Benvest New Look Income Fund

Benvest New Look Income Fund

November 12, 2007 11:37 ET

Benvest New Look Income Fund Appoints Jean-Luc Deschamps as New Chief Financial Officer

MONTREAL, QUEBEC--(Marketwire - Nov. 12, 2007) - Benvest New Look Income Fund (TSX:BCI.UN) is pleased to announce the hiring of Jean-Luc Deschamps as Senior Vice President and Chief Financial Officer of New Look Eyewear Inc. effective November 12th, 2007. Mr. Deschamps, who is a chartered accountant, brings to New Look over 25 years of experience as a chief financial officer and financial executive in both private and public companies.

Mr. Deschamps will be reporting directly to C. Emmett Pearson, President and Chief Executive Officer of New Look and will be working very closely with Martial Gagne, Senior Vice President and Chief Operating Officer.

Mr. Deschamps will be a great addition to the New Look management team.

On May 1st, 2005, Benvest Capital Inc. was converted into an income trust named the Benvest New Look Income Fund, the purpose of which is to hold securities of New Look Eyewear Inc. ("New Look"). New Look is a leading enterprise in the eye care industry in Eastern Canada, with growth opportunities based on demographic trends and the consolidation of the industry in Canada. As of October 31, 2007, 5,784,795 units of the Fund were issued and outstanding and listed for trading on the TSX. In addition, 3,870,404 exchangeable shares (on a consolidated basis) of New Look were also issued and outstanding. These shares, which are not listed or freely tradable, have been exchangeable on a one-for-one basis into units of the Fund since May 1st, 2006.

This press release may contain certain forward-looking statements that reflect the current views and / or expectations of Benvest New Look Income Fund with respect to its performance, business, and future events. Such statements are subject to a number of risks, uncertainties, and assumptions. Actual results and events may vary.

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