Parkland Announces Normal Course Issuer Bid

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    RED DEER, AB, Nov. 14, 2008 /CNW/ - Parkland Income Fund (TSX:PKI.UN)
announced today that the Toronto Stock Exchange ("TSX") has accepted
Parkland's notice of intention to commence a normal course issuer bid (the
"NCIB").
    President and CEO Mike Chorlton said, "Our unit price has recently been
low relative to our monthly distributions and is driving an unusually high
yield, far exceeding interest rates available under our credit facility. Our
business remains strong and the purchase of Fund Units at advantageous prices,
when balanced with our normal growth plans, is an excellent opportunity to
increase the proportionate interest of all remaining unitholders."
    As at November 7, 2008 there were 42,270,975 Fund Units outstanding of
which 41,346,618 were in the public float. Under the terms of the NCIB,
Parkland may purchase, from time to time, as Parkland considers advisable, up
to a maximum of 4,134,661 Fund Units, being 10% of the public float on
November 7, 2008, during the course of the NCIB. The aggregate number of Fund
Units that Parkland may purchase under the NCIB during any trading day is
subject to a maximum daily purchase limit of 86,468 Fund Units from November
18, 2008 to March 31, 2009 and 43,243 Fund Units from April 1, 2009 to the
termination of the NCIB. Exceptions may be made to this daily purchase limit
in accordance with the "block purchase" exemptions under TSX policy. Parkland
has made no purchases of its Fund Units in the previous twelve month period.
    Purchases of Fund Units will be made on the open market through the
facilities of the TSX. The price which Parkland will pay for any Fund Units
purchased by it will be the prevailing market price of the Fund Units on the
TSX at the time of such purchase. All Fund Units purchased under the NCIB
shall be cancelled except for certain Fund Units that will be reserved for
issuance to participants of the Fund's Restricted Unit Plan upon the vesting
of restricted units granted to such participants thereunder.
    The NCIB will commence on November 18, 2008 and will terminate on
November 17, 2009 or such earlier date on which Parkland completes its
purchases of Fund Units under the NCIB or terminates the NCIB at its option.
TD Securities has agreed to act on Parkland's behalf to make purchases
pursuant to the Bid.Fund Description
    ----------------Parkland Income Fund currently operates retail and wholesale fuels and
convenience store businesses under its Fas Gas Plus, Fas Gas, Race Trac Fuels
and Short Stop Food Stores brands and through independent branded dealers, and
transports fuel and other products through its Distribution division. With
approximately 590 locations, Parkland has developed a strong market niche in
Canadian non-urban markets focused in the West and Ontario. The Fund supplies
propane, bulk fuel, heating oil, lubricants, industrial fluids, agricultural
inputs and associated services to commercial and industrial customers in
Alberta, British Columbia and the Yukon Territory under the Neufeld, Joy,
United Petroleum and Great Northern Oil brands. Additionally, Parkland
operates the Bowden refinery near Red Deer, Alberta as a storage and
contract-processing site.
    Parkland is focused on creating and delivering value for its unitholders
through the continuous refinement of its site portfolio, increasing revenue
diversification through growth in non-fuel revenues and active supply chain
management.
    The Fund's units trade on the Toronto Stock Exchange (TSX) under the
symbol PKI.UN. For more information, visit www.parkland.ca.

    Certain information included herein is forward-looking. Forward-looking
statements include, without limitation, statements regarding the future
financial position, business strategy, budgets, projected costs, capital
expenditures, financial results, taxes and plans and objectives of or
involving Parkland. Many of these statements can be identified by looking for
words such as "believe", "expects", "expected", "will", "intends", "projects",
"projected", "anticipates", "estimates", "continues", or similar words and
include but are not limited to, statements regarding the accretive effects of
the acquisition and the anticipated benefits of the acquisition. Parkland
believes the expectations reflected in such forward-looking statements are
reasonable but no assurance can be given that these expectations will prove to
be correct and such forward-looking statements should not be unduly relied
upon. Forward-looking statements are not guarantees of future performance and
involve a number of risks and uncertainties some of which are described in the
Fund's annual report, annual information form and other continuous disclosure
documents. Such forward-looking statements necessarily involve known and
unknown risks and uncertainties and other factors, which may cause the Fund's
actual performance and financial results in future periods to differ
materially from any projections of future performance or results expressed or
implied by such forward-looking statements. Such factors include, but are not
limited to: general economic, market and business conditions; industry
capacity; competitive action by other companies; refining and marketing
margins; the ability of suppliers to meet commitments; actions by governmental
authorities including increases in taxes; changes in environmental and other
regulations; and other factors, many of which are beyond the control of
Parkland. Any forward-looking statements are made as of the date hereof and
the Fund does not undertake any obligation, except as required under
applicable law, to publicly update or revise such statements to reflect new
information, subsequent or otherwise.



For further information: Red Deer: Mike W. Chorlton, President and CEO,
(403) 357-6400; John G. Schroeder, Vice President and CFO, (403) 357-6400; If
you prefer to receive Company news releases via e-mail, please request at
corpinfo@parkland.ca