Vicwest Income Fund Acquires Assets of Architectural Panel Fabricator

    Toronto Stock Exchange: VIC.UN

    OAKVILLE, ON, Oct. 6 /CNW/ - Vicwest Income Fund ("Vicwest" or the
"Fund") (TSX: VIC.UN) today announced that it has acquired the operating
assets of RCA Metal Inc. ("RCA") for a purchase price of approximately $9
million, of which $7.6 million was paid on closing and the remainder being
subject to the acquired business satisfying certain financial objectives over
the next three years. Based in Memramcook, New Brunswick, RCA is Atlantic
Canada's leading fabricator and installer of Aluminum Composite Panel, an
architectural building construction product. RCA's project list includes a
number of landmark buildings including the Moncton Hospital, The Delta Hotel,
Sydney and the MacKinnon Building, University of Guelph.
    "RCA is a well managed company with an excellent reputation in our
industry. We are proud to have the team at RCA join Vicwest, and believe the
combination of RCA, our existing composite panel facility on the west coast,
and our national marketing and distribution strength constitute an outstanding
platform for continued growth in an expanding architectural panel market,"
said Colin Osborne, President and Chief Executive Officer. "This transaction
clearly demonstrates our commitment to growth through strategic acquisitions
that will leverage the strengths of the Fund, as well as our dedication to
providing quality service and offering a broader range of industry-leading
products to customers."
    "RCA and Vicwest have enjoyed a long and mutually beneficial
relationship," said Robert Cormier, President and Founder of RCA. "We see this
transaction as a natural step that supports the growth of our business as we
continue to provide our existing markets with top-quality products and

    Forward-Looking Statements

    Certain statements in this press release constitute forward-looking
statements. Although management believes that the forward-looking statements
reflected in this report are based on reasonable assumptions, such statements
involve known and unknown risks and uncertainties and other factors, which may
cause actual results to be materially different from any future results,
performance or achievements of the Fund expressed or implied by such
forward-looking statements. Forward-looking statements include, without
limitation, statements regarding future results, future plans and objectives
of the Fund. Forward-looking statements generally can be identified by the use
of forward looking terminology such as "may"," will", "expect", "intend",
"estimate", "anticipate", "believe", "continue" or the negative thereof or
variations thereon or other similar terminology. Forward-looking statements
involve significant risks and uncertainties and should not be read as
guarantees of future performance or results and will not necessarily be
accurate indications of whether or not such results will be achieved. A number
of factors could cause actual results to differ materially from the results
discussed in the forward looking statements including, but not limited to, the
factors discussed under "Risks and Uncertainties" in the Fund's most recently
filed Management Discussion and Analysis and in the Fund's Annual Information

    About Vicwest Income Fund

    The Fund is one of Canada's leading manufacturers and distributors of
construction building products, including metal roofing, siding and other
metal building products. Headquartered in Oakville, Ontario, it fabricates and
markets these products under the Vicwest, Mercury Metals and Valley Truss &
Metal trade names. Under the Westeel trade name, the Fund is one of Canada's
foremost manufacturers of steel containment products for agricultural storage
of grain and fertilizer. Its liquid storage tanks and accessories are
manufactured and distributed under the trade names Westeel, Northern Steel
Industries and NSI. The Fund has 16 manufacturing facilities strategically
located across Canada with more than 1,000 dedicated employees committed to
providing superior quality products and delivering excellent service to
customers in domestic and international markets.

For further information:

For further information: Colin Osborne, President & Chief Executive
Officer, Vicwest Income Fund, Tel: (905) 469-5700, Fax: (905) 825-1090; John
Slattery, Executive VP & Chief Financial Officer, Vicwest Income Fund, Tel:
(905) 469-5706, Fax: (905) 825-1090

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Vicwest Inc.

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