Rainmaker Income Fund

Rainmaker Income Fund

April 13, 2007 17:50 ET

Rainmaker Income Fund Announces the Formation of a Special Committee to Review Strategic Alternatives

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 13, 2007) - Rainmaker Income Fund (the "Fund") (TSX:RNK.UN), a leading provider of services to the entertainment industry, announces the formation of a Special Committee of independent trustees. In light of recent proposed tax changes to income trusts and the Fund's increasing emphasis on growing its visual effects and computer animation businesses, the Fund is forming a Special Committee to review all aspects of its operations. The Committee will consider the appropriateness of the income trust structure, the Fund's capital structure, the distribution policy and any other strategic alternatives as deemed appropriate. The Committee may retain one or more investment advisors as necessary to assist in this process.

The Fund is an unincorporated open-ended limited purpose trust located in Vancouver, British Columbia. The Fund indirectly owns 100% of Rainmaker Entertainment Inc. ("REI"), EP Canada Limited Partnership ("EP") and Canada Film Capital Limited Partnership ("CFC"). REI is an award-winning visual effects, computer generated animation and post production company with a 27 year history providing superior service, innovative technology and world-class talent to design, build and shape content for feature films, television, direct to DVD, games and commercials. EP is a leading provider of payroll services for the film and television industry across Canada. CFC provides tax credit administration services and financing of tax credits through factoring for film and television productions across Canada.

This press release and any related attachments may contain forward-looking statements that involve a number of risks and uncertainty. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the periodic reports and documents filed by the Fund with The Toronto Stock Exchange and other regulatory authorities. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and the Fund undertakes no obligation to update the forward-looking statements should there be a change in conditions, or in management's estimates or opinions.

The contents of this press release have neither been approved nor disapproved by any regulatory authority.

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