Acquisition of additional subordinate voting trust units of Contrans Income Fund

TORONTO, June 26 /CNW/ - Pursuant to the distribution reinvestment plan of Contrans Income Fund ("Contrans"), Stanley G. Dunford acquired 4,725 subordinate voting trust units of Contrans, or approximately .02% of the issued and outstanding subordinate voting trust units of Contrans. The subordinate voting trust units were acquired at $8.0407 per unit from treasury in accordance with the terms of the distribution reinvestment plan. Prior to this purchase, Mr. Dunford owned 902,177 subordinate voting trust units, or approximately 4.0% of the issued and outstanding subordinate voting trust units.

Mr. Dunford also owns 3,309,839 subordinate voting rights of Contrans, or approximately 68.8% of the issued and outstanding subordinate voting rights of Contrans. Mr. Dunford also owns 1,377,724 multiple voting rights of Contrans, or approximately 93.9% of the issued and outstanding multiple voting rights of Contrans. Each subordinate voting trust unit entitles the holder to one vote, each subordinate voting right entitles the holder to one vote and each multiple voting right entitles the holder to ten votes. Subordinate voting rights attach to the Class A limited partnership units of Contrans Holding Limited Partnership and the multiple voting rights attach to the Class B limited partnership units of Contrans Holding Limited Partnership. In aggregate, Mr. Dunford has a 42.5% voting interest in Contrans.

The subordinate voting trust units were acquired for investment purposes. Mr. Dunford may, depending on market and other conditions, increase or decrease his beneficial ownership of subordinate voting trust units of Contrans, whether in the open market, by privately negotiated agreements, or otherwise. This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Stanley Dunford at 519-421-4600.

Contacts

Stanley Dunford
(519) 421-4600