Art In Motion Income Fund

Art In Motion Income Fund

March 24, 2005 17:32 ET

C O R R E C T I O N from source - Art In Motion Appoints Founder as CEO

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 24, 2005) - Art In Motion
Income Fund (TSX:AIM.UN)

In the release transmitted today at 16:59e please note that the phone number
for Garry Peters should read (604) 523-2617 and not (604) 525-2617 and
the phone number for Allan Achtemichuk should read (604) 523-2627 and not
(604) 525-2627. Full corrected copy follows.

Art In Motion Income Fund announced today that Paul Wagler, the Chief
Executive Officer of Art In Motion Limited Partnership, has resigned for
personal reasons, and that Art In Motion co-founder, Garry Peters, has been
appointed as interim Chief Executive Officer. Mr. Peters held that position
until August 2004, when Paul Wagler, then Chief Operating Officer, was
appointed CEO as part of the initial public offering of the Art In Motion
Income Fund. Mr. Peters has continued to be active in Art In Motion Limited
Partnership as an advisor and director of Art In Motion GP since that time.

In commenting on the change of leadership, Mr. Bob Quart, Chairman of the
Board of Trustees of Art In Motion Income Fund, said: "Paul Wagler has made a
significant and lasting contribution to Art In Motion, and the Board is
appreciative of his commitment to our success. While Mr. Peters has indicated
that he does not intend to retain the role of CEO on a long-term basis, his
commitment and deep knowledge of our business will ensure that Art In Motion
continues to be well managed. Mr. Peters and co-founder Vicki Peters are
together the single largest investor in Art In Motion, and we are confident
that the development of our business for the benefit of all unitholders will
continue under Mr. Peters' leadership."

Contact Information

  • Art In Motion Income Fund
    Garry Peters
    (604) 523-2617
    Art In Motion Income Fund
    Allan Achtemichuk
    (604) 523-2627