Foremost Income Fund
TSX : FMO.UN

Foremost Income Fund

March 22, 2006 11:53 ET

Foremost Announces Distribution Dates & Amount

CALGARY, ALBERTA--(CCNMatthews - March 22, 2006) - Following the reorganization completed December 28, 2005, Foremost Income Fund (TSX:FMO.UN) ("Foremost, or the "Fund") announces that its distribution record date is March 31, 2006, and its distribution payment date is April 17, 2006, as mandated in the Fund's new Deed of Trust. This announcement supercedes any previous information to the contrary.

As anticipated in the reorganization, the Trustees have revisited Foremost's distribution program. It was decided to increase the distribution to $0.25 per unit for the first quarter 2006. The distribution policy, including the introduction of a Distribution Reinvestment Program, will be revisited shortly.

On behalf of the Trustees

Foremost Income Fund

(signed: J.T. Grenon)

James T. Grenon, Trustee

FORWARD LOOKING STATEMENT

"Certain statements in this news release may constitute "forward looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Fund to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this news release, such statements use words such as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward looking statements involve a number of risks and uncertainties, including: the impact of general economic conditions, industry conditions, changes in laws and regulations, increased competition, fluctuations in commodity prices and foreign exchange and interest rates and stock market volatility. The Fund is not undertaking to update any forward looking statements."


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