Phoenix Capital Income Trust

Phoenix Capital Income Trust

January 09, 2007 15:47 ET

Phoenix Capital Income Trust-Notice of Proceedings

TORONTO, ONTARIO--(CCNMatthews - Jan. 9, 2007) - Phoenix Capital Income Trust announces that Jim Hamilton, the CEO of the Trust, has advised the other trustees that he has served a notice on the Minister of Government Services and the Attorney General for Ontario that he intends to commence proceedings against certain employees of the Ontario Securities Commission and seek certification as a class action on behalf of beneficiaries of the Trust, creditors of the Trust and service providers to the Trust, all of whom have sustained damages.

About Phoenix Capital Income Trust:

Phoenix historically provided 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.

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