Countryside Power Income Fund
TSX : COU.UN

Countryside Power Income Fund

April 19, 2007 10:02 ET

Countryside Power Income Fund Declares April Distribution

Bank Syndicate Extends Waiver

LONDON, ONTARIO--(CCNMatthews - April 19, 2007) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Countryside Power Income Fund (TSX:COU.UN) (the "Fund") announced that its April 2007 distribution of $0.0863 per unit will be paid on May 31, 2007, to unitholders of record as at April 30, 2007. Holders of units who are non-residents of Canada will be required to pay all applicable withholding taxes payable in respect of any distributions by the Fund.

The Fund also announced that its bank syndicate has agreed to a waiver and amendment of the existing credit facility to, among other things, extend the current waiver from May 31, 2007, to July 31, 2007, in order to accommodate the expected conclusion of the strategic review process currently under way, subject to ongoing compliance with financial covenants.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of the Fund that involve risks and uncertainties. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed from time to time in the Fund's annual information form dated March 26, 2007, and available on SEDAR. Due to the potential impact of these factors, the Fund disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.

About Countryside Power Income Fund

Countryside Power Income Fund has investments in two district energy systems in Canada, with a combined thermal and electric generation capacity of approximately 122 megawatts, and two gas-fired cogeneration plants in California, with a combined power generation capacity of 94 megawatts. More information about the Fund is available at www.countrysidepowerfund.com.

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