Excel India Trust
TSX : EXI.UN

Excel India Trust
Excel Funds Management Inc.

Excel Funds Management Inc.

July 17, 2008 12:55 ET

Excel India Trust (TSX:EXI.UN) Announces Quarterly Distribution of $0.075 Per Unit

TORONTO, ONTARIO--(Marketwire - July 17, 2008) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES.

Excel Funds Management Inc. ("Excel Funds") announces the quarterly distribution of $0.075 per unit for Excel India Trust (the "Trust")(TSX:EXI.UN). The distribution will be paid on October 15, 2008 to unitholders of record on September 30, 2008.

The decrease in the amount of the distribution reflects a conservative response to the present market conditions affecting both North America and India. With forward looking, long-term growth in mind, it is consistent with Excel Funds Management's investment strategy to, at present, conserve capital and look for opportunities in the form of additional investments in India while valuations are attractive. In addition, the yield on the new Trust distribution, at the current Trust price, is more in line with recent declines in interest rates.

The Trust is designed to provide investors with exposure to an actively managed portfolio consisting of equity securities of Indian companies. This exposure is achieved through a fund-on-fund structure designed to minimize withholding taxes on capital gains in India and avoid certain investment restrictions that would otherwise apply to foreign investors investing in India.

Units of the Trust trade on the Toronto Stock Exchange under the symbol EXI.UN.

Founded in 1998, Excel Funds is a specialized fund management company that focuses exclusively on investment opportunities in emerging markets. Excel Funds also manages the Excel India Fund, Excel China Fund, Excel Chindia Fund, Excel Income and Growth Fund, Excel Money Market Fund and the Excel Emerging Europe Fund.

This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect Excel's current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Excel cannot assure that the forward-looking statements contained in this news release will be realized.

Contact Information

  • Excel Funds Management Inc.
    Jessica McInnis
    Marketing Manager
    1-888-813-9813