Parkland Income Fund adopts unitholder rights plan

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    RED DEER, AB, May 5 /CNW/ - Parkland Income Fund (the "Fund") announces
that at its annual and special meeting held on May 2, 2008 unitholders of the
Fund approved by an overwhelming majority the adoption by the Fund of a
unitholder rights plan (the "Plan"). Details regarding the Plan are set forth
in the management proxy circular of the Fund dated March 14, 2008, a copy of
which has been filed and is available from the SEDAR website at
    The objectives of the Plan are to ensure, to the extent possible, that
all unitholders are treated equally and fairly in connection with any
take-over bid or similar proposal to acquire trust units of the Fund. The Plan
was not adopted in response to, or in anticipation of, any known proposal to
acquire control of the Fund.
    The plan has been implemented and is effective immediately pursuant to
the terms and conditions of a Unitholder Rights Plan Agreement between the
Fund and Valiant Trust Company, as rights agent. The complete text of this
agreement will be filed and available from the SEDAR website at

    About Parkland Income Fund

    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 530 locations, Parkland has developed a strong market niche in
western and northern Canadian non-urban markets. 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. The Fund is also a 25
percent joint venture partner in a study, due to be completed by the end of
2008, to determine the feasibility of building a $300 million facility to
refine condensate into petroleum and other products.
    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
    The Fund's units trade on the Toronto Stock Exchange (TSX) under the
symbol PKI.UN. For more information, visit

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For further information: Red Deer: Mike W. Chorlton, President and CEO,
(403) 357-6400; John G. Schroeder, Vice President and CFO, (403) 357-6400