VOXCOM Income Fund
TSX : VOX.UN

VOXCOM Income Fund

May 20, 2005 08:47 ET

VOXCOM Income Fund Completes Initial Public Offering

EDMONTON, ALBERTA--(CCNMatthews - May 20, 2005) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

VOXCOM Income Fund (TSX:VOX.UN) (the "Fund") announced that it has completed its initial public offering of 5,750,000 units at a price of $10 per unit for total gross proceeds of $57,500,000. The Fund has also granted to the underwriters of the offering an over-allotment option to acquire within 30 days following closing an additional 563,782 units on the same terms and conditions.

The Fund used the proceeds of the offering to acquire all of the common shares of VOXCOM and to repay a portion of VOXCOM's existing credit facilities.

The offering was underwritten by a syndicate led by RBC Capital Markets and BMO Nesbitt Burns Inc., and including CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc. and First Associates Investments Inc.

The Fund's units have commenced trading on the Toronto Stock Exchange under the symbol VOX.UN.

The initial monthly cash distribution of the Fund for the period from closing to and including June 30, 2005 is expected to be paid on or about July 15, 2005 and is estimated to be $0.1279 per unit. Subsequent regular distributions in the estimated amount of $0.0917 per unit are anticipated to be paid each month thereafter commencing August 15, 2005.

VOXCOM is a national leader in home and business security systems, serving more than 102,000 customers across Canada. VOXCOM provides monitoring services for security alarm systems and LifeCall emergency response systems to all provinces from its head office and call centre in Edmonton, and has branch offices in major centres across the country. VOXCOM also maintains extensive marketing partnerships and a network of Authorized Dealers throughout Canada. Information about VOXCOM Income Fund can be found at http://www.voxcomincomefund.com.

These securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States of America.

Certain statements made in this news release are forward-looking and subject to various risks and uncertainties. Such forward-looking statements are based on management's beliefs and assumptions regarding the information currently available. Actual results could differ materially from those expressed in the forward-looking statements. Factors that could cause results to vary include, among other things, those expressed in the prospectus filed with Canadian securities regulatory authorities. All data presented in this news release should be read in conjunction with the prospectus.

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