Resolve Business Outsourcing Income Fund

Resolve Business Outsourcing Income Fund

June 21, 2006 07:45 ET

Resolve Business Outsourcing Income Fund announces June distribution

TORONTO, ONTARIO--(CCNMatthews – Jun. 21, 2006) - Resolve Business Outsourcing Income Fund (the "Fund")(TSX:RBO.UN) today announced a cash distribution to unitholders of $0.0833 per Unit, covering the period from June 1, 2006 to June 30, 2006. The distribution will be paid on July 17, 2006 to unitholders of record at the close of business on June 30, 2006.

This cash distribution is consistent with disclosure of the Fund's distribution policy in the prospectus dated March 9, 2006.

The Fund also announced today the appointment of Robert M. Franklin to the board of RBO General Partner Inc. that controls the Fund's operating subsidiaries. Mr. Franklin brings more than 35 years of executive and director experience. Currently, Mr. Franklin serves on the Boards of Barrick Gold Corporation, Toromont Industries Ltd., and Great Lakes Carbon Income Trust. From 1993 to 2006, Mr. Franklin was Chairman of Placer Dome Inc. He continues as President of Signalta Capital Corporation, a private investment company.

"The addition of Robert Franklin further strengthens an already outstanding board," said Lawrence Zimmering, President and Chief Executive Officer of Resolve. "He will provide invaluable guidance as we continue to focus on achieving the right mix of growth and ongoing service excellence to allow Resolve to deliver value to our clients and unitholders."

About Resolve

Resolve is a leading provider of customized, business process outsourcing services to business and governments across North America. With its 3,900 employees in 25 locations, Resolve provides clients with business process outsourcing solutions including loan administration, security registration and search services, credit and loyalty card processing, medical and dental insurance claims processing, call centre services, marketing and promotional services and supply chain management and fulfillment. Resolve Business Outsourcing Income Fund is an unincorporated, open-ended, limited purpose trust established under the laws of the Province of Ontario. The Units are listed on the Toronto Stock Exchange, symbol RBO.UN.

Certain statements in this press release may constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Fund or Resolve, or industry results to be materially different from any future results, performance or achievements or opportunities expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "may", "will", "expect", "believe", "plan", "could" and other similar terminology. These statements reflect current expectations regarding future events and operating performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under "Risk Factors" in the Fund's prospectus dated March 9, 2006. Although the forward-looking statements contained in this press release are based upon what management believes are reasonable assumptions, neither the Fund nor Resolve can assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release. Neither the Fund nor Resolve assumes any obligation to update or revise them to reflect new events or circumstances.

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Contact Information

  • Resolve Corporation
    Dave Horton
    Chief Financial Officer
    (416) 503-1800