Teranet Income Fund Announces Distribution for October 2008

    TORONTO, Oct. 20 /CNW/ - Teranet Income Fund (TSX: TF.UN) (the "Fund")
today announced a cash distribution of $0.0676 per unit for the period from
October 1, 2008 to October 31, 2008.
    The cash distribution will be paid on November 17, 2008, to Unitholders
of record at the close of business on October 30, 2008. An October 30, 2008
record date is in accordance with the distribution policy set out in the
Fund's amended and restated declaration of trust dated June 6, 2006 and
ensures that October's distribution is a "Permitted Distribution" (as such
term is defined in Borealis Acquisition Corporation's take-over bid circular
dated September 12, 2008, as extended by the notice of extension dated
October 15, 2008 (the "Offer")) and will be paid to all Unitholders of record
on such record date, including those who tendered to the Offer.

    About Teranet

    Teranet offers e-services to the legal, real estate, government,
financial and healthcare markets. Teranet provides exclusive access to
Ontario's Electronic Land Registration System ("ELRS"), enabling customers to
conduct electronic registrations as well as title and writ searches relating
to real property. Teranet has also leveraged its core competencies to create
electronic service offerings in complementary areas. Teranet's comprehensive
products and services include property information, transaction management,
collateral risk management, geospatial information, workflow software and
enterprise solutions. Teranet Income Fund units are listed on the Toronto
Stock Exchange under the symbol TF.UN. For more information about Teranet,
visit www.teranet.ca.

For further information:

For further information: Tanis Robinson, Manager, Investor Relations,
(416) 643-1096, tanis.robinson@teranet.ca

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