Dominion Citrus Income Fund and Dominion Citrus Limited Provide Update on Valuations

TORONTO, ONTARIO--(Marketwired - Dec. 10, 2015) - Dominion Citrus Income Fund (TSX:DOM.UN) (the "Fund") and Dominion Citrus Limited (TSX:DMN.PR.A) ("DCL") are updating previously released information (see press release dated on August 27, 2014) with respect to a valuation report prepared by Klein Farber Corporate Finance Inc. ("Klein Farber").

Pursuant to an engagement letter dated October 8, 2015, Klein Farber was engaged to provide its estimate of the en bloc value of the equity of DCL and the equity of its subsidiary, Dominion Farm Produce Ltd. ("DFPL"), both as at September 30, 2015.

Subject to certain assumptions and restrictions of scope, Klein Farber estimated "the enterprise value of DCL, before outstanding debt, to be in a range between $10.3 million and $13.5 million. In calculating the fair market value of equity of DCL, this range was adjusted for outstanding debt of approximately $24 million. As DCL is a limited liability corporation, equity value for practical purposes cannot be negative. Accordingly, Klein Farber estimated that the equity would have some option value, though negligible."

Subject to certain assumptions and restrictions of scope, Klein Farber also estimated the fair market value of the equity of DFPL on a standalone basis to be in a range between $7.9 million and $9.8 million.

About Dominion

The Fund is a publicly traded, unincorporated, open-ended limited purpose income trust. On January 1, 2006, all of the common shares of DCL were exchanged for trust units of the Fund. The trust units are listed on the TSX under the symbol DOM.UN. The Fund's website may be accessed at www.dominioncitrus.com.

DCL is a diversified food company supplying fresh produce to a wide variety of customers in retail, foodservice and food distribution businesses. DCL provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to its major domestic markets being Ontario and Québec. Dominion also supplies products to customers in the United States. The Series A preference shares of DCL are listed on the TSX under the symbol DMN.PR.A.

DFPL supplies local produce, particularly carrots and onions, to supermarket chains, independent food retailers and foodservice companies in Canada, the United States and the Caribbean, under the brand name "Country Fresh" as well as under private labels.

Cautionary Statement Regarding Forward Looking Information and Statements

Certain statements contained in this press release contain "forward-looking information" pursuant to Canadian securities laws ("forward-looking statements"). Forward-looking statements relate to future events or the the Fund's, DCL's or DFPLs future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plan", "contemplate", "continue", "estimate", "expect", "intend", "propose", "might", "may", "will", "shall", "project", "should", "could", "would", "believe", "predict", "forecast", "pursue", "potential" and "capable" and similar expressions are intended to identify forward-looking statements. These forward-looking statements may be affected by the risks and uncertainties in the Fund's, DCL's and DFPL's businesses, including those described in the Fund's and DCL's most recent annual information form filed on SEDAR at www.sedar.com. Any forward- looking statements speak only as of the date of this press release, and the Fund and DCL assume no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date of this press release except as required by applicable securities laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.