Income Financial today announced that the Notice of Special Meeting of
Unitholders and Management Information Circular relating to the previously
announced special meeting of the unitholders to be held at 11:00 a.m. (Eastern
standard time) on July 10, 2013, has been mailed to the unitholders.


The primary purpose of the meeting is to consider and vote upon a special
resolution that would allow unitholders to maintain their investment beyond the
scheduled termination date of January 1, 2014. If the special resolution is
approved, the termination date would initially be extended to January 1, 2019.


The reasons for the term extension proposal are as follows:



--  Unitholders will have the opportunity to continue to participate in any
    further strengthening of the Canadian and US financial services sector
    over the extended time-frame.
    
    Income Financial's net asset value per unit has steadily strengthened
    from the March 2009 equity market lows. Canadian and US financial
    services companies have seen improving market price performance
    reflecting the improving fundamentals in the North American economy.
    Income Financial experienced a total return of 17.63% in calendar 2012
    and has increased 15.73% for the 5 months ended May 31, 2013. An
    extended timeframe would allow unitholders to benefit from any
    continuation of this trend. 
    
--  Unitholders could benefit from increasing monthly distributions if the
    net asset value continues to improve over the extended timeframe.
    
    The distribution formula for Income Financial is 8.5% per annum, based
    on the preceding month end net asset value. As such, the monthly
    distribution would increase reflecting any positive changes in the
    monthly net asset value. The monthly distribution has increased
    approximately 16% from 5.7 cents per month in January 2012 to 6.6 cents
    in May 2013 reflecting the improving net asset value trend.



If the extension proposal is passed, Quadravest (the "Manager") will lower its
annual management fee from 0.85% to 0.75% per annum of the net asset value of
Income Financial. In addition, the discount to net asset value for the monthly
redemption fee will be decreased from 4% to 2% and this reduced fee would be
paid to the Manager. These measures are intended to lower ongoing expenses of
Income Financial and improve trading prices relative to the net asset value of
Income Financial.


The special resolution also allows the Manager to provide subsequent 5 year
extension terms while continuing to provide all unitholders with the same
retraction right entitlement at each extension date as they would have had if
the term of Income Financial were not to be so extended.


The Manager of Income Financial has determined that the special resolution is in
the best interests of Income Financial and its unitholders. Accordingly, the
Manager recommends that unitholders vote FOR the special resolution. The
Independent Review Committee of Income Financial has also unanimously determined
that the calling and holding of the special meeting to consider the matters
described in the Circular, on terms set forth in the Circular, achieves a fair
and reasonable result for unitholders.


For full details, please review the Notice of Special Meeting of Unitholders and
the Management Information Circular which is available on SEDAR and the
Company's website at www.quadravest.com.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect", "intend", "will" and similar expressions to the extent they relate to
the Company. The forward-looking statements are not historical facts but reflect
the Company's current expectations regarding future results or events. These
forward-looking statements are subject to a number of risks and uncertainties
that could cause actual results or events to differ materially from current
expectations. Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are cautioned not to
place undue reliance on such statements due to the inherent uncertainty therein.
The Company undertakes no obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new information,
future events or other such factors which affect this information, except as
required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Income Financial Trust
Investor Relations
416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)
www.quadravest.com
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