Newport Partners Income Fund
TSX : NPF.UN

February 19, 2007 14:00 ET

Newport Partners Income Fund Announces February 2007 Distribution and Normal Course Issuer Bid Update

TORONTO, ONTARIO--(CCNMatthews - Feb. 19, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Newport Partners Income Fund ("Newport" or "the Fund")(TSX:NPF.UN) announced today that a cash distribution in the amount of $0.08333 per Unit, covering the period from February 1 to February 28, 2007, will be paid on March 15, 2007 to Unitholders of record at the close of business on February 28, 2007. Newport's current annual distribution is $1.00 per Unit.

NCIB Update

Since the establishment of its normal course issuer bid on December 13, 2006, Newport has purchased and cancelled 627,500 units at an average price of $6.42 per unit. Management and the Trustees of the Fund are of the view that purchases of units of the Fund from time to time at the prevailing market price would be a worthwhile investment and in the best interests of the Fund and its unitholders.

ABOUT NEWPORT

Newport is an unincorporated, open-ended trust created to hold through the Company's investment in Newport Partners Commercial Trust, interests in Newport Private Yield LP, ("NPY") a limited partnership established under the laws of the Province of Ontario. Newport began trading on the TSX on August 8, 2005 under the symbol NPF.UN.

Newport is a leading Canadian asset manager. Newport invests in the private business asset class -- a major growth engine of the Canadian economy. Our objective is to make long-term equity investments in leading private businesses that have a track record of strong earnings and potential for future growth. Newport's portfolio currently consists of 17 high-quality businesses representing a diverse cross-section of the Canadian economy. Newport unitholders participate in the cash flows, growth and diversification of the portfolio through monthly distributions. Newport's management has decades of investment experience and a significant ownership position.

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