Press Release: December 6, 2004

Statement by Stephen Probyn, Chairman, Canadian Association of Income Funds (CAIF) regarding Government’s announcement pertaining to foreign ownership of income trusts

The Canadian Association of Income Funds (CAIF) is pleased with the Federal Government's decision to suspend activities pertaining to foreign ownership of income trusts. CAIF believes the government’s decision to pursue a consultative process on the matter is the appropriate course of action.

We appreciate the fact that the Government and MPs of all political stripes listened to the industry’s concerns and acted accordingly. We look forward to continuing our dialogue with the Government during the consultation process.

For further information please contact:

Stephen Probyn, Chairman, CAIF
416-777-2800

or

Margaret Lefebvre, Executive Director, CAIF