Coastal Income Corp.

Coastal Income Corp.

November 10, 2006 16:56 ET

Coastal Income Corp.: Semi-Annual Results

TORONTO, ONTARIO--(CCNMatthews - Nov. 10, 2006) - COASTAL INCOME CORP. ( announced that the net investment gain for the six months ended September 30, 2006 was $11.1 million as compared to a net investment loss of $0.8 million for the same period in 2005.

In millions 6 months ended Year ended
(except per unit or share amounts) September 30, 2006 March 31, 2006

Net assets $ 148.6 $ 135.2
Net asset value per unit $ 54.72 $ 52.04
Net asset value per Senior preferred share $ 25.00 $ 25.00


The Board of Directors declared a quarterly dividend of $0.3625 per Senior Preferred share to shareholders of record on December 15, 2006 and payable on December 29, 2006.

Coastal Income Corp. holds a portfolio of securities. The Fund's shares are listed on the TSX under the symbol

This press release includes certain forward looking statements including management's assessment of the Company's future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company's control. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements. Readers should not place undue reliance on these forward looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward looking statements, whether as a result of new information, future events or otherwise.

Contact Information

    Gordon Flatt
    (416) 867-9097
    (416) 867-1961 (FAX)