Versacold Income Fund announces 63rd consecutive monthly distribution

    TRADING SYMBOL: The Toronto Stock Exchange:
    Versacold Income Fund - ICE.UN, ICE.DB, ICE.DB.A, ICE.DB.B and ICE.DB.C

    VANCOUVER, April 17 /CNW/ - Versacold Income Fund (TSX: ICE.UN) ("the
Fund") today announced a regular cash distribution for the month ending
April 30, 2007 of $0.08333 per unit payable on May 15, 2007 to unitholders of
record at the close of business on April 30, 2007. This is the Fund's 63rd
consecutive monthly cash distribution since inception.
    The Fund was launched in February 2002 with an issue price of $8.50 per
unit. Based on annualized distributions equal to $1.00 per unit and the
April 16, 2007 closing market price of $10.08, the Fund's units currently
yield an annualized cash return of 9.9%. Holders of units who are
non-residents of Canada will be required to pay all withholding taxes payable
in respect to any distributions of income by the Fund.
    The Fund also announced that conversions of its 8.5% debentures (TSX
trading symbol ICE.DB) into units of Versacold Income Fund will not be
processed during a seven-business day period in advance of the April 30, 2007
semi-annual interest payment date. The Fund's transfer agent, Computershare
Trust Company of Canada, will close its registers at the end of business on
April 18, 2007 and reopen them on May 1, 2007. The seven-business day period
will apply to future semi-annual interest payment dates as well.
    The Fund is an unincorporated, open-ended limited purpose trust. The
trust was created to invest in public refrigerated warehousing, distribution
and related businesses, initially through the acquisition of Versacold
Holdings Corp. ("Versacold").

    Versacold is one of the top three public refrigerated warehousing (PRW)
companies in the United States and in the world, with 72 facilities in the
U.S., Canada, Australia, New Zealand and Argentina. Versacold's operations
provide global refrigerated storage capacity of approximately 290 million
cubic feet to a diverse group of food producers, processors, and wholesale and
retail distributors. Versacold also provides fully integrated refrigerated
distribution services.
    The Fund's units and convertible debentures trade on the Toronto Stock
Exchange under the respective symbols of ICE.UN, ICE.DB, ICE.DB.A, ICE.DB.B
and ICE.DB.C. To find out more about Versacold (TSX: ICE.UN), visit our
website at

    This news release includes statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks and
uncertainties. Versacold Income Fund cautions that actual performance will be
affected by a number of factors, many of which are beyond its control. Future
events and results may vary substantially from what Versacold Income Fund
currently foresees.
    %SEDAR: 00017300E

For further information:

For further information: Roger Dall'Antonia, Vice President, Treasury
and Investor Relations, Versacold Income Fund, 2115 Commissioner Street,
Vancouver, British Columbia, V5L 1A6, Telephone: (604) 255-4656, Fax: (604)
255-4330, Website:

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