Foremost Income Fund

Foremost Income Fund

September 15, 2005 17:56 ET

Foremost Declares Third Quarter 2005 Cash Distribution to Unitholders

CALGARY, ALBERTA--(CCNMatthews - Sept. 15, 2005) - Foremost Industries Income Fund (TSX:FMO.UN) (the "Fund") has declared its third quarter (Q3-2005) cash distribution of $0.15 per trust unit. Distributions are payable September 30, 2005 to Unitholders of Record as at September 23, 2005.

The Fund's third quarter (Q3-2005) distribution details are as follows:

Distribution per trust unit: $0.15
Ex-distribution date: September 21, 2005
Record date: September 23, 2005
Payment date: September 30, 2005

The Fund is an income trust that holds complementary manufacturing businesses that are recognized leaders in their fields. Through its separate business models, the Fund's operating entities design, manufacture and sell: drilling equipment and tooling, off-road vehicles, oil-treating systems, pressure vessels, petroleum storage tanks, gas separation and steam generator equipment.

On behalf of the Trustees
Foremost Industries Income Fund

(signed: J.T. Grenon)

James T. Grenon, Trustee


"Certain statements in this press 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 press 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 press 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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