November 17, 2005 08:30 ET

Eveready Announces November Distribution and Grant of Unit Options

EDMONTON, ALBERTA--(CCNMatthews - Nov. 17, 2005) - Eveready Income Fund ("Eveready" or the "Fund") (TSX:EIS.UN) announces that the board of trustees of Eveready has declared a cash distribution of $0.04 per unit for the month of November to Eveready's unitholders. This payment represents $0.48 per unit on an annualized basis. Payment will be made on or about December 15, 2005 to unitholders of record as of the close of business on November 30, 2005. Investors are cautioned that monthly distributions are always subject to approval from the board of trustees and may be increased, decreased or suspended by the board at any time.

Eveready also announces that it has granted unit options ("Options") to 140 employees and 6 trustees of the Fund to acquire up to 1,255,000 units of the Fund at a price of $5.00 per unit. These Options have been granted in accordance with the Fund's Unit Option Plan. The purpose of the Option grant is to attract and retain quality personnel by affording such persons an opportunity to acquire a proprietary interest in the units of the Fund.

Rod Marlin, Eveready's President and Chief Executive Officer comments "The key factor that differentiates Eveready from its competitors is the quality and professionalism of our employees. The option grant announced today will be the first part of a broader Employee Participation Plan that Eveready will be implementing in 2006."

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".

This press release contains forward-looking statements subject to various risk factors and uncertainties, which may cause the actual results, performances or achievements of Eveready to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, fluctuations in the market for oil and gas and related products and services, political and economic conditions, the demand for services provided by Eveready, industry competition and Eveready's ability to attract and retain both customers and key personnel.

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