EVEREADY INCOME FUND
TSX : EIS.UN

EVEREADY INCOME FUND

October 03, 2005 08:30 ET

Eveready Increases Monthly Distribution to $0.04 per Unit and Completes $60 Million Interest Only Credit Facility

EDMONTON, ALBERTA--(CCNMatthews - Oct. 03, 2005) - Eveready Income Fund (TSX:EIS.UN) ("Eveready") announces that the board of trustees of Eveready has declared a cash distribution of $0.04 per unit for the month of October to Eveready's unitholders. This payment represents $0.48 per unit on an annualized basis and is an increase from the previous monthly distribution of $0.03 per unit. Payment will be made on or about November 15, 2005 to unitholders of record as of the close of business on October 31, 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 successfully completed its previously announced $60 million revolving extendable interest only senior credit facility with an affiliate of GE Energy Financial Services. The purpose of the credit facility is to refinance existing term indebtedness, subordinated debt and operating leases; and to fund future capital expenditures and acquisitions.

Eveready is a growth oriented income fund that provides industrial cleaning, oilfield, and environmental services to the energy, resource, and manufacturing sectors. The units of Eveready are listed for trading 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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