Stephenson's Rental Services Income Fund
TSX : RNT.UN

Stephenson's Rental Services Income Fund

March 30, 2006 10:15 ET

Stephenson's Rental Services Income Fund Appoints Chairman Of The Board Of Trustees

MISSISSAUGA, ONTARIO--(CCNMatthews - March 30, 2006) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

Stephenson's Rental Services Income Fund ("the Fund") (TSX:RNT.UN) announced today that Warren K. Walker has been appointed Chairman of the Board of Trustees of the Fund, effective March 15, 2006. Mr. Walker joined the Board of Trustees in January 2006 and replaces John Currie as Chairman. Mr. Currie will remain as a Trustee of the Fund.

Mr. Walker was Head of Global Risk Management for Scotiabank, responsible for credit, market and operational risk management across all of the Bank's business lines. He holds a Master of Business Administration and a Bachelor of Commerce degree, both from McGill University.

Warren Walker said "I am pleased to be able to assume the role of Chairman of the Board of Trustees of Stephenson's Rental Services Income Fund. The Fund, while new to the public sector, has been in business in Ontario for over 50 years, and after interfacing with management I look forward to the opportunity of helping them accomplish their business plan".

Willie Swisher, President and Chief Executive Officer said "We are excited to have Warren assume the role of Chairman, and believe his years in bank management and business acumen will serve the Fund well as we execute our growth strategies".

About Stephenson's:

Stephenson's is the leading general tool and equipment rental company in Toronto and the surrounding areas. Over the last 50 years, the Company has grown from a single location into one of the top ten equipment rental businesses in Canada.

Through its 19 branches, Stephenson's provides rental equipment and sells consumables to a diverse base of over 30,000 customers, divided into three primary categories: (i) residential, new construction; (ii) non-residential, new construction; and (iii) renovations.

Further information can be found on the Fund's web site at www.stephensons.ca and in the disclosure documents filed by with securities regulatory authorities available at www.sedar.com.

Certain statements in this press release may constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Fund to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "may," "will," "expect," "anticipate," "project," "believe," "plan" and other similar terminology. The risks and uncertainties are detailed from time to time in reports filed by the Fund with the securities regulatory authorities in all of the provinces and territories of Canada to which recipients of this press release are referred for additional information concerning the Fund, its prospects and the risks and uncertainties relating to the Fund and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of the Fund to be materially different from those contained in forward-looking statements. The forward-looking information contained in this press release is current only as of the date of this press release. There should not be an expectation that such information will in all circumstances be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise.

Contact Information

  • Stephenson's Rental Services Income Fund
    William D. Swisher
    Chief Executive Officer
    (905) 507-3650