FrontFour Holdings Inc. announces take-up of 2,415,553 units of IAT Air Cargo Facilities Income Fund (TSX: ACF.UN) under its offer dated June 24, 2008

VANCOUVER, Aug. 29 /CNW/ - FrontFour Holdings Inc. ("FrontFour") is pleased to announce that it has taken up and agreed to pay for all 2,415,553 units of IAT Air Cargo Facilities Income Fund (the "Fund") deposited to its offer dated June 24, 2008 to purchase for cash 2,801,184 units ("Units") of the Fund (the "Offer"). The 2,415,553 Units validly deposited to the Offer and not withdrawn by Fund unitholders prior to the take up by FrontFour on August 29, 2008 represent approximately 34.7% of the outstanding Units of the Fund, or approximately 38.4% of the Units outstanding that were not already owned by FrontFour and its affiliates prior to the take up. All conditions to the Offer have been satisfied or waived.

Following take-up of the 2,415,553 Units, FrontFour and its affiliates beneficially own a total of approximately 3,098,653 Units or approximately 44.5% of the outstanding Units of the Fund.

About FrontFour

FrontFour Capital Group LLC is a privately owned hedge fund management company based in Stamford, Connecticut. FrontFour Holdings Inc. is a British Columbia corporation and a wholly owned subsidiary of FrontFour Capital Group LLC.

    
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Contacts

Zachary George at (203) 274-9050