YIELDPLUS Income Fund - Third Quarter 2008 Distributions

    TORONTO, July 15 /CNW/ - Middlefield Group is pleased to announce that
distributions for the third quarter of 2008 will be payable to unitholders of
YIELDPLUS Income Fund as follows:

                                              Distribution Per
    Record Date             Payable Date         Trust Unit
    July 31, 2008          August 15, 2008         $0.10
    August 31, 2008      September 15, 2008        $0.10
    September 30, 2008    October 15, 2008         $0.10

    The trust units trade on the Toronto Stock Exchange under the symbol

    This press release contains forward-looking information. The
forward-looking information contained in this press release is based on
historical information concerning the distributions and dividends paid on the
securities of issuers historically included in the portfolio of YIELDPLUS
Income Fund. Actual future results, including the amount of distributions paid
by the Fund, may differ from the monthly distribution amount. Specifically,
the income from which distributions are paid may vary significantly due to:
changes in portfolio composition; changes in distributions and dividends paid
by issuers of securities included in the Fund's portfolio from time to time;
there being no assurance that those issuers will pay distributions or
dividends on their securities; the declaration of distributions and dividends
by issuers of securities included in the portfolio will generally depend upon
various factors, including the financial condition of each issuer and general
economic and stock market conditions; the level of borrowing by the Fund; and
the uncertainty of realizing capital gains. The risks, uncertainties and other
factors that could influence actual results are described under "Risk Factors"
in the Fund's prospectus dated February 6, 2008 and other documents filed by
the Fund with the Canadian securities regulatory authorities. The
forward-looking information contained in this press release constitutes the
Fund's current estimate, as of the date of this press release, with respect to
the matters covered hereby. Investors and others should not assume that any
forward-looking statement contained in this press release represents the
Fund's estimate as of any date other than the date of this press release.

For further information:

For further information: please visit our website at www.middlefield.com
or contact the undersigned: Nancy Tham, Senior Vice President, (416) 847-5349

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