Calpine Power Income Fund

Calpine Power Income Fund

July 29, 2005 12:08 ET

Calpine Power Income Fund Announces Retirement of Chief Financial Officer

CALGARY, ALBERTA--(CCNMatthews - July 29, 2005) - Calpine Canada Power Ltd, Manager of the Calpine Power Income Fund (TSX:CF.UN) announced today the retirement of Carol Mallabone, Vice President and Chief Financial Officer ("CFO") to pursue personal interests.

Ms. Mallabone has made many valuable contributions since joining Calpine Canada in 2001 and was instrumental in the establishment and success of the Income Fund over the last 3 years, particularly since taking on the CFO role last year.

The Manager has begun the recruitment process for a replacement CFO. Until the new CFO is appointed, the duties of the CFO will be assumed on an interim basis by Lisa Winslow, Manager of Financial Reporting for the Manager and Calpine Power Income Fund.

Calpine Power Income Fund is an unincorporated open-ended trust that invests in electrical power assets. The Fund indirectly owns interests in power generating facilities in British Columbia, Alberta and California. In addition, the Fund owns a participating loan interest in a power plant in Ontario and a promissory note issued by Calpine Canada Power Ltd. The Fund is managed by Calpine Canada Power Ltd., which is headquartered in Calgary, Alberta.

The Calpine Power Income Fund units are listed on the Toronto Stock Exchange under the symbol CF.UN.

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