Arriscraft International Income Fund Implements Unitholder Rights Plan.

CAMBRIDGE, Ontario -- Arriscraft International Income Fund ("Arriscraft" or the "Fund") (TSX:AIN.UN) announced today the implementation of a Unitholder Rights Plan. The Plan is designed to ensure the fair treatment of Arriscraft's unitholders in any transaction involving a change of control of the Fund and will provide the Board of Trustees  and Arriscraft's unitholders with adequate time to evaluate any unsolicited take-over bid and, if appropriate, to seek out alternatives to maximize unitholder value.

The Rights Plan was not implemented in response to any specific proposal to acquire control of Arriscraft and the Fund is not aware of any such proposal.

The Rights Plan takes effect immediately and will continue in effect until the annual meeting of unitholders expected to be held in May 2006. It is Arriscraft's intention to seek unitholder approval to extend the Rights Plan at the annual meeting for a three-year period thereafter.

The Rights Plan is similar to other rights plans adopted by many Canadian income trusts and corporations. Until the occurrence of certain specific events, the rights will trade with the units of the Fund and be represented by any certificates for such units. The rights become exercisable only when a person, including any party related to it or acting jointly with it, acquires or announces its intention to acquire 20 percent or more of the outstanding units of the Fund without complying with the Permitted Bid provisions of the Rights Plan. Should a non-permitted bid be launched, each right would entitle each holder of units (other than the acquiring person and persons related to it or acting jointly with it) to purchase additional units of the Fund at a 50 percent discount to the market price at the time.

It is not the intention of the Rights Plan to prevent take-over bids but to ensure their proper evaluation by the market. Under the Rights Plan, a Permitted Bid is a bid made to all unitholders for all of their units on identical terms and conditions that is open for at least 60 days. If at the end of 60 days at least 50 percent of the outstanding units, other than those owned by the offeror and certain related parties, have been tendered, the offeror may take up and pay for the units but must extend the bid for a further 10 days to allow all other unitholders to tender.

Arriscraft International Income Fund

The Fund owns the Arriscraft International manufactured stone, brick and natural stone masonry products business conducted through Arriscraft International LP, Arriscraft International LLC and certain affiliates in Canada and the United States. Arriscraft produces manufactured stone masonry products in Canada and the United States using its proprietary The Natural Edge(R) manufacturing process. These products offer the aesthetic and physical benefits of natural stone combined with the strength, simplicity of construction and cost-effectiveness of traditional masonry. Arriscraft also produces brick and natural stone masonry products and distributes its masonry products across Canada and most of the United States.

Arriscraft International Income Fund (TSX:AIN.UN)