About Amalgamated

Further to the press release disseminated on August 24, 2010, the Board of Directors of Amalgamated General Partner Ltd. (the “General Partner”), the general partner of Amalgamated Income Limited Partnership (“Amalgamated” or the “Partnership”), confirm that the limited partnership units of the Partnership were delisted from the TSX as of the close of business on Tuesday, August 31, 2010. 

The voluntary de-listing of the limited partnership units of the Partnership is in conjunction with the Partnership’s dissolution process, as previously approved by the unitholders of the Partnership, being carried out pursuant to the terms of the Partnership’s limited partnership agreement.

Additional information relating to the Partnership, including all public filings, is available on SEDAR (www.sedar.com).

Limited Partners are reminded that due to the nature of Amalgamated as defined by the partnership agreement, limited partners are not allocated income for tax purposes on the amount of distributions actually received during the year.  Allocations for tax purposes are made based on whether or not they are limited partners at December 31.  Any distribution received will represent a decrease in the adjusted cost base of any partnership units held and a potential capital gain (or loss) if the unit is sold prior to December 31.  For tax purposes, a limited partner at December 31 will receive an allocation of the Partnership’s income, dividends, and capital losses or gains if held outside a tax deferred plan such as an RRSP, RRIF, or RESP.