Sterling Shoes Income Fund

Sterling Shoes Income Fund

July 17, 2007 19:26 ET

Sterling Shoes Income Fund Announces Monthly Cash Distribution

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 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 July 1, 2007 to July 31, 2007, payable on August 15, 2007 to unitholders of record at the close of business on July 31, 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 six separate retail banners: Sterling, Joneve, Shoe Warehouse, Freedman, Gia and Sterling Outlet. Since 1987, Sterling Shoes has grown from five shopping mall locations to 136 stores (as at July 17, 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 March 31, 2007 were $107.5 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

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