2006

December 18, 2006
Algonquin Power Income Fund Declares Cash Distribution for December 2006

November 22, 2006
Algonquin Power Income Fund Announces Completion of $60 million Convertible Debenture Offering

November 21, 2006
Algonquin Power Income Fund Declares Cash Distribution for November 2006

October 19, 2006
Algonquin Power Income Fund Declares Cash Distribution for October 2006

October 12, 2006
Algonquin Power Income Fund - Supplemental Information for New Issue

September 20, 2006
Algonquin Power Income Fund Declares Cash Distribution for September 2006

August 22, 2006
Algonquin Power Income Fund Declares Cash Distribution for August 2006

July 20, 2006
Algonquin Power Income Fund Declares Cash Distribution for July 2006

June 30, 2006
Algonquin Power Income Fund Announces Results of Take-Over Bid for units of AirSource Power Fund I LP

June 27, 2006
AirSource Board of Directors Reaffirms Support of Algonquin Offer

June 26, 2006
Algonquin Power Income Fund Announces Appointment of Chief Operating Officer

June 21, 2006
Algonquin Power Income Fund Declares Cash Distribution for June 2006

May 18, 2006
Algonquin Power Income Fund Declares Cash Distribution for May 2006

April 19, 2006
Algonquin Power Income Fund Declares Cash Distribution for April 2006

March 22, 2006
Algonquin Power Income Fund Declares Cash Distribution for March 2006

March 8, 2006
Algonquin Power Income Fund Announces 2005 Fourth Quarter and Year End Results

February 16, 2006
Algonquin Power Income Fund Declares Cash Distribution for February 2006

Janurary 19, 2006
Algonquin Power Income Fund Declares Cash Distribution for January 2006

Algonquin Power Income Fund Declares Cash Distribution for December 2006

December 18, 2006

OAKVILLE, Ontario – Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit payable on February 15, 2007 to the unitholders of record on December 29, 2006 for the period from December 01, 2006 to December 31, 2006.

The Fund has 72,848,184 units issued and outstanding which together with 3,283,484 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,625 equivalent trust units issued and outstanding based on the exchange provisions applicable with respect to units of Algonquin (AirSource) Power LP.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com

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Algonquin Power Income Fund Announces Completion of $60 million Convertible Debenture Offering

November 22, 2006

OAKVILLE, Ontario – Algonquin Power Income Fund (the “Fund”) announces that it has completed today an offering of 60,000 convertible unsecured subordinated debentures at a price of $1,000 per debenture for gross proceeds of $60,000,000. The debentures are due November 30, 2016 and bear interest at 6.20% per annum, payable semi-annually in arrears.

The offering was underwritten by a syndicate co-led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc., which also included National Bank Financial Inc., Scotia Capital Inc., RBC Dominion Securities Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, FirstEnergy Capital Corp., HSBC Securities (Canada) Inc. and Raymond James Ltd. The Fund intends to use the net proceeds from the offering to repay bank indebtedness.

The debentures will be listed and posted for trading on Toronto Stock Exchange (“TSX”) under the symbol “APF.DB.A”. The Fund’s trust units, into which the debentures are convertible, are listed and posted for trading on the TSX under the symbol “APF.UN”.

The securities offered were not registered under the U.S. Securities Act of 1933, as amended, and were not offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Since its formation in 1997, the Fund has acquired direct and indirect equity and/or debt interests in a diverse portfolio of operating assets and currently owns or has interests in 48 hydroelectric generating facilities, one energy-from-waste facility, 10 landfill gas-fired generating facilities, three natural gas-fired cogeneration facilities, two natural gas/wood waste-fired generating facilities, three bio-mass fired generating facilities and one wind energy generating facility. In addition, the Fund owns 17 water distribution / water reclamation facilities in the United States.

For more information please contact:

Dave Kerr or Peter Kampian
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com

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Algonquin Power Income Fund Declares Announces Cash Distribution for November 2006

November 21, 2006

OAKVILLE, Ontario – Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit payable on January 15, 2007 to the unitholders of record on November 30, 2006 for the period from November 01, 2006 to November 30, 2006.

The Fund has 72,808,911 units issued and outstanding which together with 3,323,534 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,633 equivalent trust units issued and outstanding based on the exchange provisions applicable with respect to units of Algonquin (AirSource) Power LP.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

Contact:
Mr. Dave Kerr
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario L6H 7H7

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Algonquin Power Income Fund Announces Third Quarter 2006 Financial Results

November 15, 2006

OAKVILLE, Ontario – Algonquin Power Income Fund (TSX: APF.UN and APF.DB) today announced financial results for the third quarter of 2006, ended September 30, 2006.

For the third quarter, revenue grew to $51.1 million as compared to $42.8 million in the third quarter of 2005. The third quarter increase in revenue is primarily due to the acquisition of the St. Leon Wind Energy facility (“St. Leon”), continued growth in the Infrastructure Division combined with the positive impact of facilities that were purchased during 2005, and increased energy production in the hydroelectric division. Additionally in the third quarter, the Alternative Fuels Division experienced increased volumes of waste processed at the Energy-from-Waste facility compared to the third quarter of 2005.

Net earnings in the third quarter of 2006 were $5.0 million compared to $9.5 million for the third quarter of 2005. Net earnings per trust unit in the third quarter of 2006 were $0.07, compared to $0.14 in the same period in 2005. The decrease in net earnings for the third quarter is attributed to lower unrealized foreign exchange gains on US dollar denominated debt, increased expected future income taxes, and increased interest expense, partially offset by additional profits earned from the newly acquired facilities including St. Leon and Rio Rico.

Cash available for distribution in the third quarter of 2006 was $17.6 million or $0.23 per unit compared to $14.6 million or $0.21 per unit in the third quarter of 2005. During the third quarter, Algonquin Power Income Fund distributed $0.23 per trust unit, consistent with the amount distributed during the same period in 2005.

At the beginning of the third quarter of 2006, the Fund successfully completed the offer to indirectly acquire all of the outstanding limited partnership units of AirSource Power Fund I LP (“AirSource”). AirSource and its affiliates constructed the St. Leon facility, a 99 megawatt facility located near the Town of St. Leon, Manitoba. The facility is the first wind farm in the province of Manitoba, and one of the largest wind turbine farms in Canada to date.

Performance Summary for the third quarter of 2006:

• Revenue of $51.1 million in Q3 2006 compared to $42.8 million in Q3 2005.
• Net earnings of $5.0 million ($0.07 per trust unit) in Q3 2006 compared to $9.5 million ($0.14 per trust unit) in Q3 2005.
• Cash available for distribution of $17.6 million ($0.23 per trust unit) in Q3 2006 compared to $14.6 million ($0.21 per trust unit) in Q3 2005. Distributions for the third quarter of both 2006 and 2005 were $0.23 per trust unit.

Performance Summary for the first nine months of 2006:

• Revenue of $147.7 million for the first nine months of 2006 compared to $128.4 million in the first nine months of 2005.
• Net earnings of $26.1 million ($0.37 per trust unit) for the first nine months of 2006 compared to $12.9 million ($0.18 per trust unit) for the first nine months of 2005.
• Cash available for distribution of $50.0 million ($0.70 per trust unit) in the first nine months of 2006 compared to $45.1 million ($0.65 per trust unit) for the same period in 2005. Distributions for the first nine months of both 2006 and 2005 were $0.69 per trust unit.

“The manager of Algonquin Power Income Fund is pleased with the results of the quarter, and the addition of wind energy generation to the Fund through the newly acquired St. Leon Wind Energy facility”, commented Chris Jarratt, a senior manager with the Fund. “Algonquin Power Income Fund is a strong player in the Canadian investment community, with a structure and strategy that has and continues to provide unitholders with a stable investment opportunity backed by long-lived, sustainable assets.”

To view a detailed report of third quarter results click here .

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB respectively, and units are included in the S&P/TSX Composite Index.

Contact:
Chris Jarratt or Kelly Castledine
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario L6H 7H7

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Algonquin Power Income Fund Announces Re-powering and Expansion Initiative for a California Natural Gas Fired Generating Station

November 14, 2006

OAKVILLE, Ontario – Algonquin Power Income Fund (the "Fund") announced today that it has approved plans for a re-development of its 42MW natural gas powered generating station located in Sanger, California which is expected to result in substantial improvement in fuel efficiency and facility output.

The Sanger generating station is a combined cycle electrical generating station currently powered by a Westinghouse W251 natural gas fired turbine and a General Electric steam turbine. Electrical energy and capacity produced by the facility are sold to Pacific Gas and Electric Company (“PG&E”) pursuant to a long term agreement ending in May, 2022. Payments under the power purchase agreement consist of a monthly capacity payment and an energy payment related to the cost of natural gas. While the facility has demonstrated a successful operating history since its commissioning in 1991, advances in general turbine technology provide an opportunity to substantially improve the fuel efficiency and output of the facility. Accordingly, the Fund has approved a plan to retrofit the Sanger facility with a General Electric LM6000 turbine, estimated for completion during the fourth quarter of 2007.

“The projected fuel and maintenance costs savings alone provide an accretive investment opportunity for the Fund.” commented Ian Robertson, a senior manager of the Fund. “Perhaps as importantly, the broad industry support for the General Electric turbine will substantially reduce operating risks for the Fund and the attractive fuel efficiency of the LM6000 will allow the facility to participate competitively in the electrical capacity market following the expiration of the existing power purchase agreement in 2022.” he continued.
The projected cost of the retrofit program is approximately US$23 million. The layout of the Sanger facility will allow the installation of the LM6000 turbine concurrently with continued operation of the Westinghouse turbine prior to switchover to eliminate any expected loss of capacity payments from PG&E during the construction period. The higher electrical capacity of the LM6000 turbine will allow total electric output of the Sanger facility to be increased to approximately 56MW.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

Contact:
Ms. Kelly Castledine
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario L6H 7H7

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Algonquin Power Income Fund Announces Date for Third Quarter 2006 Financial Results Release and Conference Call

November 10, 2006

OAKVILLE, Ontario – Algonquin Power Income Fund (TSX: APF.UN and APF.DB) today announced plans to release third quarter 2006 financial results on Wednesday, November 15, 2006. Algonquin Power Income Fund will hold an earnings conference call on Thursday, November 16, 2006, hosted by Executive Director, David Kerr. Also planning to attend the call is Chris Jarratt, Executive Director, Vito Ciciretto, Chief Operating Officer, and Peter Kampian, Chief Financial Officer.

The call is scheduled to begin at 10:00 a.m. eastern time on Thursday, November 16, 2006.

Conference call details are as follows:

Date: Thursday, November 16, 2006
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-800-525-6384 or international 1-780-409-1668.

A digital recording of the conference call will be available for replay two hours after the completion of the call by dialing 1-888-562-2825 or 1-402-220-7740 access code 1130639 from November 16, 2006 until November 21, 2006.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB respectively, and units are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

Contact:
Ms. Kelly Castledine
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario L6H 7H7

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Algonquin Power Income Announces Amended Terms to its Previously Announced Offerings

Not for distribution to U.S. news wire services or dissemination in the United States.

November 9, 2006

OAKVILLE, Ontario- Algonquin Power Income Fund (“Algonquin”) has announced today that, in light of the recent statements from the federal Minister of Finance respecting the taxation of income trusts and the ensuing impact on the capital markets, it is proposing to amend certain terms of its previously announced financing. BMO Capital Markets and CIBC World Markets Inc. and a syndicate of underwriters have agreed to propose amendments to the terms of the trust units and debentures offered in the previously-announced, October 12th offering, and will offer, on a marketed basis, $60,000,000 principal amount of 6.20% convertible unsecured subordinated debentures due November 30, 2016 with a conversion price of $11.00 (the “Debentures”). The offering is expected to close on or about November 22, 2006. Completion of the offering is subject to the filing of amended and restated prospectuses and requisite regulatory approvals, including approval of the Toronto Stock Exchange. The trust unit offering will not proceed at this time.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

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Algonquin Power Income Fund Provides Update on Offering and Comments on Proposed Taxation Changes

November 3, 2006

OAKVILLE, Ontario- Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that, in light of the recent statements from the federal Minister of Finance respecting the taxation of income trusts and the ensuing impact to the capital markets, it has reconsidered completing at this time the offerings announced October 12, 2006 for 6,440,000 trust units and $50,000,000 of convertible unsecured debentures and remains in discussions with the underwriters regarding same.

The Fund’s financing strategy involves periodic access of the capital markets to repay indebtedness incurred in respect of its continuing growth initiatives. The planned use of proceeds from the proposed offerings was to retire a portion of such growth related indebtedness. The Fund believes that completing such financings is discretionary.

The Fund believes any impact on its unitholders of the proposed taxation changes will be significantly mitigated due to the large proportion of distributions which are a return of capital. Comprising over 50% of the Fund’s 2005 distributions, such return of capital is not subject to taxation under the proposed provisions.

“We believe that the capital markets appreciate the positive impact enjoyed by our unitholders resulting from the high percentage of distributions which constitute a return of capital.” commented Ian Robertson, a senior manager for the Fund. “The long-lived nature of the Fund’s growing portfolio of renewable assets is expected to allow the Fund to continue to provide its unitholders with this benefit following the proposed application of the tax rule changes in four years.” he continued. Additionally, the Fund receives a significant proportion of its income from U.S. based assets, which income may not be subject to the application of the proposed taxation rules.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

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Algonquin Power Income Fund Announces Postponement of Offering

November 1, 2006

OAKVILLE, Ontario- November 1, 2006 - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that it has postponed the offerings for 6,440,000 trust units and $50,000,000 of convertible unsecured debentures, which were previously expected to close on or about November 1, 2006. In consultation with the underwriting group, the Fund as agreed to review the situation and provide information within the next 48 hours.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

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Algonquin Power Income Fund Declares Cash Distribution for October 2006

October 19, 2006

OAKVILLE, Ontario- Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit payable on December 15, 2006 to the unitholders of record on October 31, 2006 for the period from October 1, 2006 to October 31, 2006.

The Fund has 72,609,669 units issued and outstanding which together with 3,526,684 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,641 equivalent trust units issued and outstanding based on the exchange provisions applicable with respect to units of Algonquin (AirSource) Power LP.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund - Supplemental Information for New Issue

October 12, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund ("Algonquin") (TSX:APF.UN & APF.DB) announced today that it entered into an agreement to sell to a syndicate of underwriters led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc., on a bought deal basis, 6,440,000 trust units (the "Trust Units") at $10.10 per Trust Unit for gross proceeds of $65,044,000 and $50,000,000 principal amount of 6.10% convertible unsecured subordinated debentures due November 30, 2016 (the "Debentures"), and convertible at a conversion price of $12.00. The offering is expected to close on or about November 1, 2006.

The net proceeds of the offering will be used to repay bank indebtedness and for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Declares Cash Distribution for September 2006

September 20, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit payable on November 15, 2006 to the unitholders of record on September 29, 2006 for the period from September 1, 2006 to September 30, 2006.

The Fund currently has 72,473,444 units issued and outstanding which together with 3,616,268 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,020,280 equivalent trust units issued and outstanding based on the exchange provisions applicable with respect to units of Algonquin (AirSource) Power LP.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Declares Cash Distribution for August 2006

August 22, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,784,793) payable on October 16, 2006 to the unitholders of record on August 31, 2006 for the period from August 01, 2006 to August 31, 2006.

The Fund currently has 72,321,060 units issued and outstanding and an additional 3,198,432 trust units, based on the exchange provisions associated with Algonquin (AirSource) Power LP, for a total of 75,519,492 equivalent trust units issued and outstanding.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

ALGONQUIN POWER INCOME FUND ANNOUNCES COMPLETION OF COMPULSORY ACQUISITION OF UNITS OF AIRSOURCE POWER FUND I LP

OAKVILLE, Ontario, August 10, 2006 – Algonquin Power Income Fund (“Algonquin”) announced today that pursuant to the compulsory acquisition provisions of the AirSource Power Fund I LP (“AirSource”) limited partnership agreement (the “Compulsory Acquisition”), Algonquin (AirSource) Power LP (the “Offeror”) acquired the remaining 496,090 limited partnership units (the “AirSource Units”) of AirSource not already acquired by the Offeror pursuant to its offer by way of takeover bid dated May 15, 2006.

As a result of the Compulsory Acquisition, the Offeror owns 6,500,000 AirSource Units, constituting all of the issued and outstanding AirSource Units. In accordance with the terms of the Compulsory Acquisition, holders of AirSource Units elected to receive either an exchangeable unit of the Offeror (each exchangeable unit exchangeable for 0.9808 Algonquin trust units (“Algonquin Units”)) or 0.9808 Algonquin Units for each AirSource Unit tendered. Holders who failed to tender their AirSource Units in connection with the Compulsory Acquisition automatically receive Algonquin Units for their AirSource Units.

The AirSource Units do not trade on any recognized market or stock exchange. Affiliates of AirSource are constructing the 99 megawatt St. Leon Wind Energy generating facility comprised of 63 1.65 megawatt Vestas V82 turbines located near the town of St. Leon, Manitoba.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water distribution and waste-water facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB respectively, and units are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

For more information, contact:

Kelly Castledine
Algonquin Power Income Fund and
Algonquin (AirSource) Power LP
2845 Bristol Circle
Oakville, Ontario
L6H 7H7
Telephone: 905-465-4500
E-mail: APIF@algonquinpower.com

Algonquin Power Income Fund Announces Second Quarter 2006 Financial Results

August 9, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (TSX: APF.UN and APF.DB) today announced financial results for the second quarter of 2006, ended June 30, 2006.

For the second quarter, revenue grew to $47.1 million as compared to $45.0 million in the second quarter of 2005. The second quarter increase in revenue is primarily due to strong hydrology experienced in the Hydroelectric Division and improved energy prices at the Cogeneration Division’s Windsor Locks facility. Additionally in the second quarter, the Alternative Fuels Division experienced increased volumes of waste processed at the Energy from Waste facility compared to the second quarter of 2005, and the Infrastructure Division continued to see strong organic growth combined with the positive impact of facilities that were purchased during 2005.

Net earnings in the second quarter of 2006 were $13.8 million compared to $1.6 million for the second quarter of 2005. Net earnings per trust unit in the second quarter of 2006 increased to $0.19 from $0.02 in the same period in 2005. The increase in net earnings for the second quarter is attributed to higher quarterly revenue, an unrealized foreign exchange gain on US dollar denominated debt, a recovery of future income taxes, and increased interest and other income on its investments in the Alternative Fuels Division.

At the end of the second quarter of 2006, the Fund successfully completed an offer to indirectly acquire all of the outstanding limited partnership units of AirSource Power Fund I LP (“AirSource”). AirSource and its affiliates have constructed the St. Leon Wind Energy facility, a 99 megawatt facility located near the Town of St. Leon, Manitoba. The facility is the first wind farm in the province of Manitoba, and one of the largest wind turbine farms in Canada to date.

• Revenue of $47.1 million in Q2 2006 compared to $45.0 million in Q2 2005.
• Net earnings of $13.8 million ($0.20 per trust unit) in Q2 2006 compared to $1.6 million ($0.02 per trust unit) in Q2 2005.
• Cash available for distribution of $16.0 million ($0.23 per trust unit) in Q2 2006 compared to $16.7 million ($0.24 per trust unit) in Q2 2005. Distributions for the second quarter of both 2006 and 2005 were $0.23 per trust unit.

• Revenue of $96.6 million for the first six months of 2006 compared to $85.6 million in the first six months of 2005.
• Net earnings of $21.2 million ($0.30 per trust unit) for the first six months of 2006 compared to $3.4 million ($0.05 per trust unit) for the first six months of 2005.
• Cash available for distribution of $32.4 million ($0.47 per trust unit) in the first six months of 2006 compared to $30.5 million ($0.44 per trust unit) for the same period in 2005. Distributions for both the first half of 2006 and 2005 were $0.46 per trust unit.

“The Fund continues to focus on maintaining stable, predictable cash distributions to unitholders, while maximizing the performance of existing assets and seeking growth opportunities that complement the Fund’s portfolio”, commented Chris Jarratt, a senior manager with the Fund. “Significant growth of the Fund was demonstrated through the acquisition of the St. Leon Wind Energy facility at the end of the second quarter. This facility is an excellent addition to the Fund’s Alternative Fuels Division and further balances the Fund’s technologic, geographic and regional diversity.”

To view a detailed report of second quarter results click here

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB respectively, and units are included in the S&P/TSX Composite Index.

Contact:

Chris Jarratt or Kelly Castledine
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario L6H 7H7

Algonquin Power Income Fund Declares Cash Distribution for July 2006

July 20, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the "Fund") of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,789,589.17) payable on September 15, 2006 to the unitholders of record on July 31, 2006 for the period from July 1, 2006 to July 31, 2006.

The Fund currently has 75,582,104 units issued and outstanding.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Announces Results of Take-Over Bid for units of AirSource Power Fund I LP

June 30, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund ("Algonquin") announced today that all of the terms and conditions of the offer (“Offer”) dated May 15, 2006 made by Algonquin (AirSource) Power LP (the “Offeror”) to purchase all of the outstanding units (“Units”) of AirSource Power Fund I LP (“AirSource”) have been satisfied. All of the non-exchangeable units of the Offeror are owned indirectly by Algonquin and the general partner of the Offeror is owned by Algonquin Power Management Inc., the manager of Algonquin.

A total of 6,003,910 Units, or approximately 92.4% of the outstanding Units, were deposited in acceptance of the Offer. Neither Algonquin, nor the Offeror, nor any person acting jointly or in concert with them, owned any Units prior to the completion of the Offer.

In accordance with the terms of the Offer, which expired at 5:00 p.m. (Toronto time) on June 29, 2006, holders of Units elected to receive either an exchangeable unit (“Exchangeable Unit”) for each Unit tendered or 0.9808 Algonquin trust units (“Algonquin Units”) for each Unit tendered. The value of the consideration offered is approximately $10.00 per Unit based on the volume weighted average price of the Algonquin Units on the Toronto Stock Exchange for the 20 trading days ending May 9, 2006. The total number of Exchangeable Units to be delivered pursuant to the Offer is 3,863,554 and the total number of Algonquin Units to be delivered pursuant to the Offer is 2,099,261. The Offeror has taken up all Units deposited to the Offer and, in accordance with the elections received, will pay for them with Exchangeable Units or Algonquin Units, as applicable, as soon as practicable.

Having acquired more than 90% of the outstanding Units pursuant to the Offer, the Offeror intends to exercise the compulsory acquisition right under the AirSource limited partnership agreement to acquire the remaining Units that the Offeror did not acquire pursuant to the Offer.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For more information, contact:

Ms. Kelly Castledine
Algonquin Power Income Fund
and Algonquin (AirSource) Power LP
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

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AirSource Board of Directors Reaffirms Support of Algonquin Offer

June 27, 2006

OAKVILLE, Ontario - The Independent Liquidity Committee of the Board of Directors (“Board”) of AirSource Power Fund GP Inc., general partner of AirSource Power Fund I LP (“AirSource”), confirms it continues to support the offer by Algonquin Power Income Fund (“Algonquin”) to indirectly acquire the outstanding units of AirSource (“Units”). Pursuant to the offer, a limited partnership affiliated with Algonquin has offered one Exchangeable Unit for each Unit. Each Exchangeable Unit is exchangeable for 0.9808 units of Algonquin.

As permitted by the Support Agreement between AirSource and Algonquin, the Independent Liquidity Committee, with the assistance of its financial advisors, has been engaged in discussions with several interested potential bidders but, to date, no other formal offers to acquire the Units have been received. Accordingly the Board continues to recommend that AirSource unitholders accept the Algonquin offer and tender their Units.

The Algonquin bid is open for acceptance until 5:00 p.m. (Toronto time) on June 29, 2006. AirSource unitholders who accept Exchangeable Units under the Algonquin offer by this deadline are entitled to receive a distribution equivalent to the distribution to which holders of record of Algonquin units as of June 30, 2006 are entitled to receive. AirSource unitholders who accept Algonquin units will be considered unitholders of record as of June 30, 2006 and will receive an Algonquin distribution for the month of June. Unitholders of record as of June 30 will be paid distributions on August 15 and the amount of the distribution will be $0.0766 per unit.

About AirSource Power Fund I LP

AirSource Power Fund I LP is a limited partnership established to invest in wind energy. AirSource and its affiliates have constructed St. Leon Wind Energy, comprised of 63 1.65 megawatt turbines totalling approximately 99 megawatts of installed capacity located near the Town of St. Leon, Manitoba. The facility is the first wind farm in the province of Manitoba, and one of the largest wind turbine farms in Canada to date. For further information, please visit www.airsourcepower.com.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB respectively, and units are included in the S&P/TSX Composite Index.

For more information, contact:

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Algonquin Power Income Fund Announces Appointment of Chief Operating Officer

June 26, 2006

OAKVILLE, Ontario -Algonquin Power Income Fund (the "Fund") of Oakville, Ontario is pleased to announce the appointment of Mr. Vito Ciciretto to the position of Chief Operating Officer for Algonquin Power Income Fund. Mr. Ciciretto will be located at the Fund’s head office in Oakville, Ontario, where he will be responsible for the overall operations of the Fund’s Hydroelectric, Cogeneration, Alternative Fuels and Infrastructure divisions.

Mr. Ciciretto is a results-oriented Certified Management Accountant with twenty years of experience in General Management, Manufacturing and Finance, and holds a Master of Business Administration (With Distinction) from York University. Most recently, he was Executive Program Director for Honeywell Aerospace.

"Algonquin Power Income Fund is extremely pleased to be welcoming Vito into this key role", stated Chris Jarratt, a senior executive of the Fund. "Vito’s credibility as a proven senior executive and demonstrated ability in delivering excellent business performance will be a valuable addition to the Fund’s operations going forward".

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Declares Cash Distribution for June 2006

June 21, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,338,519.73) payable on August 15, 2006 to the unitholders of record on June 30, 2006 for the period from June 1, 2006 to June 30, 2006.

The Fund currently has 69,693,469 units issued and outstanding.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Declares Cash Distribution for May 2006

May 18, 2006

OAKVILLE, Ontario -Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,338,519.73) payable on July 17, 2006 to the unitholders of record on May 31, 2006 for the period from May 1, 2006 to May 31, 2006.

The Fund currently has 69,693,469 units issued and outstanding.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Announces its Intention to Make an Offer to Acquire AirSource Power Fund I LP

May 11, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (“Algonquin”) announced today that it has entered into a Support Agreement pursuant to which, Algonquin will cause its affiliated entity, Algonquin (AirSource) Power LP (the “Offeror”) to make an offer (the “Offer”) to acquire all of the outstanding limited partnership units (the “AirSource Units”) of AirSource Power Fund I LP (“AirSource”). The Offer will be made by way of a take-over bid through the issuance of one exchangeable limited partnership unit (an “Exchangeable Unit”) of the Offeror for each AirSource Unit representing an equivalent price of $10.00 per Unit, based on the volume weighted average price of Algonquin’s trust units (the “Algonquin Units”) on the Toronto Stock Exchange for the 20 trading days ending May 9, 2006 and will be open for acceptance for 45 days from the date of mailing of the Offer, unless withdrawn or extended.

Each Exchangeable Unit will be entitled, subject to available cash in the Offeror, to receive monthly distributions equivalent to the distributions paid on Algonquin Units and will be exchangeable by the holder, at any time, into 0.9808 Algonquin Units. The Offer will provide eligible holders of AirSource Units (“AirSource Unitholders”) the opportunity to elect pursuant to subsection 97(2) of the Income Tax Act (Canada) if they wish to defer the recognition of all or any portion of the capital gain which would otherwise occur on the exchange of AirSource Units for Exchangeable Units.

The AirSource Independent Liquidity Committee (comprised of directors of the AirSource general partner who are not related to Algonquin) has determined that the Offer is in the best interests of AirSource Unitholders and has received an opinion from CIBC World Markets Inc. that the consideration offered pursuant to the Offer is fair, from a financial point of view, to the AirSource Unitholders. The Board of Directors of AirSource will recommend that AirSource Unitholders accept the Offer. Notwithstanding their support for the Offer, the Independent Liquidity Committee, with the assistance of Algonquin as provided under the Support Agreement, has committed to solicit alternative proposals from third parties including publicly-traded income funds during the period the Offer is open for acceptance and has reserved the right to consider any superior proposals which may arise.

The Offer will be conditional upon, among other things, there not occurring any material adverse change in the business, the St. Leon wind energy facility (the “Project”), operations, assets or liabilities of AirSource and/or any of its subsidiaries or affiliated entities. The Offeror acknowledges that completion of the Project has been delayed due to adverse weather conditions, equipment delivery delays and construction completion difficulties experienced by the turn-key construction contractor. While all wind turbines comprising the Project have now been erected and individually commissioned, a number of technical concerns remain to be addressed by the turn-key construction contractor in respect of the construction of the Project. The Offeror acknowledges that the Offer is being made on an “as-is, where-is” basis with respect to the status of the Project. Further, provided that and notwithstanding the foregoing, if the Project manifests additional problems that have or could have a significant effect on the economic viability of the Project, in the opinion of the Offeror, acting reasonably, the Offeror shall have the right to assert that the same constitutes a material adverse change.

About AirSource Power Fund I LP

AirSource Power Fund I LP is a limited partnership established to invest in wind energy. AirSource and its affiliates have constructed the St. Leon Wind Energy facility, comprised of 63 1.65 megawatt turbines totaling approximately 99 megawatts of installed capacity located near the Town of St. Leon, Manitoba. The facility is the first wind farm in the province of Manitoba, and one of the largest wind turbine farms in Canada to date. For further information, please visit www.airsourcepowerfund.com.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB respectively, and units are included in the S&P/TSX Composite Index.

For more information, contact:

For further information, please contact:

Kelly Castledine
Algonquin Power Income Fund
c/o Algonquin Power Management Inc.
2845 Bristol Circle
Oakville, Ontario
L6H 7H7
905-465-4500
APIF@AlgonquinPower.com

Daniel Allard
Chairman, Independent Liquidity Committee,
AirSource Power Fund GP Inc.
c/o GreenWing Energy, Inc.
600-666 Burrard Street
Vancouver, BC
V6C 2X8
604-639-3156
drallard@greenwingenergy.com

Algonquin Power Income Fund Announces First Quarter 2006 Financial Results
- Strong combined divisional performance contributes to growing cash available for distribution

May 10, 2006

OAKVILLE, Ontario – Algonquin Power Income Fund (TSX: APF.UN and APF.DB) today announced financial results for the first quarter of 2006, ended March 31, 2006.

For the first quarter, revenue grew to $49.5 million as compared to $40.6 million in the first quarter of 2005, an increase of 21%. The first quarter increase in revenue is primarily due to strong hydrology experienced in the Hydroelectric Division and a strong performance by the Cogeneration Division. Additionally in the first quarter, the Alternative Fuels Division experienced improved energy production and higher levels of waste processed at the Energy from Waste facility, and the Infrastructure Division continued to see strong organic growth combined with the positive impact of facilities that were purchased during 2005.

Net earnings in the first quarter of 2006 were $7.3 million compared to $1.8 million for the first quarter of 2005. Net earnings per trust unit in the first quarter of 2006 increased to $0.11 from $0.03 in the same period in 2005. The increase in net earnings for the first quarter is attributed to higher revenue and higher interest and other income from the Fund’s investment in AirSource Power Fund I LP.
Cash available for distribution in the first quarter of 2006 increased to $16.3 million or $0.23 per unit compared to $13.9 million or $0.20 per unit in the first quarter of 2005. During the first quarter, Algonquin Power Income Fund distributed $0.23 per trust unit, consistent with the amount distributed during the same period in 2005.

Performance Summary for the first quarter of 2006:

• Revenue of $49.5 million in Q1 2006 compared to $40.6 million in Q1 2005.
• Net earnings of $7.3 million ($0.11 per trust unit) in Q1 2006 compared to $1.8 million ($0.03 per trust unit) in Q1 2005.
• Cash available for distribution of $16.3 million in Q1 2006 compared to $13.9 million in Q1 2005.
• Cash available for distribution per trust unit of $0.23 in Q1 2006 compared to $0.20 per trust unit in Q1 2005.

“Strong combined performance of the Fund’s four divisions has resulted in the achievement of stable cash distributions to unitholders and growing cash available for distribution”, stated Chris Jarratt, a senior manager with the Fund. “The facilities acquired in 2005 have been successfully integrated into the Fund’s operations and are now contributing to the Fund’s overall success in the first quarter of 2006. The Fund will continue to focus on growing its portfolio of generating and infrastructure assets to diversify both technologically and geographically throughout North America in order to maintain and improve the stability of the Fund for unitholders.”

To view a detailed report of first quarter results click here

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB respectively, and units are included in the S&P/TSX Composite Index.

For further information, please contact:

Chris Jarratt or Kelly Castledine
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario L6H 7H7

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Algonquin Power Income Fund Declares Cash Distribution for April 2006

April 19, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,338,519.73) payable on June 15, 2006 to the unitholders of record on April 28, 2006 for the period from April 1, 2006 to April 28, 2006.

The Fund currently has 69,693,469 units issued and outstanding.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN & APF.DB, and units are included in the S&P/TSX Composite Index.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Declares Cash Distribution for March 2006

March 22, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,338,375.94) payable on May 15, 2006 to the unitholders of record on March 31, 2006 for the period from March 1, 2006 to March 31, 2006.

The Fund currently has 69,691,592 units issued and outstanding.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units are traded on the Toronto Stock Exchange (APF.UN) and are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Declares Cash Distribution for March 2006

March 22, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,338,375.94) payable on May 15, 2006 to the unitholders of record on March 31, 2006 for the period from March 1, 2006 to March 31, 2006.

The Fund currently has 69,691,592 units issued and outstanding.

About Algonquin Power Income Fund
Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units are traded on the Toronto Stock Exchange (APF.UN) and are included in the S&P/TSX Composite Index. More information about Algonquin Power Income Fund can be found at www.algonquinpower.com.

For further information, please contact:
Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

Algonquin Power Income Fund Announces 2005 Fourth Quarter and Year End Results
Cash available for distribution shows continued growth

March 8, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (TSX: APF.UN and APF.DB) today announced results for the fourth quarter and year ended December 31, 2005.

For the year 2005, revenue grew to $179.3 million as compared to $160.5 million in 2004, an 11.7% year over year increase. In the fourth quarter of 2005 revenue grew to $50.9 million as compared to $40.7 million in the fourth quarter of 2004. The fourth quarter increase is mainly due to strong hydrology experienced in the Hydroelectric Division and improved production in the Cogeneration Division. Additionally in the fourth quarter, the Alternative Fuels Division experienced improved levels of energy production from the Energy from Waste facility and the Infrastructure Division continued to see strong organic growth and began to see benefits from the facilities acquired during the year.

Net earnings in 2005 were $21.8 million compared to $22.8 million for 2004. Net earnings per trust unit in 2005 decreased to $0.31 from $0.33 in 2004. The decline in net earnings is primarily attributed to a write down related to the Crossroads facility including the associated tax loss, lower unrealized foreign exchange gains in 2005 compared to 2004, and higher interest expenses in 2005 as compared to 2004.

Cash available for distribution in 2005 increased to $64.9 million or $0.93 per unit compared to $59.9 million or $0.87 per unit in 2004. Cash distributions in 2005 totaled $0.92 per trust unit, unchanged from 2004. During the fourth quarter, Algonquin Power Income Fund distributed $0.23 per trust unit, consistent with the same period in 2004. Cash available for distribution for the quarter grew to $19.5 million over the $12.7 million available for the fourth quarter of 2004.

Performance Summary for the fourth quarter of 2005:

• Revenue increased to $50.9 million in Q4 2005 from $40.7 million in Q4 2004.
• Net earnings of $8.9 million in Q4 2005 compared to $(0.1) million in Q4 2004.
• Net earnings per trust unit of $0.12 in Q4 2005 compared to $0.00 in Q4 2004.
• Cash available for distribution of $19.5 million ($0.28 per trust unit) in Q4 2005 compared to $12.7 million ($0.18 per trust unit) in Q4 2004. Distributions remained at $0.23 per trust unit during the fourth quarter of both 2005 and 2004.

Performance Summary for the year 2005:

• Revenue increased to $179.3 million for the year 2005 compared to $160.5 million in 2004.
• Net earnings of $21.8 million for 2005 compared to $22.8 million for 2004.
• Net earnings per trust unit of $0.31 in 2005 compared to $0.33 in 2004.
• The Fund generated $0.93 per trust unit of cash available for distribution for 2005 compared to $0.87 for 2004. Distributions remained at $0.92 per unit for both 2005 and 2004.

“Algonquin Power Income Fund is very pleased with the achievements of the Fund throughout 2005”, commented Chris Jarratt, a senior manager with the Fund. “Strong performance results were achieved by key assets within the Cogeneration and Infrastructure Divisions, along with strong overall performance for the year in the Hydroelectric Division and increased investment income in Alternative Fuels. The positive performance from each division contributed to the Fund achieving record levels of distributable cash in 2005. The importance of developing and maintaining a stable, well diversified portfolio of assets continues to be a priority for the Fund with efforts over the past few years resulting in a strong, balanced Fund moving into 2006 and beyond.”

To view a detailed report of fourth quarter and year end 2005 results click here

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units are traded on the Toronto Stock Exchange (APF.UN) and are included in the S&P/TSX Composite Index.

Contact:
Chris Jarratt or Kelly Castledine
Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com

Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario L6H 7H7

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Algonquin Power Income Fund Declares Cash Distribution for February 2006

February 16, 2006

OAKVILLE, Ontario - Algonquin Power Income Fund (the “Fund”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,338,375.94) payable on April 17, 2006 to the unitholders of record on February 28, 2006 for the period from February 1, 2006 to February 28, 2006.

The Fund currently has 69,691,592 units issued and outstanding.

About Algonquin Power Income Fund

Algonquin Power Income Fund is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power Income Fund was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power Income Fund’s units are traded on the Toronto Stock Exchange (APF.UN) and are included in the S&P/TSX Composite Index.

For further information, please contact:

Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

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Algonquin Power Income Fund Declares Cash Distribution for January 2006

January 19, 2006

OAKVILLE, Ontario-Algonquin Power Income Fund (“Algonquin Power”) of Oakville, Ontario announced today that its Trustees have declared a cash distribution on its trust units. The distribution is $0.0766 per trust unit ($5,338,375.94) payable on March 15, 2006 to the unitholders of record on January 31, 2006 for the period from January 1, 2006 to January 31, 2006.

The Fund currently has 69,691,592 units issued and outstanding.

About Algonquin Power

Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of power generating and infrastructure assets across North America, including 48 hydroelectric facilities, five natural gas-fired cogeneration facilities, 18 alternative fuels facilities and 15 water reclamation and distribution facilities. Algonquin Power was established in 1997 to provide unitholders with sustainable, highly stable and growing cash flows through a diversified portfolio of energy and infrastructure assets. Algonquin Power’s units are traded on the Toronto Stock Exchange (APF.UN) and are included in the S&P/TSX Composite Index.

For further information, please contact:

Ms. Kelly Castledine
Algonquin Power Income Fund
2845 Bristol Circle
Oakville, Ontario
L6H 7H7

Telephone: (905) 465-4500
E-mail: APIF@algonquinpower.com
Web Page: www.algonquinpower.com

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© Copyright Algonquin Power & Utilities Corp. 2003 - 2009
Algonquin Power & Utilities Corp. 2845, Bristol Circle, Oakville, ON Canada, L6H 7H7
Tel: 905.465.4500 Fax: 905. 465.4514