August 16, 2006 08:03 ET

Eveready Income Fund Ends Discussions Regarding the Acquisition of an Oilfield Equipment Rental Business

EDMONTON, ALBERTA--(CCNMatthews - Aug. 16, 2006) - Eveready Income Fund ("Eveready" or the "Fund")(TSX:EIS.UN) announces that it has ended discussions regarding the acquisition of an oilfield equipment rental business that Eveready previously announced on June 9, 2006. Eveready and the vendors were unable to come to a final agreement on certain terms of the acquisition. The conditional letter of intent has been terminated.

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.

Contact Information

  • Eveready Income Fund
    Rod Marlin
    President & CEO
    (780) 451-6075
    (780) 451-2142 (FAX)
    Eveready Income Fund
    John M. Stevens
    Senior VP & CFO
    (780) 451-6075
    (780) 451-2142 (FAX)
    Website: www.evereadyincomefund.com