Canadian Income Management Trust
TSX : CNM.UN

Canadian Income Management Trust

November 03, 2006 16:38 ET

Canadian Income Management Trust 'TSX:CNM.UN' Suspends November Distribution

TORONTO, ONTARIO--(CCNMatthews - Nov. 3, 2006) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

The Board of Directors of Canadian Income Management CIM Limited, the administrator of Canadian Income Management Trust (the "Trust")(TSX:CNM.UN) announces that it has suspended the distribution payment to the unitholders of record of the Trust as of November 30, 2006. This announcement is the result of a decision by the Board of Directors of Canadian Income Management Inc. (the "Corporation"), in its capacity as general partner of Canadian Income Management LP (the "Partnership"), that it will not be making the November 30, 2006 payment on the residual units of the Partnership, 99% of which are held by the Trust, until further notice, due to current market conditions and the Corporation's obligations in respect of the debentures.

The October distribution to unitholders of record of the Trust as of October 31, 2006 will be paid on November 15, 2006, as previously announced. The Board of Directors of the Trust and the Corporation will review future distributions on a month-to-month basis to ensure the best interest of unit and debenture holders.

Canadian Income Management

The investment objectives of the Corporation are (i) to provide debentureholders with semi-annual interest payments at a rate of 7% per annum, and (ii) to preserve and potentially enhance the value of the portfolio in order to repay the debentures at maturity.

The investment objectives of the Trust are (i) to provide cash distributions, and (ii) to preserve and potentially enhance the value of the portfolio.



The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4



Contact Information

  • Sentry Select Capital Corp.
    Investor Services
    (broker/investor inquiries)
    1 (888) 246-6656
    (416) 364-1197 (FAX)
    or
    Sentry Select Capital Corp.
    Kevin Cohen
    (General Counsel)
    1 (888) 246-6656
    (416) 364-1197 (FAX)