Arctic Glacier Income Fund

Arctic Glacier Income Fund

March 01, 2005 06:00 ET

Arctic Glacier Announces Increased Monthly Cash Distribution Effective March 2005


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ARCTIC GLACIER INCOME FUND

TSX SYMBOL: AG.UN

MARCH 1, 2005 - 06:00 ET

Arctic Glacier Announces Increased Monthly Cash
Distribution Effective March 2005

WINNIPEG, MANITOBA--(CCNMatthews - March 1, 2005) - The Arctic Glacier
Income Fund (TSX:AG) today announced an increase to its monthly cash
distribution to $0.0917 per trust unit from $0.0892 per trust unit, an
increase of three per cent. On an annualized basis, the cash
distribution will increase to $1.10 per trust unit from $1.07 per trust
unit.

"The increase in distributions is made possible by increased cash flow
from acquisitions completed over the last 18 months" said Robert Nagy,
President and CEO of Arctic Glacier Inc., the Fund's operating company.

"In particular, we anticipate significantly higher cash flow from the
acquisitions of the Losquadro Ice Group and the Party Time Ice group of
companies, which were completed in December of 2004," said Keith
McMahon, the Fund's Executive Vice President and CFO. "Both acquisitions
are accretive to distributable cash per unit and hold the prospect of
further growth in the future."

The increase will take effect with the March 2005 distribution, which
will be payable on April 15, 2005 to unitholders of record at the close
of business on March 31, 2005. The Fund's policy is to pay monthly
distributions to unitholders of record on the last business day of the
month.

Holders of units who are non-residents of Canada will be subject to
withholding taxes in respect of any distributions by the Fund.

Arctic Glacier Income Fund, through its operating company, Arctic
Glacier Inc., is a leading producer, marketer and distributor of
high-quality packaged ice in North America under the brand name of
Arctic Glacier® Premium Ice. Arctic Glacier operates 25 production
plants and 41 distribution facilities across Canada and the central and
northeastern United States servicing more than 50,000 retail accounts.

Arctic Glacier Income Fund trust units are listed on the Toronto Stock
Exchange under the trading symbol AG. There are 23.4 million trust units
outstanding.

This news release contains forward-looking statements, which are subject
to certain risks, uncertainties and assumptions. A number of factors
could cause actual results to differ materially from the results
discussed in these forward-looking statements, and there is no assurance
that actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as at the date of
this news release, and the Fund assumes no obligation to update or
revise them, either publicly or otherwise, to reflect new events,
information or circumstances.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Arctic Glacier Inc.
    Robert Nagy
    President & CEO
    Toll free: 1-888-573-9237
    or
    Arctic Glacier Inc.
    Keith McMahon
    Executive VP & Chief Financial Officer
    Toll free: 1-888-573-9237
    www.arcticglacierinc.com