Rogers Sugar Income Fund Announces Closing of an $85 Million Treasury Offering of Convertible Debentures.

MONTREAL -- NOT FOR DISSEMINATION INTO THE UNITED STATES OR TO UNITED STATES WIRE SERVICES

Rogers Sugar Income Fund (the "Fund") (TSX:RSI.UN) announced the closing of its previously announced public offering of $85 million principal amount of 5.90% convertible unsecured subordinated debentures, which are convertible at the option of the holder into trust units of the Fund on the earlier of the maturity date and the business day immediately preceding the date fixed by the Fund for redemption, at a conversion price of $5.10 per trust unit.Interest on the debentures is payable semi-annually on June 29 and December 29, commencing on June 29, 2006.The debentures will mature on June 29, 2013.

The offering was completed on a bought deal basis through a syndicate of underwriters co-led by Scotia Capital Inc. and BMO Nesbitt Burns Inc. and including TD Securities Inc. and RBC Dominion Securities Inc.

The net proceeds of the offering will be used to redeem the approximately $85 million principal amount of the outstanding 9.50% convertible unsecured subordinated debentures of the Fund on March 7, 2006.

About Rogers Sugar Income Fund

The Fund is an open-ended, limited purpose trust established under the laws of the Province of Ontario. The Fund holds all of the common shares of Rogers Sugar Ltd. ("Rogers") and Lantic Sugar Limited ("Lantic").

Rogers has been in the sugar business since 1890 and is the leading refiner, processor, distributor and marketer of sugar products in Western Canada.As the sole sugar processor in Western Canada, Rogers supplies over 90% of the demand for refined sugar in that region. Rogers has two sugar processing facilities, a cane sugar  refinery in Vancouver, British Columbia and a beet sugar processing facility in Taber, Alberta.Rogers' sugar products are marketed primarily under the "Rogers" trade name and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups.

Lantic is one of two refiners in Eastern Canada and operates a cane sugar refinery in Montreal, Quebec.Lantic's sugar products are marketed primarily under the "Lantic" trade name and include granulated, icing, cube, liquid, yellow and brown sugars.

This document may contain forward-looking statements, relating to the Fund's operations or to the environment in which it operates, which are based on the Fund's operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond the Fund's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. These factors include those set forth in other public filings. In addition, these forward-looking statements relate to the date on which they are made. 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.

The debentures and the units issued upon conversion of the debentures have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person.

Rogers Sugar Income Fund (TSX:RSI.UN)