XS Cargo Income Fund

XS Cargo Income Fund

June 21, 2005 14:56 ET

XS Cargo Income Fund Announces Initial Cash Distribution

EDMONTON, ALBERTA--(CCNMatthews - June 21, 2005) - XS Cargo Income Fund (the
"Fund") (TSX: "XSC.UN") announced today its initial cash distribution of $0.1387
per trust unit for the period from closing of the Fund's initial public offering
on May 17, 2005 to June 30, 2005. The distribution will be paid on July 15, 2005
to holders of record of trust units on June 30, 2005.

The Fund's policy is to pay cash distributions on or about the 15th of each
month to unitholders of record on the last business day of the preceding month.
Subsequent regular distributions in the amount of $0.09375 per trust unit are
expected to be made in each month thereafter on the 15th day of the month to
unitholders of record on the last business day of the preceding month,
commencing on or about August 15, 2005.

The Fund is an open-ended trust that holds, indirectly, a 51% interest in XS
Cargo Limited Partnership ("XS Cargo LP"). XS Cargo LP is one of the largest
broadline closeout retailers in Canada with 23 stores in the provinces of
Alberta, British Columbia, Saskatchewan, Manitoba and Ontario. The Fund's trust
units are listed on the Toronto Stock Exchange under the symbol "XSC.UN".

Contact Information

  • XS Cargo Income Fund
    Michael McKenna
    President and Chief Executive Officer
    (780) 413-4296
    XS Cargo Income Fund
    Jeff Rootman
    Vice-President, Finance and Chief Financial Officer
    (780) 413-4296
    Website: www.xscargo.com