TERRAVEST INCOME FUND
TSX : TI.UN

TERRAVEST INCOME FUND

July 15, 2008 18:13 ET

TerraVest Income Fund Announces Distribution Increase and July 2008 Distribution

EDMONTON, ALBERTA--(Marketwire - July 15, 2008) - TerraVest Income Fund (TSX:TI.UN) announced today that it has increased its monthly distribution by $0.0133 from $0.04167 per Unit to $0.055 per Unit effective with the distribution to be paid on August 15, 2008 to Unitholders of record on July 31, 2008. The ex-distribution date is July 29, 2008. The increase in unitholder distributions represents a new annualized distribution of $0.66 per Unit, up from $0.50 per Unit, and is due to the improved financial performance of the Fund's portfolio businesses.

The Exchange Ratio for the Exchangeable Shares of TerraVest Industries Inc. has increased from 1.65132 to 1.66516, effective July 31, 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.

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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