2007

Algonquin Power Income Fund announces closing of sale of landfill gas interests

December 21, 2007, Oakville, Ontario - Algonquin Power Income Fund (the "Fund" or “Algonquin Power”) today announced the closing of the sale of six landfill gas powered generating stations and other related landfill gas assets owned by an affiliate of the Fund for US$11.34 million. The assets were sold to Fortistar LLC.

The assets were comprised of six facilities representing approximately 18MW of installed generating capacity, which were no longer considered strategic to the ongoing operations of the Fund.

“The accretive disposition of the landfill gas assets allows the Fund to successfully focus on larger renewable energy generation and sustainable infrastructure projects”, commented Ian Robertson, executive director of the Fund. “Given the small size of the Fund’s landfill gas investments, the sale should not be construed as a strategic portfolio shift for Algonquin Power”.

About Algonquin Power
Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 48 renewable energy facilities, 12 thermal energy facilities, and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Declares Cash Distribution for December 2007

December 18, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX:APF.UN) 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, 2008 to the unitholders of record on December 31, 2007 for the period from December 01, 2007 to December 31, 2007.

The Fund has 73,642,886 units issued and outstanding which together with 2,474,687 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,070,059 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 is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, one wind energy facility, 7 alternative fuels facilities and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power announces successful progression to the next phase in Manitoba wind Request for Proposal

December 18, 2007, Oakville, Ontario - Algonquin Power is pleased to announce that it has been selected to proceed to the next phase in Manitoba Hydro’s Request for Proposal (“RFP”) 025089, Potential Purchase of Output from Manitoba Wind Powered Electrical Generation Facilities.

Algonquin Power is a North American renewable energy company and the first independent wind power producer in the province of Manitoba. Algonquin Power owns and operates St. Leon Wind Energy, a 99 MW wind farm with a proven wind resource located in and around the community of St. Leon.

Two projects totaling 165 MW submitted by affiliates of Algonquin Power have been selected for further participation in the RFP process. The two projects consist of the 99 MW Glenwood Wind Energy Project located in the Rural Municipality of Glenwood, near the Town of Souris, Manitoba, and a 66 MW expansion of Algonquin Power’s 99 MW St. Leon Wind Energy facility located in the Rural Municipalities of Pembina and Lorne.

Further participation in the RFP could include the supply of additional technical information and supplementary information to be used in the final evaluation process. A successful next phase of the RFP process would see Algonquin Power engaging in Power Purchase Agreement negotiations with Manitoba Hydro.

“Achieving the next stage in the RFP process with Manitoba Hydro is both exciting and significant to Algonquin Power’s renewable energy project development pipeline in Canada”, stated David Kerr, executive director of Algonquin Power. “We are very pleased to be moving into the next phase with two of Algonquin Power’s projects, and look forward to the potential opportunity to grow our wind presence in Manitoba, and further enhance our community relationships in St. Leon”.

Following the very successful financing of St. Leon Wind Energy, and upon successful execution of a Power Purchase Agreement, Algonquin Power will be evaluating the various financing options available to fund these potential projects.

About Algonquin Power Income Fund
Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 48 renewable energy facilities, 12 thermal energy facilities, and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power announces the successful re-powering of its California natural gas fired generating station

December 11, 2007, Oakville, Ontario - Algonquin Power is pleased to announce the successful commissioning of its 42MW natural gas powered generating station located in Sanger, California (the “Sanger” facility) following the major re-powering project that commenced in October 2006. The start-up and commissioning was completed on time and on budget with a total cost of approximately US$23 million.

The Sanger generating station is a natural gas combined cycle electrical generating station that has been successfully retrofitted with a General Electric LM6000 turbine. The re-powered Sanger facility achieved Commercial Operation on December 5, 2007, demonstrating Algonquin’s continuing commitment to the global environment and investment in technologies that reduce overall greenhouse gas emissions and reliance on fossil fuels.

“ While the facility has demonstrated a very successful operating history since its original commissioning in 1991, advances in turbine technology provided an opportunity to substantially improve the fuel efficiency of the facility”, commented Chris Jarratt, executive director of Algonquin Power. “The facility is expected to see an annual fuel requirement reduction of 23% or approximately $2 million in savings. In addition, the facility is expected to benefit from lower maintenance costs given the broad industry support for the LM6000 turbine. This coupled with the potential to expand generating capacity by 14 MW to 56 MW results in a very successful growth project for Algonquin Power.”

The 14 MW generating capacity expansion project is currently under review by Algonquin Power. Such capacity could be sold to Pacific Gas and Electric Company (“PG&E”) or to the market.

Electrical energy and capacity currently produced by the facility are sold to PG&E pursuant to a long term agreement ending in 2021. Payments under the power purchase agreement consist of a monthly capacity payment and an energy payment related to the cost of natural gas.

About Algonquin Power Income Fund

Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 48 renewable energy facilities, 12 thermal energy facilities, and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Declares Cash Distribution for November 2007

November 21, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX:APF.UN) 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, 2008 to the unitholders of record on November 30, 2007 for the period from November 01, 2007 to November 30, 2007.

The Fund has 73,616,114 units issued and outstanding which together with 2,501,987 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,070,063 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 is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, one wind energy facility, 7 alternative fuels facilities and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Announces Third Quarter 2007 Financial Results

November 8, 2007, Oakville, Ontario - Algonquin Power Income Fund (TSX: APF.UN) (the “Fund”) today announced financial results for the third quarter of 2007, ended September 30, 2007.

For the third quarter of 2007, revenue totalled $46.5 million as compared to $49.4 million in the third quarter of 2006. The decrease in revenue is primarily due to lower production in the Cogeneration Division combined with lower reported revenue from the Fund’s US facilities resulting from a stronger Canadian dollar.

Net earnings in the third quarter of 2007 were $12.2 million as compared to net earnings of $5.0 million for the third quarter of 2006. Net earnings per trust unit in the third quarter of 2007 were $0.17 as compared to net earnings per trust unit of $0.07 in the same period in 2006. The increase in net earnings during the third quarter is due to lower expected future income tax expenses and increased unrealized gains on financial instruments.

Cash available for distribution in the third quarter of 2007 was $18.5 million or $0.24 per unit as compared to $17.6 million or $0.23 per unit in the third quarter of 2006. During the third quarter, Algonquin Power Income Fund distributed $0.23 per trust unit, consistent with the amount distributed during the same period in 2006.

• Revenue of $46.5 million in Q3 2007 as compared to $49.4 million in Q3 2006.
• Net earnings of $12.2 million or $0.17 per trust unit in Q3 2007 as compared to net earnings of $5.0 million or $0.07 per trust unit in Q3 2006.
• Cash available for distribution of $18.5 million or $0.24 per trust unit in Q3 2007 as compared to $17.6 million or $0.23 per trust unit in Q3 2006. Distributions for the third quarter of both 2007 and 2006 were $0.23 per trust unit.

• Revenue of $142.4 million for the first nine months of 2007 as compared to $141.9 million in the first nine months of 2006.
• Net earnings of $16.1 million or $0.22 per trust unit for the first nine months of 2007 as compared to $26.1 million or $0.36 per trust unit for the first nine months of 2006.
• Cash available for distribution of $52.4 million ($0.69 per trust unit) in the first nine months of 2007 as compared to $50.0 million ($0.70 per trust unit) for the same period in 2006. Distributions for both the first nine months of 2007 and 2006 were $0.69 per trust unit.

“ The successful implementation of several key strategic Fund projects continued during the third quarter of 2007, with the re-powering of the Sanger facility and the steam sales project at Energy-from-Waste moving into the late stages of completion”, stated Chris Jarratt, a senior manager with the Fund. “The Fund’s involvement in wind energy also continues to see increased activity with eight wind project proposals totaling over 600 MW submitted to Hydro Quebec and Manitoba Hydro during the quarter. These projects leverage the in-house capabilities of the Fund and strengthen the Fund’s commitment and expertise in renewable energy technologies.”

To view a detailed report of third quarter results Click Here

Algonquin Power Income Fund will hold an earnings conference call on Friday, November 9, 2007, hosted by Executive Directors, David Kerr and Chris Jarratt. The call is scheduled to begin at 10:00 a.m. eastern time.

Conference call details are as follows:

Date: Friday, November 9, 2007
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-866-249-2157 or local 416-644-3420.
Conference ID#: 21250100

A digital recording of the conference call will be available for replay two hours after the call by dialing 1-877-289-8525 or 416-640-1917 access code 21250100# from November 9, 2007 until November 16, 2007.

About Algonquin Power Income Fund
Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, one wind energy facility, 7 alternative fuels facilities and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Announces Commercial Operation of St. Leon Wind Energy

October 31, 2007, Oakville, Ontario - Algonquin Power Income Fund (“Algonquin Power” or “Algonquin”) of Oakville, Ontario is pleased to announce the achievement of commercial operation (“Commercial Operation”) pursuant to the Turnkey Construction Contract (“TCC”) at St. Leon Wind Energy (“St. Leon”), a 99 MW wind farm located 120 kilometres southwest of Winnipeg, in and around the community of St. Leon, Manitoba. The TCC is the agreement between Algonquin owned St. Leon and Vestas-Canadian Wind Technology Inc. (“Vestas”), to provide engineering and construction services as well as turbine and balance-of-plant equipment for the St. Leon project.

Commercial Operation as defined in the TCC occurs when a project is “substantially complete” and ownership is formally transferred from the contractor to the owner of the project. Commercial Operation pursuant to the power purchase agreement with Manitoba Hydro was attained in 2006 and St. Leon has been successfully generating renewable electricity since that time, enjoying a substantial and proven wind resource. The declaration of Commercial Operation pursuant to the TCC was pending the resolution of certain outstanding construction related issues under the TCC.

The Commercial Operation date was declared, on a retro active basis, as September 18, 2007, marking the commencement of the five year warranty period with Vestas. Under the warranty agreement with Vestas, the projected availability of the project is guaranteed by Vestas and the turbine equipment is warranted against defects.

“Algonquin Power is excited to achieve this important milestone at our largest renewable energy project to date”, stated Chris Jarratt, Executive Director of Algonquin Power. “We are very pleased with the strength of our relationship with Vestas and look forward to continuing success at St. Leon. The strength of the OMS and warranty agreements provides assurance that the Fund will generate ongoing stable and predictable cash flows from this facility well into the future.”

About Algonquin Power
Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, one wind energy facility, 7 alternative fuels facilities and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund announces dates for third quarter 2007 financial results release and conference call

October 30, 2007, Oakville, Ontario - Algonquin Power Income Fund (TSX: APF.UN) today announced plans to release third quarter 2007 financial results on Thursday, November 8, 2007. Algonquin Power Income Fund will hold an earnings conference call at 10:00 a.m. eastern time on Friday, November 9, 2007, hosted by Executive Directors, David Kerr and Chris Jarratt.

Date: Friday, November 9, 2007
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-866-249-2157 or local 416-644-3420.
Conference ID#: 78673

For those unable to attend the live call, a digital recording will be available for replay two hours after the call by dialing 1-877-289-8525 or 416-640-1917 access code 21250100# from November 9, 2007 until November 16, 2007.

About Algonquin Power
Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, one wind energy facility, 7 alternative fuels facilities and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Announces Sale of Landfill Gas Interests

October 23, 2007, Oakville, Ontario - Algonquin Power Income Fund (the "Fund" or “Algonquin Power”) today announced that a definitive agreement has been signed between Algonquin Power Fund (America) Inc., an affiliate of the Fund and Fortistar LLC regarding the sale of six landfill gas powered generating stations and other related landfill gas assets owned by the Fund for US$11.69 million, subject to certain adjustments. The transaction is expected to close in November, 2007.

The landfill gas assets are comprised of six facilities representing approximately 18MW of installed generating capacity with five facilities in California (15MW), and one facility in New Hampshire (3MW). These facilities were no longer considered strategic to the ongoing operations of the Fund.

“Algonquin Power’s accretive disposition of the California and New Hampshire landfill gas generating businesses will allow the Fund to narrow the focus of its management efforts on other, larger renewable energy generation and sustainable infrastructure projects”, commented Ian Robertson, a senior manager of the Fund. “Given the relatively small size of the landfill gas investments of the Fund, the sale should not be construed as a strategic portfolio shift for Algonquin Power, with our continuing focus on renewable and energy efficient generation unchanged”.

About Algonquin Power
Algonquin Power is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, one wind energy facility, 7 alternative fuels facilities and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Declares Cash Distribution for October 2007

October 22, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX:APF.UN) 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 17, 2007 to the unitholders of record on October 31, 2007 for the period from October 01, 2007 to October 31, 2007.

The Fund has 73,584,927 units issued and outstanding which together with 2,533,787 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,070,065 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 is an open-ended investment trust that owns and has interests in a diverse portfolio of renewable power generation and sustainable infrastructure assets across North America, including 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, one wind energy facility, 13 alternative fuels facilities and 17 water distribution and waste-water facilities. Algonquin Power was established in 1997 to provide investors with sustainable, highly stable cash flows through a diversified portfolio of renewable energy assets. Algonquin Power's units and convertible debentures are traded on the Toronto Stock Exchange under the symbols APF.UN, APF.DB & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Makes Donation to Manitoba's First Wind Farm Community

October 11, 2007, Oakville, Ontario - Algonquin Power Income Fund (“Algonquin Power”) of Oakville, Ontario recently made its annual donation of $10,000 to the community of St. Leon through the Table Ronde de Saint-Leon organization.Algonquin Power is a community focused renewable energy company that owns and operates St. Leon Wind Energy, a 99 MW wind farm with a proven wind resource located in and around the community of St. Leon.

The annual $10,000 donation is made to the community each year for ten years, totaling $100,000. This is the third year the donation was made by Algonquin Power.

Paul Grenier, President of Table Ronde de Saint-Leon recently met with Ian Robertson, Executive Director of Algonquin Power at the Canadian Wind Energy Association Conference held in Quebec City. During the meeting, Mr. Robertson presented a $10,000 cheque to Mr. Grenier, with anticipation that the wind farm in St. Leon will soon grow.

Algonquin Power has submitted four wind energy projects in the Manitoba Hydro request for proposals. One of the projects is for an expansion of St. Leon Wind Energy that is fully supported by the community. The additional projects proposed are located in three rural municipalities in Southern Manitoba.

“The St. Leon community works very closely with Algonquin Power to ensure a lasting partnership”, stated Paul Grenier. “Algonquin Power’s annual donation is used throughout the community for various projects each year, and is just one more benefit that St. Leon receives for being involved with the wind project. We would happily welcome an expansion to the 99 MW facility”.

“Algonquin Power and the St. Leon community have a long-term, growing partnership when it comes to wind energy” stated David Kerr, Executive Director of Algonquin Power. “Algonquin Power is very proud of being the first independent wind power producer in the province and is happy to support the communities where we operate”.

Algonquin Power Income Fund Declares Cash Distribution for September 2007

September 19, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX:APF.UN) 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, 2007 to the unitholders of record on September 28, 2007 for the period from September 01, 2007 to September 30, 2007.

The Fund has 73,560,842 units issued and outstanding which together with 2,558,347 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,070,069 equivalent trust units issued and outstanding based on the exchange provisions applicable with respect to units of Algonquin (AirSource) Power LP.

Algonquin Power Income Fund Announces Appointment of Chief Financial Officer

Algonquin Power Income Fund Declares Cash Distribution for August 2007

August 22, 2007, Oakville, Ontario - Algonquin Power Income Fund (the "Fund") (TSX:APF.UN) 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 October 15, 2007 to the unitholders of record on August 31, 2007 for the period from August 01, 2007 to August 31, 2007.

The Fund has 73,525,164 units issued and outstanding which together with 2,593,197 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,572 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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 14 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Announces Second Quarter 2007 Financial Results

Net loss in the second quarter of 2007 was $2.3 million as compared to net earnings of $13.8 million for the second quarter of 2006. Net loss per trust unit in the second quarter of 2007 was $0.03 as compared to net earnings per trust unit of $0.20 in the same period in 2006. The decrease in net earnings during the second quarter is due to a future tax expense charge of $27.9 million. The future tax expense is a one-time non-cash charge related to Bill C-52 that makes certain specified investment flow-through entities, such as Algonquin Power Income Fund, taxable in 2011.

Cash available for distribution in the second quarter of 2007 was $18.9 million or $0.25 per unit as compared to $16.0 million or $0.23 per unit in the second quarter of 2006. During the second quarter, Algonquin Power Income Fund distributed $0.23 per trust unit, consistent with the amount distributed during the same period in 2006.

• Revenue of $50.0 million in Q2 2007 as compared to $47.1 million in Q2 2006.
• Net loss of $2.3 million or $0.03 per trust unit in Q2 2007 as compared to net earnings of $13.8 million or $0.20 per trust unit in Q2 2006.
• Cash available for distribution of $18.9 million or $0.25 per trust unit in Q2 2007 as compared to $16.0 million or $0.23 per trust unit in Q2 2006. Distributions for the second quarter of both 2007 and 2006 were $0.23 per trust unit.

• Revenue of $99.5 million for the first six months of 2007 as compared to $96.6 million in the first six months of 2006.
• Net earnings of $3.9 million or $0.05 per trust unit for the first six months of 2007 as compared to $21.2 million or $0.30 per trust unit for the first six months of 2006.
• Cash available for distribution of $34.0 million ($0.45 per trust unit) in the first six months of 2007 as compared to $32.4 million ($0.47 per trust unit) for the same period in 2006. Distributions for both the first half of 2007 and 2006 were $0.46 per trust unit.

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Date: Friday, August 10, 2007
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-800-732-6179 or local 416-644-3417.
Conference ID#: 21238612

A digital recording of the conference call will be available for replay two hours after the call by dialing 1-877-289-8525 or 416-640-1917 access code 21238612# from August 10, 2007 until August 17, 2007.

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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 14 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund announces dates for second quarter 2007 financial results release and conference call

Conference call details are as follows:
Date: Friday, August 10, 2007
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-800-732-6179 or local 416-644-3417.
Conference ID#: 21238612

For those unable to attend the live call, a digital recording will be available for replay two hours after the call by dialing 1-877-289-8525 or 416-640-1917 access code 21238612# from August 10, 2007 until August 17, 2007.

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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 14 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Declares Cash Distribution for July 2007

July 20, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX:APF.UN) 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 September 17, 2007 to the unitholders of record on July 31, 2007 for the period from July 01, 2007 to July 31, 2007.

The Fund has 73,518,689 units issued and outstanding which together with 2,600,091 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,858 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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Declares Cash Distribution for June 2007

June 20, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX: APF.UN) 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 August 15, 2007 to the unitholders of record on June 29, 2007 for the period from June 01, 2007 to June 30, 2007.

The Fund has 73,487,799 units issued and outstanding which together with 2,631,297 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,575 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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Declares Cash Distribution for May 2007

May 22, 2007, Oakville, Ontario - Algonquin Power Income Fund (the "Fund") (TSX:APF.UN) 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 July 16, 2007 to the unitholders of record on May 31, 2007 for the period from May 01, 2007 to May 31, 2007.The Fund has 73,448,179 units issued and outstanding which together with2,620,400 units of Algonquin (AirSource) Power LP outstanding, results in anaggregate of 76,068,579 equivalent trust units issued and outstanding based onthe exchange provisions applicable with respect to units of Algonquin(AirSource) Power LP.

Algonquin Power Income Fund Announces First Quarter 2007 Results

May 9, 2007, Oakville, Ontario - Algonquin Power Income Fund (TSX:APF.UN) today announced results for the first quarter ended March 31, 2007.

For the first quarter of 2007, revenue was $49.5 million, consistent with the first quarter of 2006. Revenue for the first quarter of 2007 was consistent with the same period in the prior year primarily due to the acquisition of the St. Leon Wind Energy facility (“St. Leon”), offset by the closure of the Crossroads facility in December of 2006, and lower energy rates at the Windsor Locks facility.

Net earnings in the first quarter of 2007 were $6.2 million as compared to $7.3 million in the first quarter of 2006. Net earnings per trust unit in the first quarter of 2007 were $0.08 as compared to $0.11 in the first quarter of 2006. The decrease in net earnings is primarily due to increased interest expense, the deduction of earnings related to non-controlling minority interest, lower energy rates at Windsor Locks arising from lower natural gas prices, and lower interest and dividend income from the Fund’s portfolio of investments. Additionally, the comparable 2006 results included the one-time positive impact of the voluntary shutdown of the Sanger facility in favour of selling natural gas.

Cash available for distribution in the first quarter of 2007 was $15.1 million or $0.20 per trust unit compared to $16.3 million or $0.23 per trust unit in the first quarter of 2006. Cash distributions in the first quarter of 2007 were $0.23 per trust unit, unchanged from the first quarter of 2006.

Performance Summary for the first quarter of 2007:

• Revenue was $49.5 million in Q1 2007, consistent with Q1 2006.
• Net earnings of $6.2 million in Q1 2007 as compared to $7.3 million in Q1 2006.
• Cash available for distribution of $15.1 million ($0.20 per trust unit) in Q1 2007 compared to $16.3 million ($0.23 per trust unit) in Q1 2006. Distributions remained at $0.23 per trust unit during the first quarter of both 2007 and 2006.

“ Algonquin Power Income Fund’s performance was in line with our expectations for the first quarter of 2007, which is a time of year that we expect lower revenues due to seasonal fluctuations”, commented Chris Jarratt, a senior manager of the Fund. “Despite this seasonality, the Fund experienced generation slightly above long-term averages in the hydroelectric division. The Fund also benefited from a strong performance of the St. Leon wind facility, the Fund’s largest asset. Throughout the remainder of 2007 the Fund will continue to focus on performance of its portfolio of renewable generating, cogeneration and infrastructure assets, maximizing opportunities through sound and prudent business strategies and practices.”

To view additional information for the first quarter of 2007 results click here

Algonquin Power Income Fund will hold an earnings conference call on Thursday, May 10, 2007, hosted by Executive Directors, David Kerr and Chris Jarratt. The call is scheduled to begin at 10:00 a.m. eastern time.

Conference call details are as follows:
Date: Thursday, May 10, 2007
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-800-525-6384 or international 1-780-409-1668.
Conference ID#: 8144100

A digital recording of the conference call will be available for replay two hours after the completion of the call by dialing 1-800-766-3735 or 1-402-220-7735 access code 8144100 from May 10, 2007 until May 17, 2007.

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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Announces Dates for First Quarter 2007 Financial Results Release and Conference Call

May 2, 2007, Oakville, Ontario - Algonquin Power Income Fund (TSX: APF.UN) today announced plans to release first quarter 2007 financial results on Wednesday, May 9, 2007. Algonquin Power Income Fund will hold an earnings conference call at 10:00 a.m. eastern time on Thursday, May 10, 2007, hosted by Executive Directors, David Kerr and Chris Jarratt.

Conference call details are as follows:

Date: Thursday, May 10, 2007
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-800-525-6384 or international 1-780-409-1668.
Conference ID#: 8144100

A digital recording of the conference call will be available for replay two hours after the completion of the call by dialing 1-800-766-3735 or 1-402-220-7735 access code 8144100 from May 10, 2007 until May 17, 2007.

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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 water supply 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 and APF.DB/APF.DB.A respectively, and units are included in the S&P/TSX Composite Index.

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Clarification - Algonquin Power Income Fund Announces Offer for Clean Power Income Fund will be Allowed to Expire

April 19, 2007, Oakville, Ontario - Algonquin Power Income Fund (“APIF”) announced today that Algonquin Power Trust (“APT”) will be allowing its offer (the “Offer”) mailed on March 16, 2007 regarding the acquisition of all of the outstanding trust units and convertible debentures of the Clean Power Income Fund (“CPIF”) to expire.

Securities will not be taken up under the Offer as certain conditions to completion of the Offer will not be satisfied.

About Algonquin Power
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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 water supply 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 and APF.DB/APF.DB.A respectively, and units are included in the S&P/TSX Composite Index.

Forward Looking Statements
Certain statements contained in the information herein are forward-looking and reflect the views of the Fund and Algonquin Power Management Inc. (the “Manager”) with respect to future events. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Forward-looking statements are not guarantees of the Fund’s future performance or results and are subject to various factors, including, but not limited to, assumptions such as those relating to: the performance of the Fund’s assets, commodity market prices, interest rates, and environmental and other regulatory requirements. Although the Fund and its Manager believe that the assumptions inherent in these forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only as of the dates hereof. The Fund and its Manager are not obligated nor do either of them intend to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

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Algonquin Power Income Fund Declares Cash Distribution for April 2007

April 19, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX:APF.UN) 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 June 15, 2007 to the unitholders of record on April 30, 2007 for the period from April 01, 2007 to April 30, 2007.

The Fund has 73,327,451 units issued and outstanding which together with 2,794,797 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,588 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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Announces Withdrawal of Offer for Clean Power Income Fund

April 19, 2007, Oakville, Ontario - Algonquin Power Income Fund (“APIF”) announced today that Algonquin Power Trust (“APT”) has withdrawn its offer (the “Offer”) mailed on March 16, 2007 regarding the acquisition of all of the outstanding trust units and convertible debentures of the Clean Power Income Fund (“CPIF”).

The Offer has been withdrawn following the announcement by the Board of Trustees of Clean Power Operating Trust (“CPOT”) that it has terminated its support of the Offer pursuant to a support agreement (“Support Agreement”) dated February 25, 2007 between CPIF, CPOT, APIF and APT, and as a result of certain conditions to completion of the Offer not being satisfied. CPIF security holders who may have previously deposited their securities under the Offer can withdraw their securities by contacting their securities dealer or broker.

In connection with the termination of the Support Agreement by CPOT, a termination fee of $1.75 million is payable to APIF. In addition, APIF is entitled to reimbursement of its expenses to a maximum of $850,000 from CPIF.

“Algonquin Power is confident in the final decision to withdraw the Offer”, commented Ian Robertson, a senior manager of APIF. “Algonquin Power has a disciplined approach to making financial decisions and we feel that withdrawing the Offer at this time is in the best interests of our unitholders”.

About Algonquin Power
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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 water supply 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 and APF.DB/APF.DB.A respectively, and units are included in the S&P/TSX Composite Index.

Algonquin Power Income Fund Declines to Match Competing Bid for Clean Power Income Fund

April 18, 2007, Oakville, Ontario - Algonquin Power Income Fund ("APIF") announced today that it will not cause Algonquin Power Trust to amend the terms of its offer (the “Offer”) mailed on March 16, 2007 regarding the acquisition by APIF of all of the outstanding trust units of the Clean Power Income Fund (“CPIF”), and the Offer remains unchanged.

APIF intends not to exercise the right provided under the support agreement entered into with CPIF to match the terms of the recently announced competing offer for the trust units of CPIF. Under the terms of the support agreement, if the trustees of Clean Power Operating Trust, on behalf of CPIF, elect to withdraw their recommendation in respect of acceptance of the Offer, APIF will be entitled to payment of (a) a termination fee in the amount of $1.75 million and (b) reimbursement of costs incurred in connection with making the Offer, up to a maximum amount of $850,000.

“Algonquin Power believes the valuation upon which the Offer is premised fully values the CPIF assets”, commented Ian Robertson, a senior manager of APIF. “Algonquin Power believes firmly in taking a disciplined approach to making accretive acquisitions and in acting responsibly in the best interest of our unitholders. We believe that the reduced time and risk to closing under our Offer, the high quality, complementary nature of APIF’s asset portfolio, and strong unitholder liquidity represent compelling reasons for CPIF unitholders to accept our Offer. In addition, the APIF Offer provides unitholders an opportunity to participate in a portfolio of long term, renewable energy assets demonstrating substantial operating synergies, and most importantly, an accretive environment.”

About Algonquin Power
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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 water supply 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 and APF.DB/APF.DB.A respectively, and units are included in the S&P/TSX Composite Index.

Forward Looking Statements
Certain statements contained in the information herein are forward-looking and reflect the views of the Fund and Algonquin Power Management Inc. (the “Manager”) with respect to future events. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Forward-looking statements are not guarantees of the Fund’s future performance or results and are subject to various factors, including, but not limited to, assumptions such as those relating to: the performance of the Fund’s assets, commodity market prices, interest rates, and environmental and other regulatory requirements. Although the Fund and its Manager believe that the assumptions inherent in these forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only as of the dates hereof. The Fund and its Manager are not obligated nor do either of them intend to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

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Algonquin Power Income Fund Announces Update on Offer to Acquire Clean Power Income Fund

April 11, 2007, Oakville, Ontario - Algonquin Power Income Fund ("Algonquin Power") today announced that Clean Power Income Fund (“Clean Power”) has reached an agreement with the Department of Natural Resources regarding the eligibility of Clean Power’s Erie Shores Wind Farm to receive an increase in the Wind Power Production Incentive (“WPPI”) payment of $2 per mega watt hour (“MWh”) to $10 per MWh. The WPPI payment is provided by the Canadian federal government in support of the development of renewable energy projects under the recently announced ecoEnergy Renewable Initiative, and the increase is retroactive to the date of commissioning of the facility which occurred in May 2006.

The increased WPPI payment is a component of the contingency value receipt (“CVR”) outlined in the offer dated March 16, 2007 by Algonquin Power (the “Offer”). This component represents the right by unitholders that tender units under the Offer to receive 80% of the balance (after deduction of all claims and costs) of $3.436 million in the event the Erie Shores Wind Farm qualifies for an increase in WPPI payments of $2 per MWh. In respect of the WPPI payment component of the CVR, holders of the CVRs under the Offer will receive a cash payment, after deductions, of approximately $0.07 per unit, to be paid following receipt by Clean Power of the first payment of the increased WPPI from Natural Resources Canada.

“Algonquin Power is pleased that an agreement has been reached with respect to the WPPI component of the contingency value receipt that Clean Power unitholders will receive under the Offer” stated Dave Kerr, a senior manager of Algonquin Power. “The contingency value receipt represents an important component of the Offer for Clean Power and this agreement brings us closer to realizing the combined strength of the Algonquin Power/Clean Power entity backed by high quality, long-lived assets that generate stable and sustainable cash flows”.

There is currently no additional information with respect to the CVR component that represents the US$7.593 million reserve fund established by Clean Power for claims made in connection with the sale of Gas Recovery Systems, LLC.

About Algonquin Power
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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 water supply 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 and APF.DB/APF.DB.A respectively, and units are included in the S&P/TSX Composite Index.

About Clean Power
Clean Power Income Fund is an open-ended investment trust that is invested in 15 power generating facilities located in Québec, Ontario, Alberta, British Columbia and four U.S. states with a total capacity of 303 MW. Three environmentally preferred technologies — windpower, waterpower and biomass — deliver electricity almost exclusively under long-term sales contracts and at minimal to zero fuel cost. Clean Power Income Fund is the first income fund to be certified under the Government of Canada's Environmental ChoiceM Program. Clean Power Income Fund’s units and convertible debentures are listed and posted for trading on the Toronto Stock Exchange under the symbols “CLE.UN” and “CLE.DB”, respectively. More information about Clean Power Income Fund can be found at www.cleanpowerincomefund.com

Forward Looking Statements
Certain statements contained in the information herein are forward-looking and reflect the views of the Fund and Algonquin Power Management Inc. (the “Manager”) with respect to future events. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Forward-looking statements are not guarantees of the Fund’s future performance or results and are subject to various factors, including, but not limited to, assumptions such as those relating to: the performance of the Fund’s assets, commodity market prices, interest rates, and environmental and other regulatory requirements. Although the Fund and its Manager believe that the assumptions inherent in these forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only as of the dates hereof. The Fund and its Manager are not obligated nor do either of them intend to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

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Algonquin Power Income Fund Declares Cash Distribution for March 2007

March 21, 2007, Oakville, Ontario - Algonquin Power Income Fund (the “Fund”) (TSX:APF.UN) 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 May 15, 2007 to the unitholders of record on March 30, 2007 for the period from March 01, 2007 to March 31, 2007.

The Fund has 73,285,772 units issued and outstanding which together with 2,837,297 units of Algonquin (AirSource) Power LP outstanding, results in an aggregate of 76,068,593 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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Announces Resignation of Chief Financial Officer

March 20, 2007, Oakville, Ontario - Algonquin Power Income Fund (the "Fund") today announced that chief financial officer (“CFO”) Peter Kampian has resigned to take on a progressive career opportunity with another organization.
Mrs. Luisa Paniconi-Read, Fund controller since 1999, has been appointed interim CFO. Mr. Kampian will remain with the Fund until April 5, 2007 and during that time he will assist the Fund with the smooth transition of his responsibilities. A search for a new CFO will begin immediately.

“ As a valued executive of Algonquin Power Income Fund since 1999, Peter helped build the Fund to the size it is today”, stated Chris Jarratt, executive director of the Fund. “While we are sorry to see Peter leave, we appreciate him continuing through a transition period and consider the Fund to be very fortunate that he developed a strong financial team that will allow a seamless continuation of Fund activities. Peter takes with him our best wishes and thanks for his many years of contribution to the Fund”.

About Algonquin Power
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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 water supply 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 and APF.DB/APF.DB.A respectively, and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Fund Announces 2006 Fourth Quarter and Year End Results

March 7, 2007, Oakville, Ontario - Algonquin Power Income Fund (TSX:APF.UN) today announced results for the fourth quarter and year ended December 31, 2006.

For the year 2006, revenue grew to $201.4 million as compared to $179.3 million in 2005, a 12.3% increase. In the fourth quarter of 2006 revenue grew to $53.7 million as compared to $50.9 million in the fourth quarter of 2005. The increase in revenue is primarily due to increased energy generated as a result of improved hydrology experienced in the Hydroelectric Division, the acquisition of the St. Leon Wind Energy facility (“St. Leon”), and continued organic growth in the Infrastructure Division, combined with the positive impact of the water distribution and waste-water facilities purchased during 2005.

Net earnings in 2006 were $28.0 million compared to $21.8 million for 2005. Net earnings per trust unit in 2006 increased to $0.39 from $0.31 in 2005. The increase in net earnings is primarily attributed to increased energy generated as a result of improved hydrology, the addition of earnings from the St. Leon facility, continued growth in the Infrastructure Division, and a reduction in expected future income taxes. Additionally, the comparable 2005 results included a write-down of the Fund’s investment in the Crossroads facility.

Cash available for distribution in 2006 increased to $67.5 million or $0.93 per unit compared to $64.9 million or $0.93 per unit in 2005. Cash distributions in 2006 totaled $0.92 per trust unit, unchanged from 2005. During the fourth quarter, Algonquin Power Income Fund distributed $0.23 per trust unit, consistent with the same period in 2005. Cash available for distribution for the fourth quarter was $17.5 million as compared to $19.5 million available for the fourth quarter of 2005.

Performance Summary for the fourth quarter of 2006:

• Revenue increased to $53.7 million in Q4 2006 from $50.9 million in Q4 2005.
• Net earnings of $1.8 million in Q4 2006 compared to $8.9 million in Q4 2005.
• Cash available for distribution of $17.5 million ($0.23 per trust unit) in Q4 2006 compared to $19.5 million ($0.28 per trust unit) in Q4 2005. Distributions remained at $0.23 per trust unit during the fourth quarter of both 2006 and 2005.

Performance Summary for the year 2006:

• Revenue increased to $201.4 million for the year 2006 compared to $179.3 million in 2005.
• Net earnings of $28.0 million for 2006 compared to $21.8 million for 2005.
• Cash available for distribution of $67.5 million ($0.93 per trust unit) for 2006 compared to $64.9 million ($0.93 per trust unit) for 2005. Distributions were $0.92 per trust unit for both 2006 and 2005.
  

To view additional information for the fourth 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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 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 & APF.DB.A and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Announces Dates for Fourth Quarter 2006 Financial Results Release and Conference Call

February 27, 2007, Oakville, Ontario - Algonquin Power Income Fund (TSX: APF.UN) today announced plans to release fourth quarter and year end 2006 financial results on Wednesday, March 7, 2007. Algonquin Power Income Fund will hold an earnings conference call on Thursday, March 8, 2007, hosted by Executive Director, David Kerr. The call is scheduled to begin at 10:00 a.m. eastern time on Thursday, March 8, 2007.

Conference call details are as follows:

Date: Thursday, March 8, 2007
Start Time: 10:00 a.m. eastern
Phone Number: Toll free within North America: 1-800-525-6384 or international 1-780-409-1668.
Conference ID#: 1006499

A digital recording of the conference call will be available for replay two hours after the completion of the call by dialing 1-800-374-8789 or 1-402-220-0893 access code 1006499 from March 8, 2007 until March 15, 2007.

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 47 hydroelectric facilities, five natural gas-fired cogeneration facilities, 17 alternative fuels facilities and 17 water supply 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 and APF.DB/APF.DB.A respectively, and units are included in the S&P/TSX Composite Index.

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Algonquin Power Income Announces its Intention to Make an Offer to Acquire Convertible Debentures of Clean Power Income Fund

February 26, 2007, Oakville, Ontario - Algonquin Power Income Fund ("Algonquin") announced today that it intends to cause Algonquin Power Trust, a trust of which Algonquin is the sole beneficiary, to make an offer (the “Offer”) to acquire all of the outstanding 6.75% convertible debentures (the “Convertible Debentures”) issued by Clean Power Income Fund (“CPIF”) which are not currently beneficially owned by Algonquin. The offer for the Convertible Debentures is anticipated to be made by way of a take-over bid through the issuance, to be elected at the option of the debenture holder at the time of tendering, either (a) $102.00 in principal face value of 6.20% convertible debentures issued by Algonquin maturing on November 30, 2016 for each $100 of Convertible Debenture principal together with accrued interest thereon (representing an equivalent price of $104.55 per $100 of debenture principal, based on the February 23, 2007 closing price of $102.50 of the existing 6.20% convertible debentures of Algonquin which mature on November 30, 2016) or (b) $100.00 in principal face value of 6.65% convertible debentures issued by Algonquin maturing on July 31, 2011 for each $100 of Convertible Debenture principal together with accrued interest thereon (representing an equivalent price of $104.00 per $100 of debenture principal, based on the February 23, 2007 closing price of $104.00 of the existing 6.65% convertible debentures of Algonquin which mature on July 31, 2011). This transaction values the outstanding Clean Power Convertible Debentures at approximately $57.5 million. The February 23, 2007 closing price of the Convertible Debentures was $100.50 per $100 principal.

The offer for the Convertible Debentures is anticipated to be mailed to holders of such securities on or before March 23, 2007. It is anticipated that the closing of the offer contemplated to be made for the Convertible Debentures will be conditional upon the closing of the offer previously announced by Algonquin in respect of the acquisition of all issued and outstanding trust units of CPIF. BMO Capital Markets acted as financial advisor to Algonquin on both of these transactions.

“ The offer by Algonquin for the Convertible Debentures will allow holders continued participation in the independent power sector, improved counterparty creditworthiness and the opportunity to convert into highly liquid Algonquin Power Income Fund trust units” said Ian Robertson, a senior manager of Algonquin. “It is believed that the offer provides an attractive premium to holders of the Convertible Debentures compared to other alternatives available.”

Pursuant to the Trust Indenture governing the Convertible Debentures, holders of Convertible Debentures may put their debentures to CPIF upon a change of control for a redemption amount of $101.00 for each $100 of Convertible Debentures so put. CPIF has the option to pay such redemption amount in cash or by delivering up CPIF trust units.

Algonquin Power Income Fund Proposes to Acquire Clean Power Income Fund

February 26, 2007, Oakville, Ontario - Algonquin Power Income Fund ("APIF") and Clean Power Income Fund (“CPIF”) announced today that they have entered into a support agreement in respect of an offer (the “Offer”) to be made by Algonquin Power Trust (“APT”), the sole beneficiary of which is APIF, to acquire all of the outstanding trust units of CPIF. The Offer values each unit of CPIF at $5.88 per unit, based on the last 20-day volume weighted average closing price of APIF units and including the full value of the contingency value receipt (“CVR”) described below. The entering into of the support agreement has been approved by the Boards of Trustees of both APIF and Clean Power Operating Trust (“CPOT”), the sole beneficiary of which is CPIF.

The Offer will be made by way of a take-over bid with consideration equal to (a) the issuance of 0.6152 trust units of APIF for each CPIF trust unit (which represents an equivalent value of $5.61 based on the last 20-day volume weighted average closing price of APIF units of $9.12) plus (b) a CVR, which receipt will entitle the holder thereof, subject to certain conditions, to a payment in cash of an amount up to approximately $0.27 per CPIF trust unit. The CVRs represent the right to receive 80% of the balance (after deduction of all claims and costs) of both the US$7.593 million reserve fund established by CPIF for claims made in connection with the sale of Gas Recovery Systems, LLC and $3.436 million in the event Erie Shores Wind Farm qualifies for Wind Power Production Incentive of $10/MW-hr.

The Board of Trustees of CPOT has, upon the recommendation from its Special Committee and after consultation with its financial and legal advisors, determined that the Offer is in the best interests of CPIF unitholders and has agreed to support the Offer and recommend that CPIF unitholders accept the Offer.

“The acquisition of CPIF is highly complementary to APIF and represents an important step in the execution of APIF’s continuing strategy to acquire high quality, long-lived assets that generate stable and sustainable cash flows. The CPIF assets are well positioned to complement APIF’s existing technologies and to leverage APIF’s technical and operating expertise”, commented Ian Robertson, a senior manager of APIF. “The acquisition enables APIF to minimize the impact of the proposed changes to taxation policies for income trusts beyond 2011, reduces APIF’s foreign exchange exposure, and results in a longer average power purchase agreement life for the combined portfolio.” The acquisition of CPIF is expected to be accretive to APIF.

John Fox, Chairman of the Special Committee, stated that “this merger with APIF represents the best outcome for CPIF unitholders and culminates a lengthy and exhaustive unitholder value enhancement process undertaken over the course of the past year. The transaction provides CPIF unitholders ongoing participation in a stronger, larger and more liquid combined entity. The Board believes that the transaction is in the best interest of CPIF unitholders and has agreed to support the Offer and recommends that CPIF unitholders accept the Offer. As part of the agreement signed today, CPIF has retained the right to solicit alternative proposals from third parties during the period the Offer is open for acceptance and to consider any proposal which may arise.”

Scotia Capital Inc., the financial advisor to CPOT, has provided an opinion to the Board of Trustees of CPOT that the consideration to be received under the proposed Offer is fair, from a financial point of view, to unitholders of CPIF.

The support agreement provides for the payment by CPIF of a break fee equal to $1,750,000 plus the amount of third party costs incurred by APIF, to a maximum of $850,000, under certain circumstances. The support agreement also contemplates termination of the management agreement