Newport Partners Income Fund
TSX : NPF.UN

October 19, 2007 14:00 ET

Newport Partners Income Fund Announces October 2007 Distribution

TORONTO, ONTARIO--(Marketwire - Oct. 19, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Newport Partners Income Fund ("NPF")(TSX:NPF.UN) announced today that a cash distribution in the amount of $0.08333 per Unit, covering the period from October 1 to October 31, 2007, will be paid on November 15, 2007 to Unitholders of record at the close of business on October 31, 2007. NPF's current annual distribution is $1.00 per Unit.

NPF has now completed its Normal Course Issuer Bid. NPF has bought back at an average price of $6.04 and cancelled 1,924,572 Units.

ABOUT NPF

NPF is an unincorporated, open-ended trust created to hold, through its investment in Newport Partners Commercial Trust, interests in Newport Private Yield LP, a limited partnership established under the laws of the Province of Ontario. NPF began trading on the TSX on August 8, 2005 under the symbol NPF.UN.

NPF provides a simple way for investors to own private equity investments and gain access to a professionally-managed diversified portfolio of successful Canadian private businesses that offers income, growth, diversification and liquidity. NPF's investment philosophy is to make long-term equity investments in leading or niche private businesses that have a track record of strong earnings, and potential for future growth. NPF seeks to minimize risk through diversification, prudent use of leverage and investing in competent operating management who are known and trusted by NPF. NPF's portfolio currently consists of 18 private company holdings representing a diverse cross-section of the Canadian economy. Management has decades of investment experience and a significant ownership position in NPF.

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