Foremost Income Fund Announces First Quarter 2011 Cash Distribution

CALGARY, ALBERTA--(Marketwire - March 11, 2011) - Foremost Income Fund (TSX:FMO.UN) (the "Fund") has declared its first quarter (Q1-2011) cash distribution of $0.10 per trust unit. Distributions are payable Thursday, March 31, 2011 to Unitholders of Record as at Tuesday, March 15, 2011.

On behalf of the Trustees

Foremost Income Fund

James T. Grenon, Trustee

FORWARD-LOOKING STATEMENTS

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 included statements regarding the Fund's plans to delist, the Fund's intention to proceed with a unitholders' meeting and information regarding the Trustees' views of the future prospects and tax treatment of the Fund, the Fund's expectations regarding the future availability of cash to meet redemption requests and the Trustee's expectations for redemption prices in December 2010 and January 2011. 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.