November 10, 2005 19:32 ET

Eveready Files Prospectus and Finalizes Terms of the Offering

EDMONTON, ALBERTA--(CCNMatthews - Nov. 10, 2005) -

This press release is not to be distributed to U.S. newswire services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities law.

Eveready Income Fund (TSX:EIS.UN) ("Eveready") announces that it has filed a final prospectus dated November 10, 2005 in all provinces of Canada, excluding Quebec, to qualify the issuance of a minimum of 5,000,000 units ("Units") and a maximum of 10,000,000 Units in Eveready at a price of $5.00 per Unit (the "Offering Price"). Under an agency agreement (the "Agency Agreement") dated November 10, 2005 among Eveready and Blackmont Capital Inc. (as lead agent), BMO Nesbitt Burns Inc., Acumen Capital Finance Partners Limited and Sprott Securities Inc. (the "Agents"), Eveready has appointed the Agents to offer the Units for sale on a best efforts basis, subject to compliance with all necessary legal requirements and to the terms and conditions contained in the Agency Agreement. Closing of the offering is expected to occur on or about November 23, 2005 or such later date as Eveready and the Agents may agree, but in any event no later than November 30, 2005. Eveready intends to use the proceeds of this offering to fund debt obligations incurred as a result of past acquisitions and past capital expenditure programs.

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.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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