Rogers Sugar Income Fund
TSX : RSI.UN

Rogers Sugar Income Fund

March 22, 2006 16:26 ET

Product Withdrawal Will Add One-Time Cost of Can. $500,000 to $1.5 Million to 2nd Quarter 2006 Results

MONTREAL, CANADA--(CCNMatthews - March 22, 2006) -

This media release is not for distribution to the united states newswire services or for dissemination in the united states

Lantic Sugar Limited ("Lantic"), a wholly-owned subsidiary of Rogers Sugar Income Fund (the "Fund") (TSX:RSI.UN) today advised that some small metallic strands inadvertently entered its distribution system for certain products shipped to the Ontario and Maritime markets. Lantic immediately took the appropriate steps to investigate, address and correct the issue and to retrieve the product in question from its distribution system.

The incident which caused this problem was limited to one of the ten sugar screeners used for grading sugar at the Montreal refinery. The defective sugar screener was stopped within three hours of the incident and has now been repaired. This event did not impact the quality of products from the other sugar screeners nor the refinery's total capacity.

Lantic has notified all affected customers of the matter and advised these same customers to take all necessary precautionary measures.

Lantic will absorb the cost of the withdrawal, shipping and re-processing of all sugar thought to contain the above-mentioned foreign material. These costs are currently estimated at between Can. $500,000 and $1.5 million.

These precautionary measures are being taken to ensure the integrity of Lantic's products.

Forward looking statement

This document contains certain forward-looking statements, which reflect the current expectations of the Fund and Lantic with respect to a particular event. Wherever used, the words "may," "will," "anticipate," "intend," "expect," "plan," "believe," and similar expressions identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at which, such performance or results will be achieved. Forward-looking statements, including without limitation as to the cost estimates referred to above, are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events, and are subject to the risks and uncertainties outlined in this document that could cause actual performance or results to differ materially from those reflected in the forward-looking statements or current expectations.

Contact Information