February 16, 2010 16:05 ET

TerraVest Income Fund Announces Appointment of Trustees

VEGREVILLE, ALBERTA--(Marketwire - Feb. 16, 2010) - The Board of Trustees of TerraVest Income Fund (TSX:TI.UN) today announced that it has appointed Mr. Rob Normandeau and Mr. Cecil Hawkins Trustees of the Fund and Directors of its administrator, TerraVest Industries Inc.

Rob Normandeau is the President and Chief Operating Officer for Clarke Inc. (TSX: CKI), an investment company based in Halifax, Nova Scotia. Mr. Normandeau holds an MBA and is admitted to the practice of law in Ontario, Nova Scotia and New York. He also serves on the Boards of Clarke Inc., Cinram International Income Fund (TSX: CRW.UN) and Rocky Mountain Liquor Inc. (TSX: RUM).

Cecil Hawkins is the sole owner of Canerector Inc., a Canadian company whose predecessor firm was founded in 1947. Canerector specializes in multiple facets of metal fabrication and erection. It operates from 25 facilities in North America and has approximately 2,000 employees. Mr. Hawkins joined the company in 1978 and holds a BA and an MA from the University of Cambridge and an LLB from Dalhousie University.

About the TerraVest Income Fund

TerraVest Income Fund (the "Fund") is an unincorporated, open-ended, limited purpose, mutual fund trust established under the laws of the Province of Alberta pursuant to a declaration of trust (the "Declaration of Trust") dated May 3, 2004. The Fund was established for the purpose of investing in a diversified group of income producing businesses located primarily in Canada.

The Fund has invested in six portfolio businesses:

RJV is one of Canada's largest providers of wellhead processing equipment for natural gas industry in western Canada. Ezee-on manufactures heavy-duty equipment for large acreage grain farms and livestock operations. Stylus is one of Canada's leading made-to-order upholstered furniture manufacturers. Don Park is one of Canada's leading manufacturers and suppliers of heating, ventilation and air conditioning products. Diamond is a market leader in providing well servicing to the oil and natural gas sector in south-western Saskatchewan, with a presence in south-eastern Alberta. Beco is one of Canada's largest designers, manufacturers and importers of home textile products.

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