Press Releases

  • Tuesday, July 15, 2008
    GENIVAR Income Fund Increases its Monthly Cash Distributions and Announces the End of its Subordination Period
        MONTREAL, July 15  - GENIVAR Income Fund (TSX:GNV.UN) (the
    "Fund") announced today that it has approved a 50% increase in the monthly
    distributions of the Fund to $0.125 per unit from $0.0833 per unit. On an
    annualized basis this equates to distributions of $ 1.50 per unit. This
    distribution increase will be effective for the Fund's July 2008 distribution
    that will be payable on August 15, 2008 to unitholders of record on July 31,
    2008.
        The increase in the monthly distributions is a direct result of the
    Fund's solid financial performance, its current financial condition and the
    level of activity anticipated for the balance of 2008.
        Of its 39.6% ownership interest in the Fund, GENIVAR Inc. holds 4,731,845
    units of GENIVAR LP (accounting approximately for 22% of the distributions
    made by the Fund) which were subordinated in accordance with the terms of the
    limited partnership agreement of GENIVAR LP. On July 15, 2008, the Audit
    Committee of the Fund determined that the subordination period for such units
    had terminated in accordance with its terms.
    
        About GENIVAR
    
        GENIVAR is a leading Canadian engineering services firm providing private
    and public sector clients with a full range of professional consulting
    services through all execution phases of a project including planning, design,
    construction and maintenance. Its clients, which are of varying sizes, fall
    into various market segments such as building, industrial and power, urban
    infrastructure, transportation and environment. GENIVAR is one of the largest
    engineering services firm in Canada in terms of number of employees with more
    than 3,000 managers, professionals, technicians and technologists and support
    staff in over 60 offices in Canada and abroad. www.genivar.com
    
    
    
    
    Marlène Casciaro, Director of Communications,
    GENIVAR Income Fund, (514) 340-0046, ext. 5184