Phoenix Capital Income Trust

Phoenix Capital Income Trust

May 30, 2006 14:36 ET

Phoenix Capital Income Trust-Interim Results to March 31, 2006

TORONTO, ONTARIO--(CCNMatthews - May 30, 2006) - Phoenix Capital Income Trust, (TSX VENTURE:PNX.UN) - For the three months ended March 31, 2006, the Trust incurred a net loss of $58,214 ($0.10 per Unit) compared with a loss of $96,762 ($0.12 per Unit) for the same period in 2005. Consolidated revenue increased from $513,077 to $586,401. The increased revenue was attributable to improved results in the first quarter from the Travelodge hotel in Windsor. The overall performance continues to be adversely affected by the regulatory delay to the planned offering of trust units.

A full discussion of the financial results is available on SEDAR.

About Phoenix Capital Income Trust:

Phoenix provides liquidity to the Canadian real estate syndicate market by acquiring interests from persons involved in financially sound but illiquid partnerships or managed joint ventures that own real property primarily located in Canada.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Phoenix Capital Income Trust
    James D. Hamilton
    (416) 861-1940
    Phoenix Capital Income Trust
    Michael Pereira
    (416) 861-1940
    (416) 849-0492 (FAX)