Coast Wholesale Appliances Income Fund

Coast Wholesale Appliances Income Fund

April 21, 2008 20:17 ET

Coast Wholesale Appliances Income Fund Declares April Cash Distribution-Thirty-Fourth Since Fund's Inception

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - Coast Wholesale Appliances Income Fund (the "Fund") (TSX:CWA.UN) today announced a cash distribution of $0.1025 per unit for the period from April 1, 2008 to April 30, 2008. This distribution is to be paid May 15, 2008 to unitholders of record on April 30, 2008 and to the 35% retained interest held by the previous owners of the Coast business. The Fund's policy is for unitholders of record on the last business day of each month to receive distributions on or about the 15th day of the following month. This is the Fund's thirty-fourth consecutive monthly cash distribution to public unitholders.

Previously, distributions to the retained interest had been paid quarterly and were subordinated to those of public unitholders, subject to the Fund meeting certain EBITDA and cash distribution targets, as set out in its June 15, 2005 prospectus. The conditions for removal of the subordination were met during 2007 and, as anticipated, the subordination was removed following the release of the Fund's 2007 financial statements on March 24, 2008. Going forward, all distributions will be paid monthly.

Coast Wholesale Appliances Income Fund is an unincorporated, open-ended limited purpose trust launched on June 23, 2005 with the completion of an initial public offering of 6,525,000 trust units. The Fund was created to acquire and hold a 65% indirect interest in Coast Wholesale Appliances LP (Coast), a leading independent supplier of major household appliances to developers and builders of multi-family and single-family housing, and to retail customers in Western Canada. Founded in 1978, Coast operates 15 stores and four warehouse distribution centres across the four western provinces.

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