Rainmaker Income Fund

Rainmaker Income Fund

November 14, 2007 17:48 ET

Rainmaker Income Fund Provides an Update of the Special Committee and Announces a Delay in Filing Interim Financial Statements for September 30, 2007

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - Rainmaker Income Fund (the "Fund" or "Rainmaker") (TSX:RNK.UN) is a leading provider of services to the entertainment industry. The Fund advises that it is unable to file its unaudited interim consolidated financial statements for the three and nine months ended September 30, 2007 (the "Financial Statements") by November 14, 2007 (the "Filing Deadline"), as defined in National Instrument 51-102 Continuous Disclosure Obligations. The Fund is in the process of negotiating a significant transaction consistent with the mandate given to its Special Committee of the Board of Trustees. Although there can be no assurance that this transaction will close, disclosure in the Financial Statements at this time would affect the ongoing business of Rainmaker and the negotiations.

The Fund has voluntarily applied to the British Columbia Securities Commission for an order precluding management and other insiders from trading pending the filing of the Financial Statements.


Additional information and other publicly filed documents relating to the Fund, including the interim financial statements and management discussion and analysis are available through the internet on the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval ("SEDAR"), which can be accessed at www.sedar.com.

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 computer generated animation, visual effects 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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