Sterling Shoes Income Fund
TSX : SSI.UN

Sterling Shoes Income Fund

April 20, 2007 16:10 ET

Sterling Shoes Income Fund Announces Monthly Cash Distribution

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 20, 2007) - Sterling Shoes Income Fund (the "Fund") (TSX:SSI.UN), a Vancouver-based, national specialty footwear retailer, today announced that its Board of Trustees has approved a cash distribution of $0.12 per trust unit for the period from April 1, 2007 to April 30, 2007, payable on May 15, 2007 to unitholders of record at the close of business on April 30, 2007.

Through a series of increases, the Fund has increased its monthly payout more than 34% since the Fund's initial public offering in July 2005. Furthermore, the Fund made special cash distributions of $0.47 per unit for 2006. These special cash distributions were paid in tranches on January 15, 2007 and March 30, 2007. These special cash distributions are not indicative of future performance.

About Sterling Shoes Income Fund

Sterling Shoes Income Fund is a leading Vancouver-based footwear retailer offering a broad selection of private label and brand name shoes and accessories in five Canadian provinces through its five separate retail banners: Sterling, Joneve, Shoe Warehouse, Freedman's and Gia. Since 1987, Sterling Shoes has grown from five shopping mall locations to 129 stores (as at April 20, 2007) located in high-traffic, high-visibility locations within enclosed shopping malls, on high streets and in strip malls. The Fund currently employs over 1,000 employees, and sales of the business for the 12 month period ended December 31, 2006 were $102.6 million. The Fund's units are listed on the Toronto Stock Exchange under the symbol SSI.UN.

Additional information about Sterling Shoes Income Fund can be found in the disclosure documents filed by Sterling Shoes Income Fund with the securities regulatory authorities, available at www.sedar.com.

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