TORONTO: The Board of Directors of Canadian Income Management CIM Limited, the administrator of Canadian Income Management Trust (the “Trust”) announces that it has suspended the distribution payment to the unitholders of record of the Trust as of November 30, 2006. This announcement is the result of a decision by the Board of Directors of Canadian Income Management Inc. (the “Corporation”), in its capacity as general partner of Canadian Income Management LP (the “Partnership”), that it will not be making the November 30, 2006 payment on the residual units of the Partnership, 99% of which are held by the Trust, until further notice, due to current market conditions and the Corporation’s obligations in respect of the debentures. The October distribution to unitholders of record of the Trust as of October 31, 2006 will be paid on November 15, 2006, as previously announced. The Board of Directors of the Trust and the Corporation will review future distributions on a month-to-month basis to ensure the best interest of unit and debenture holders.
Canadian Income Management: The investment objectives of the Corporation are (i) to provide debentureholders with semi-annual interest payments at a rate of 7% per annum, and (ii) to preserve and potentially enhance the value of the portfolio in order to repay the debentures at maturity.The investment objectives of the Trust are (i) to provide cash distributions, and (ii) to preserve and potentially enhance the value of the portfolio.
More information: Investor Services (broker/investor inquiries) or Kevin Cohen (General Counsel) Tel: 1-888-246-6656 Fax: 416-364-1197
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