EVEREADY INCOME FUND
TSX : EIS.UN

EVEREADY INCOME FUND

February 01, 2006 08:00 ET

Eveready Amends Distribution Reinvestment Plan

EDMONTON, ALBERTA--(CCNMatthews - Feb. 1, 2006) - Eveready Income Fund (TSX:EIS.UN) ("Eveready") announces that is has made some minor amendments to its Distribution Reinvestment Plan (the "DRIP"). The changes have been made in order to make the administration of the DRIP more efficient and to reflect recent changes in applicable Canadian securities legislation. The main change is that Units purchased under the DRIP with respect to a particular distribution date will now be purchased at a price based on the volume weighted average price of all Units traded on the Toronto Stock Exchange on the ten (10) trading days preceding the applicable record date on which there was trading in the Units of Eveready instead of being based on the ten (10) trading days preceding the applicable distribution date.

The DRIP enables unitholders of Eveready to without charge automatically reinvest monthly cash distributions in additional Units of Eveready. Unitholders who elect to participate will see their periodic cash distributions automatically reinvested in Units of Eveready at a price equal to 95% of the volume weighted average price of all Units traded on the Toronto Stock Exchange on the ten (10) trading days preceding the applicable record date on which there was trading in the Units of Eveready.

"The DRIP is a convenient and no-cost way for Eveready unitholders to continue investing in Eveready on an incremental and affordable basis," comments Rod Marlin, Eveready's President and Chief Executive Officer.

Eveready's DRIP is administered by Computershare Trust Company of Canada. Interested registered unitholders can also obtain an information package and the necessary registration forms from, or direct any inquiries/concerns regarding the DRIP to, Computershare Trust Company of Canada via telephone at 1-800-564-6253 or via mail at Eveready Income Fund c/o Computershare Trust Company of Canada, 100 University Avenue, 9th Floor, Toronto, Ontario, M5J 2Y1, Attention: Dividend Reinvestment Department. Interested unitholders who hold their units through a broker should contact their broker for registration instructions.

Eveready is a growth oriented income fund that provides industrial and oilfield services, health, safety, and environmental services and oilfield equipment rental services to the energy, resource, and manufacturing sectors. The Units of Eveready trade on the Toronto Stock Exchange under the trading symbol "EIS.UN".

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