Newport Partners Income Fund
TSX : NPF.UN

September 19, 2007 14:00 ET

Newport Partners Income Fund Announces September 2007 Distribution

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2007) -

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

Newport Partners Income Fund ("the Fund")(TSX:NPF.UN) announced today that a cash distribution in the amount of $0.08333 per Unit, covering the period from September 1 to September 30, 2007, will be paid on October 15, 2007 to Unitholders of record at the close of business on September 28, 2007. The Fund's current annual distribution is $1.00 per Unit.

Year to date, the Fund has bought back and cancelled 1,511,500 units at an average price of $6.12 under its Normal Course Issuer Bid.

ABOUT THE FUND

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

Newport Partners Income Fund provides a simple way for investors to own private equity investments. Through ownership of the Fund, investors gain access to a professionally-managed diversified portfolio of successful Canadian private businesses that offers income, growth, diversification and liquidity. The Fund's core business is asset management. Its investment philosophy is to make long-term equity investments in leading or niche private businesses that have a track record of strong earnings, and potential for future growth. The Fund seeks to minimize risk through diversification, prudent use of leverage and investing in competent operating management who are known and trusted by the Fund's management. The Fund's portfolio currently consists of 18 private company holdings representing a diverse cross-section of the Canadian economy. The Fund's management has decades of investment experience and a significant ownership position in the Fund.

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