Dominion Citrus Income Fund
TSX : DOM.UN

Dominion Citrus Income Fund
Dominion Citrus Limited
TSX : DMN.PR.A

Dominion Citrus Limited

June 26, 2008 08:33 ET

Dominion Citrus Income Fund (the "Fund") Announces Strategic Review

TORONTO, ONTARIO--(Marketwire - June 26, 2008) - Dominion Citrus Income Fund ("Dominion", the "Fund")(TSX:DOM.UN) announces that it has commenced a review of strategic options for the Trust including but not limited to the sale of all or parts of the business, the wind up of certain operations, merger of the business or a "going private" transaction. During the review process, the Trust will not reinstate distributions to the unitholders. Accordingly, the directors of Dominion Citrus Limited have decided to defer the payment of dividends on the Series A preference shares (TSX:DMN.PR.A), including deferral of the previously announced payment.

As part of the review process, Dominion's board of trustees has engaged KPMG to carry out a valuation of the Trust to guide the trustees in assessing strategic options. Management has been asked to facilitate this process.

Dominion's board will provide further updates as warranted.

About Dominion

The Fund is a publicly traded, unincorporated, open-ended limited purpose income trust. In early January 2006, all of the common shares of Dominion Citrus Limited ("DCL") were exchanged for trust units of the Fund. The trust units are listed on the TSX under the symbol DOM.UN. The Series A preference shares of DCL continue to be listed on the TSX under the symbol DMN.PR.A.
Dominion is a diversified food company supplying fresh produce and premium juices to a wide variety of customers in retail, foodservice and food distribution businesses. The Fund provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to its major domestic markets being Ontario and Quebec. The Fund also supplies products to customers in the United States. The website may be accessed at www.dominioncitrus.com.

Caution regarding Forward-Looking Statements

This release contains statements, which, to the extent that they are not a recitation of historical fact, may constitute "forward-looking statements". Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or performance, or our underlying assumptions. The words "estimate", "anticipate", "believe", "expect", "intend" or other similar expressions of future or conditional verbs such as "will", "should", "would" and "could" are intended to identify forward-looking statements. Persons reading this press release are cautioned that such statements are only expectations, and that our actual results or performance may be materially different.

Forward-looking information involves certain risks, assumptions, uncertainties and other factors, which may cause actual future results to differ materially from those expressed or implied in any forward-looking statements.

Readers should not place undue reliance on these forward-looking statements when making decisions, and should consider the date onto which the statements were made. Except as required by applicable security law, management disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Investors:
    Dominion Citrus Income Fund
    Winston Ash
    VP Finance, CFO & Corporate Secretary
    (416) 242-8341 Ext 249
    or
    Media:
    Dominion Citrus Income Fund
    J.L. Lavergne
    President & CEO
    (416) 242-8341 Ext 250
    Website: www.dominioncitrus.com