Liquor Stores Income Fund

Liquor Stores Income Fund

May 16, 2005 13:41 ET

Liquor Stores Income Fund Announces May Cash Distribution

EDMONTON, ALBERTA--(CCNMatthews - May 16, 2005) - Liquor Stores Income Fund (the
"Fund") (TSX:"LIQ.UN") announced today a cash distribution of $0.08958 per trust
unit for the month of May, 2005. The distribution will be paid on June 15, 2005
to holders of record of trust units on May 31, 2005. On February 14, 2005, the
Fund announced that it intended to increase its annual distribution by $0.075
per unit from $1.00 to $1.075 ($0.08958 per month), commencing with the
distribution to be paid on June 15, 2005, to Unitholders of record on May 31,
2005, subject to the completion of the acquisition of 10 additional stores
announced at that time. These acquisitions have now been completed and the Fund
is proceeding with the increase in distributions.

The Fund's policy is to pay cash distributions on or about the 15th of each
month to unitholders of record on the last business day of the preceding month.

About Liquor Stores Income Fund

The Fund is a publicly traded Canadian Income Fund that participates in the
retail liquor industry in Alberta and British Columbia through its 59.34%
interest in Liquor Stores Limited Partnership ("Liquor Stores LP"). Liquor
Stores Income Fund is Canada's only publicly traded entity with interests
exclusively in the retailing of liquor products.

The Fund is the largest liquor retailer in Alberta by number of stores. The Fund
currently operates 65 stores, 3 of which are located in British Columbia. In the
first quarter of 2005 the Fund completed the acquisition of 13 new stores in
Alberta, and has recently opened two new liquor stores in British Columbia.

The Fund's Units trade on the Toronto Stock Exchange under the symbol LIQ.UN.

Additional information about Liquor Stores Income Fund is available at and the Fund's website at

Contact Information

  • Liquor Stores GP Inc.
    Irv Kipnes
    Chief Executive Officer
    (780) 944-9994 ext. 6
    Liquor Stores GP Inc.
    Tom Orysiuk
    Chief Financial Officer
    (780) 917-4179