Spinrite Income Fund

Spinrite Income Fund

March 17, 2005 08:00 ET

Spinrite Income Fund Announces March Distribution


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SPINRITE INCOME FUND

TSX SYMBOL: SNF

MARCH 17, 2005 - 08:00 ET

Spinrite Income Fund Announces March Distribution

LISTOWEL, ONTARIO--(CCNMatthews - March 17, 2005) - Spinrite Income Fund
(TSX:SNF) announced today its cash distribution of $0.08333 per unit for
the period from March 1, 2005 to March 31, 2005. This distribution will
be made to unitholders of record at the close of business on March 31,
2005, and will be payable on April 15, 2005.

Spinrite Income Fund is an open-ended, limited purpose trust established
under the laws of the Province of Ontario, which indirectly holds an 80%
interest in Spinrite Limited Partnership ("Spinrite"). Spinrite is the
largest producer and marketer of craft yarn in Canada and one of the
largest and fastest growing in the United States. Established in 1952,
Spinrite researches, develops, manufactures and markets a broad variety
of consumer craft yarns. The company also supports its market with
patterns that provide customers with creative ideas for knitted
products. Spinrite has approximately 600 employees at its fully
integrated manufacturing and distribution centre in Listowel, Ontario.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Spinrite Income Fund
    Ryan Newell
    Chief Financial Officer
    (519) 291-3780, ext. 278
    (519) 291-3232 (FAX)
    rnewell@spinriteyarns.com
    or
    BarnesMcInerney Inc.
    John Vincic
    Executive Vice President, IR Division
    (416) 367-5000
    (416) 367-5390 (FAX)
    jvincic@barnesmcinerney.com