October 19, 2005 08:30 ET

Eveready Secures 3 Year Contract with Major Oil & Gas Company

EDMONTON, ALBERTA--(CCNMatthews - Oct. 19, 2005) - Eveready Income Fund (TSX:EIS.UN) ("Eveready") announces that it has secured (through its subsidiary Winterhawk Enterprises (Provost) Ltd.) a 3 year contract to provide hydro excavation ("Hydro-Vac") services to a major oil & gas company. Through this agreement, Eveready will become the primary supplier of Hydro-Vac services to this customer in Western Canada. This agreement could generate initial revenue of approximately $19 million over the 3 year term with the potential to grow significantly over this period.

Rod Marlin, Eveready's President and Chief Executive Officer, comments "Eveready is very pleased to establish this long term agreement. The current trend in the oil and gas industry is to reduce the number of service providers retained by them by preferring those who can provide a broad range of high quality services. We believe that this agreement will help establish Eveready as a preferred service provider. One of our strategic goals will be to further develop this relationship to provide related oilfield and industrial services."

Eveready is a growth oriented income fund that provides industrial and oilfield services, and health, safety 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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