BFI Canada Income Fund

BFI Canada Income Fund

January 04, 2005 14:55 ET

BFI Canada Completes Acquisition of Ridge Landfill


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BFI CANADA INCOME FUND

TSX SYMBOL: BFC.UN

JANUARY 4, 2005 - 14:55 ET

BFI Canada Completes Acquisition of Ridge Landfill

TORONTO, ONTARIO--(CCNMatthews - Jan. 4, 2005) - BFI Canada Income Fund
(TSX:BFC.UN) today announced that it has successfully completed the
purchase of the Ridge landfill from Waste Management of Canada
Corporation in a transaction valued at Cdn$110 million. The completion
of this transaction follows regulatory approval from the Competition
Bureau and was in accordance with the terms previously announced.

With an annual permitted capacity of 680,000 tonnes, the Ridge landfill
provides an important and ongoing solution to Ontario's non-hazardous,
solid waste management challenge. By acquiring it, BFI Canada will be
able to increase internalization of volumes and further enhance its
market presence in Ontario while delivering immediate and long-term
economic benefits to its unitholders.

"We are delighted to be able to add the Ridge landfill to our expanding
footprint in southern Ontario because it enables us to optimize
performance of our existing collection operations by internalizing
volumes and achieving a higher degree of vertical integration," said
Keith Carrigan, President and CEO of BFI Canada. "The Ridge landfill
acquisition rounds out BFI's base platform in Ontario, provides a
long-term disposal solution for industrial, commercial and institutional
(IC&I) waste generated from the southern Ontario market, and is
immediately accretive to unitholders."

About BFI Canada

BFI Canada Income Fund, through its subsidiaries, is one of Canada's
largest full-service waste management companies, providing non-hazardous
solid waste collection and landfill disposal services for municipal,
commercial, industrial and residential customers in the provinces of
British Columbia, Alberta, Manitoba, Ontario and Quebec. The Fund's
units are listed on The Toronto Stock Exchange under the symbol BFC.UN.
For more information on the Fund, visit www.bficanada.com.

This document may contain forward-looking statements relating to the
Fund's operations or to the environment in which it operates, which are
based on the Fund's operations, estimates, forecasts and projections.
These statements are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict, or are beyond the
Fund's control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in these
forward-looking statements. These factors include those set forth in the
Fund's renewal Annual Information Form for the period ended December 31,
2003. Consequently, readers should not rely on such forward-looking
statements. In addition, these forward-looking statements relate to the
date on which they are made. Although the forward-looking statements
contained herein are based upon what management believes to be
reasonable assumptions, the Fund cannot assure unitholders that actual
results will be consistent with these forward looking statements, and
the Fund disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.

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