TERRAVEST INCOME FUND
TSX : TI.UN

TERRAVEST INCOME FUND

May 20, 2008 09:43 ET

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

EDMONTON, ALBERTA--(Marketwire - May 20, 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 June 16, 2008 to Unitholders of record on May 30, 2008. The ex-distribution date is May 28, 2008.

The Exchange Ratio for the Exchangeable Shares of TerraVest Industries Inc. has increased from 1.61794 to 1.63554, effective May 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.

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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