Rainmaker Income Fund

Rainmaker Income Fund

April 21, 2008 20:32 ET

Rainmaker Names New Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2008) - Rainmaker Income Fund (the "Fund") (TSX:RNK.UN) and its subsidiary Rainmaker Entertainment Inc. ("Rainmaker") today announced the appointment of Bryant Pike as Chief Financial Officer. Mr. Pike joins the company from Insight Film Studios Ltd., Vancouver, where he formerly served as Chief Financial Officer and has been acting as a consultant. Former CFO, Mike Barnsley, will stay with the company to assist with its first quarter financial reporting process and to help with the transition of his successor into the role.

"Bryant's strong financial background, broad production and financing experience and industry knowledge makes him a perfect fit for Rainmaker," said Warren Franklin, Chief Executive Officer. "Bryant is a highly-regarded and industry knowledgeable CFO, and we are looking forward to having him join our team."

About outgoing CFO Mr. Barnsley, Franklin adds, "I want to thank Mike for the leadership he has provided Rainmaker over the past decade. He has created and managed a first class Finance Department and has been a contributor to our growth and strategic initiatives, including acquisitions and divestitures."

"I am thrilled to join the Rainmaker team at this dynamic juncture in the company where I can bring together my professional experience with my passion for the industry," said Mr. Pike. "It's a great opportunity to join Rainmaker at this pivotal time and support the company's growth initiatives in the years ahead."

During his time at Insight Film Studios, Mr. Pike oversaw the production and financing for over 25 television films, five feature films, two television series, and a number of factual/documentary television productions. During this tenure he oversaw a production volume increase from $50 million per year to nearly $110 million per year. Prior to joining Insight, Bryant served as a manager of assurance services for Ernst & Young LLP, servicing a variety of public reporting entities and entertainment clients.


Additional information and other publicly filed documents relating to the Fund, including the annual audited consolidated financial statements and related management discussion and analysis plus the Annual Information Form 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 company producing computer generated animated feature films, television, direct to DVD films, 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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