to some time for my personal life. I have dedicated
my life to this company and I am proud of the work that we did to grow this
company into a global leader. It was time for me to step aside," explained
Stephen Bodnoff.
    Murad Al-Katib, the President and CEO of Alliance and a trustee of the
Fund, commented: "While the Board deeply regrets Steve's departure, we are
confident that, with the current management team in place, the Fund and
Alliance will carry on successfully. The Board greatly appreciates the many
contributions that Steve has made to the Fund and wishes him all the best in
the future."
    The board of trustees of the Fund intends to appoint Huseyin Arslan to
fill the vacancy on the board created by Mr. Bodnoff's departure. Mr. Arslan
is currently a director of Alliance and was one of the founders of Saskcan
Pulse Trading Inc., which was acquired by the Fund and merged with Agtech
Processors Inc. in August 2007. Mr. Arslan currently sits as a Director of
Arbel Pulse and Grain Industry SA, Durum Gida SA, European Tobacco SA in
Turkey and also holds Directorships in Alliance's subsidiaries United Pulse
Trading Inc in North Dakota and Australia Milling Group. Mr. Arslan brings
25 years experience in the international food and agricultural products trade
to the Board of Trustees.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Murad Al-Katib, President and CEO, Alliance
Pulse Processors, Tel: (306) 525-4490, Email:

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