Morneau Sobeco Income Fund
TSX : MSI.UN

Morneau Sobeco Income Fund

October 16, 2007 14:00 ET

Morneau Sobeco Income Fund Declares October 2007 Cash Distribution

Highlights: - Subordination Period Expired - Restatement Filing Completed

TORONTO, ONTARIO--(Marketwire - Oct. 16, 2007) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Morneau Sobeco Income Fund (the "Fund") (TSX:MSI.UN) today announced a cash distribution of $0.07356 per unit for the month of October 2007, to be paid November 15, 2007 to holders of record of units of the Fund on October 31, 2007.

Subordination Period Expiry

At the same time, the Fund confirmed the end of the subordination period relating to the Subordinated Class B LP Units of Morneau Sobeco Group Limited Partnership (the "Subordinated Units"). The Subordinated Units are exchangeable for units of the Fund and were subject to certain distribution and exchange restrictions during the subordination period. The Subordinated Units are held by former owners of the Morneau Sobeco business which was acquired by the Fund with proceeds from the Fund's initial public offering in September 2005.

Restatement Completed

The Fund also announced the completion of the filing of its restated financial statements for each of the quarterly interim and annual periods commencing September 30, 2005 and ending March 31, 2007, which was previously announced on August 14, 2007. The restated financial statements and the supplemental management's discussion and analysis related to all periods can be found on the Fund's Web site at www.morneausobeco.com and on the SEDAR Web site at www.sedar.com.

About Morneau Sobeco

Morneau Sobeco is the largest Canadian-owned pension and benefits consulting and outsourcing firm, providing services to organizations across Canada and in the United States. With over 1,100 employees in offices in 13 cities across North America, Morneau Sobeco has focused on the integrated design and delivery of pension and benefit plans for over 40 years. Units of Morneau Sobeco Income Fund trade on the Toronto Stock Exchange under the symbol MSI.UN. Further information about Morneau Sobeco can be obtained on the firm's Web site at www.morneausobeco.com.

Contact Information

  • Morneau Sobeco Income Fund
    William Morneau
    President & CEO
    416-445-2700
    or
    Morneau Sobeco
    Andre Pinsonneault
    Manager, Corporate Communications
    416-383-6499