MONTREAL, June 13 /CNW Telbec/ - As previously indicated in its
management information circular dated May 16, 2008 for the annual and special
meeting of unitholders to be held on June 19, 2008, Aeroplan Income Fund
(TSX: AER.UN) announced today that a cash distribution in the amount of $0.07
per Fund unit will be paid on July 15, 2008 for the month of June. Provided
Aeroplan's proposed arrangement to reorganize its current income trust
structure into a corporate structure is approved by unitholders at the annual
and special meeting and receives the required approval of the Superior Court
of Québec, the distribution will be paid to unitholders of record at the close
of business on June 24, 2008.
    If the proposed arrangement becomes effective on or about June 25, 2008,
as currently scheduled, the June 2008 distribution will be the last
distribution paid by the Fund to its unitholders. It is anticipated that the
first post-arrangement dividend payable to shareholders of Groupe Aeroplan
Inc. will be declared in respect of the quarter ended September 30, 2008 and
paid on November 17, 2008.

    Caution Concerning Forward-Looking Statements

    Certain statements in this news release may contain forward-looking
statements. Forward-looking statements, by their nature, are based on
assumptions and are subject to important risks and uncertainties. Any
forecasts or forward-looking predictions or statements cannot be relied upon
due to, amongst other things, changing external events and general
uncertainties of the business and its corporate structure. Results indicated
in forward-looking statements may differ materially from actual results for a
number of reasons, including without limitation, dependency on top
accumulation partners, Air Canada or travel industry disruptions, reduction in
activity, usage and accumulation of Aeroplan Miles, retail market or economic
downturn, greater than expected redemptions for rewards, industry competition,
supply and capacity costs, unfunded future redemption costs, changes to the
Aeroplan and Nectar Programs, seasonal nature of the business, regulatory
matters, VAT appeal, foreign ownership limitations and impact on mutual fund
trust status and value and liquidity of units, income tax matters, SIFT Rules,
conversion to corporate structure, as well as the other factors identified
throughout the MD&A. The forward-looking statements contained in this
discussion represent the Fund's expectations as of June 13, 2008, and are
subject to change after such date. However, the Fund disclaims any intention
or obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise, except as required
under applicable securities regulations.

    About Aeroplan Income Fund

    Aeroplan Income Fund is an unincorporated, open-ended trust established
under the laws of the Province of Ontario. Aeroplan Income Fund is the owner
of Aeroplan Limited Partnership, Canada's premier loyalty marketing company
and operator of the Aeroplan loyalty program and Loyalty Management Group
Limited, operator of Nectar, the United Kingdom's leading coalition loyalty
program.
    For more information about Aeroplan, please visit www.aeroplan.com.