Ameristar RSP Income Trust: Results for the Six Months Ending June 30, 2005.

TORONTO -- AMERISTAR RSP INCOME TRUST ("AmeriStar") (TSX:RSP.UN) today announced its semi-annual financial results for the six months ending June 30, 2005.

Six monthly payments totaling $0.53 per unit were made under the variable distribution program during the year. A total of 67 distributions totaling $9.04 have been paid since inception. The net asset value per unit was $12.18 as at June 30, 2005.

Selected Financial Information from the Semi-Annual Statement of
 Operations:
(millions)

                                Six months ending   Six months ending
                                    June 30, 2005       June 30, 2004
                                                $                   $

Income                                       .050                .100

Expenses                                     .078                .103
                                             ----                ----

Net investment income                       (.028)              (.003)

Realized option premiums
 and gain on sale of
 investments                                (.296)              (.558)

Change in unrealized
 appreciation of
 investments                                 .344                .726
                                             ----                ----

Increase in net assets from
 operations before
 distributions                               .020                .165

AmeriStar was launched in December 1999. It invests primarily in corporations that are included in the S&P 500. AmeriStar is managed in a manner to allow it to remain as Canadian content within tax sheltered RRSP, RRIF and DPSP plans. To generate additional returns above the dividend and interest income earned, covered call options  are written on all or part of the securities in the portfolio. Quadravest Capital Management Inc. actively manages the portfolio.

Ameristar RSP Income Trust (TSX:RSP.UN)