Foremost Income Fund

Foremost Income Fund

December 12, 2006 17:11 ET

Foremost Income Fund Announces Fourth Quarter 2006 Cash Distribution

CALGARY, ALBERTA--(CCNMatthews - Dec. 12, 2006) - Foremost Income Fund (TSX:FMO.UN) (the "Fund") has declared its fourth quarter (Q4-2006) cash distribution of $0.40 per trust unit. Distributions are payable January 15, 2007 to Unitholders of Record as at December 31, 2006.

The Fund's fourth quarter (Q4-2006) distribution details are as follows:

Distribution per trust unit: $0.40
Ex-distribution date: December 27, 2006
Record date: December 31, 2006
Payment date: January 15, 2007

The Fund has a Distribution Reinvestment Program ("DRIP"). Under this DRIP, participating unitholders may elect to reinvest distributions paid into units of the Fund. To participate in this DRIP, a unitholder needs to enroll at least 3 business days before the applicable record date (next record date is December 31, 2006). The Fund has mailed a copy of the DRIP to all registered holders of units, which included information concerning how to participate in the DRIP and a number of question and answers regarding the DRIP. Previously participating registered unitholders will automatically have their distributions paid into units of the Fund unless they elect to opt out of this DRIP Program.

Beneficial holders of units should contact their broker to obtain a copy of the DRIP and to renew their previous election to participate in the DRIP.

On behalf of the Trustees

Foremost Income Fund

James T. Grenon, Trustee


"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.

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