Tree Island Wire Income Fund

Tree Island Wire Income Fund

June 30, 2008 16:00 ET

Tree Island Announces Trustee Unit Acquisition Plan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2008) - Tree Island Wire Income Fund (the "Fund") (TSX:TIL.UN) today announced that it has implemented a Trustee Unit Acquisition Plan (the "Plan") to facilitate purchases of the Fund's units by Trustees of the Fund. Under the Plan, the Fund will remit Trustee fees to an independent administrative agent (the "Administrator") who will make regular quarterly purchases of units of the Fund on behalf of the Trustees. The purchases will be made in the open market through the facilities of the Toronto Stock Exchange and could include circumstances when Trustees would ordinarily not be permitted to purchase units of the Fund due to Fund-imposed trading blackout periods. Purchases will be made by the Administrator in accordance with the terms of the Plan, the parties' written administration agreement, and applicable Canadian securities laws. The Plan constitutes an "automatic purchase plan" for the purposes of applicable Canadian securities legislation.

Fund Profile

The Fund holds a 100% ownership interest in Tree Island Industries Ltd. ("Tree Island"), one of North America's largest producers of wire and fabricated wire products. The Fund was launched on November 12, 2002 with the completion of an initial public offering. There are currently 21,960,447 units of the Fund outstanding. The Fund's performance depends entirely on the performance of Tree Island.

Tree Island Profile

Headquartered in Richmond, British Columbia, Tree Island Industries produces wire products for a diverse range of construction, agricultural, manufacturing and industrial applications. Its products include bright wire, stainless steel wire and galvanized wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products, engineered structural mesh, fencing and other fabricated wire products. The company markets these products under the Tree Island, TI Imports and HK Universe brand names. Tree Island also owns and operates a Hong Kong-based trading company that provides internationally sourced products to Tree Island and its customers worldwide.

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