April 18, 2008 17:01 ET

TerraVest Income Fund Announces April 2008 Distribution and Date of Annual Meeting

EDMONTON, ALBERTA--(Marketwire - April 18, 2008) - TerraVest Income Fund (TSX:TI.UN) announced today that it has declared a cash distribution of $0.04167 per Unit, effective with the distribution to be paid on May 15, 2008 to Unitholders of record on April 30, 2008. The ex-distribution date is April 28, 2008.

The Exchange Ratio for the Exchangeable Shares of TerraVest Industries Inc. has increased from 1.60074 to 1.61794, effective April 30, 2008. Further information about TerraVest's exchangeable shares and the calculation of the Exchange Ratio can be found at http://www.terravestindustries.com/invinfo_cash.htm. There are currently 1,410,642 Exchangeable Shares outstanding.

The Fund's 2008 annual general meeting of Unitholders will be held on May 14, 2008 at the Ivey ING Leadership Centre 130 King Street West, Toronto, Ontario at 10:30 a.m. (Eastern Time). The 2007 annual report and Management Information Circular will be mailed to Unitholders on or about April 23, 2008.

About TerraVest Income Fund

The Fund has invested in six businesses:

- RJV is one of the largest providers of wellhead processing equipment for the natural gas industry in western Canada.

- Diamond is a market leader in providing well servicing to the oil and natural gas sector in south-western Saskatchewan, with a growing presence in Alberta.

- Don Park is one of Canada's largest manufacturers and suppliers of heating, ventilation and air conditioning (HVAC) products.

- Stylus is one of Canada's leading made-to-order upholstered furniture manufacturers.

- Beco is the largest Canadian designer, manufacturer and importer of home textile products.

- Ezee-On manufactures heavy-duty equipment for large acreage grain farms and livestock operations.

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