John F. Driscoll Purchases Trust Units of Canadian Income Management Trust (TSX:CNM.UN)

TORONTO, ONTARIO--(Marketwire - April 24, 2008) - John F. Driscoll, The Exchange Tower, 130 King Street West, Suite 2850, Toronto, Ontario M5X 1A4, together with joint actors, has acquired through the facilities of the Toronto Stock Exchange beneficial ownership and control of 99,500 trust units of Canadian Income Management Trust (the "Trust") (TSX: CNM-UN.TO), representing approximately 2.03% of all issued and outstanding trust units of the Trust.

Immediately after the acquisition, John F. Driscoll, together with joint actors, beneficially owned and controlled 543,244 trust units of the Trust, representing in the aggregate approximately 11.08% of all issued and outstanding trust units of the Trust, calculated on a non-diluted basis. On a partially diluted basis, Mr. Driscoll beneficially owns and controls 657,639 trust units, or approximately 13.41% of all issued and outstanding trust units of the Trust. Mr. Driscoll's beneficial ownership and control of such securities are held through J.F. Driscoll Investment Corp. and Petro Assets Inc. (companies beneficially owned and/or controlled by John F. Driscoll).

John F. Driscoll, together with joint actors, acquired the 99,500 trust units of the Trust for investment purposes and may from time to time acquire additional securities of the Trust, in particular where the units of the Trust are trading at a discount to the net asset value per trust unit, dispose of some or all of the existing or additional securities of the Trust they respectively hold or will hold or may continue to hold their respective current position.

Contacts

connection with this news release with the various
For further information or copies of the report filed in
securities commissions, please contact: Ryan Caughey
(416) 861-8729

130 King Street West, Suite 2850,
The Exchange Tower
Toronto, Ontario M5X lA4