News

JOVFUNDS MANAGEMENT INC.
JOVIAN CAPITAL CORPORATION
HORIZONS FUNDS INC.

: May 9, 2008 18:25

Horizons Global Contrarian Fund to Hold Special Meeting of Unitholders

TORONTO, May 9 /CNW/ - Horizons Funds Inc., the manager of the Horizons
Global Contrarian Fund (the “Fund”), will hold a special meeting of the
unitholders of the Fund on June 5, 2008. Unitholders of record on May 1, 2008,
will be entitled to receive notice of and vote at the meeting and will be
asked to consider a proposal to amend the investment objectives of the Fund.
These amendments will broaden the investment objectives of the Fund and
clearly permit the Fund to expand its mandate by investing in traditional
commodities including, but not limited to, minerals, metals, energies, forest
products and agricultural products, leading to the potential for greater
diversification in the portfolio holdings of the Fund.
“The Fund’s advisor has extensive knowledge and experience in the
investment of commodities, and we feel that it is in the best interests of the
unitholders for us to take advantage of this expertise,” said Adam Felesky,
Chief Executive Officer of Horizons Funds Inc. “This will expand the
opportunities the Fund has and allow for further diversification of investment
opportunities available to investors,” he said.
Details of the proposal are outlined in a management information circular
to be delivered to unitholders in connection with the meeting. The management
information circular is available on www.sedar.com.

About Horizons Funds Inc.

Horizons Funds Inc. is a subsidiary of JovFunds Management Inc., a
wholly-owned subsidiary of Jovian Capital Corporation.

About JovFunds Management Inc. (www.jovfunds.com)

JovFunds provides innovative investment solutions for Canadians through
the creation, distribution and management of high quality investment products.
JovFunds manages and distributes in excess of $1.8 billion in client assets
and is wholly owned by Jovian Capital Corporation.

About Jovian Capital Corporation (www.joviancapital.com)

Jovian is a publicly-traded company listed on the TSX (JOV). Jovian is a
management and holding company with interests in a variety of financial
service firms specializing in wealth* and asset(xx) management. The Jovian
group of companies operates as a national financial services organization with
approximately $14.6 billion of client assets ($5.4 billion in assets under
management and $9.2 billion in assets under administration).

*Wealth management entities include MGI Securities Inc., MGI Securities
(USA) Inc. and Rice Financial Group Inc. (xx)Asset management entities
include BetaPro Management Inc., Horizons Funds Inc., JovFunds Management
Inc., JovFunds Inc., JovInvestment Management Inc., Leon Frazer &
Associates Inc. and T.E. Wealth. Financial corporate service entities
include Felcom Data Services Inc.

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

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/For further information: Adam Felesky, Chief Executive Officer, Horizons
Funds Inc., (416) 933-5739; Additional information about the meetings is
available at www.jovfunds.com; Additional information relating to Jovian is
available at www.sedar.com and www.joviancapital.com/

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JAGUAR FINANCIAL INC.

: May 9, 2008 17:36

Jaguar Financial announces acquisition of equity interest in Telehop and proposed take-over bid

TORONTO, May 9 /CNW/ - Jaguar Financial Inc. (”Jaguar”) (TSX: JFI)
announced its acquisition today of 1,028,500 common shares of Telehop
Communications Inc. (”Telehop”; TSXV: HOP) representing approximately 8.1% of
the total issued common shares of Telehop. The Telehop shares were acquired on
the TSX Venture Exchange for investment purposes at a price of $0.50 per
share. Combined with the Telehop common shares previously owned, Jaguar now
owns a total of 1,712,000 common shares, representing approximately 12.8% of
the total issued common shares of Telehop.
Jaguar believes the common shares of Telehop are undervalued and wishes
to assist in the enhancement of shareholder value. Jaguar has entered into
agreements with certain Telehop shareholders, who sold some of their Telehop
shares to Jaguar today, to make an offer to all Telehop shareholders to
acquire a majority of the issued shares of Telehop (including the shares
already owned by Jaguar) by June 13, 2008.

About Jaguar Financial Inc.

Jaguar is a Canadian merchant bank that invests in undervalued small
capitalization companies in a variety of industry sectors.

The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may contain
certain forward looking statements which involve known and unknown risks,
delays, and uncertainties not under Jaguar’s control which may cause
actual results, performances or achievements of Jaguar to be materially
different from those implied by such forward looking statements.

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/For further information: Kyler Wells, General Counsel, (416) 644-8177/

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STANDARD & POOR’S CANADIAN INDEX OPERATIONS

: May 9, 2008 17:17

Standard & Poor’s Announces Changes in the S&P/TSX Venture Composite Index

TORONTO, May 9 /CNW/ - Standard & Poor’s will make the following changes
in the S&P/TSX Venture Composite Index after the close of trading on Friday,
May 9, 2008:

>

Company additions to and deletions from an S&P equity index do not in any
way reflect an opinion on the investment merits of the company.

About Standard & Poor’s Index Services

Standard & Poor’s Index Services, the world’s leading index provider,
maintains a wide variety of investable and benchmark indices to meet an array
of investor needs. Its family of indices includes the S&P 500, an index with
$1.32 trillion invested and $4.91 trillion benchmarked, and the S&P Global
1200, a composite index comprised of seven regional and country headline
indices. For more information, please visit www.standardandpoors.com/indices.

About Standard & Poor’s

Standard & Poor’s, a division of The McGraw-Hill Companies (NYSE: MHP),
is the world’s foremost provider of financial market intelligence, including
independent credit ratings, indices, risk evaluation, investment research and
data. With approximately 8,500 employees, including wholly owned affiliates,
located in 23 countries, Standard & Poor’s is an essential part of the world’s
financial infrastructure and has played a leading role for more than 140 years
in providing investors with the independent benchmarks they need to feel more
confident about their investment and financial decisions. For more
information, visit: www.standardandpoors.com.

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/For further information: Tony North, (416) 507-3200,
sp_index@standardandpoors.com; Dave Guarino, (212) 438-1471,
dave_guarino@standardandpoors.com/

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RDM CORPORATION

: May 9, 2008 17:10

RDM Corporation Announces TSX Acceptance of Normal Course Issuer Bid

Toronto Stock Exchange Symbol: RC

WATERLOO, ON, May 9 /CNW/ - RDM Corporation (TSX: RC), a leading
developer of specialized software and hardware products for electronic payment
processing, announced today a Notice of Intention to make a Normal Course
Issuer Bid (the “Bid”) has been filed with and accepted by the Toronto Stock
Exchange (the “TSX”). Pursuant to the Bid, RDM may purchase of up to 1,074,391
common shares, representing approximately 5 per cent of the issued and
outstanding common shares as of May 1, 2008. The purchases may commence on May
13, 2008 and will terminate on May 12, 2009, or on such earlier date that RDM
completes its permitted purchases pursuant to the Notice or provides notice of
termination of the Bid. All purchases will be made through the facilities of
the TSX at prevailing market prices in accordance with regulatory
requirements. Subject to any block purchases made in accordance with TSX
rules, RDM will be subject to a daily repurchase restriction of 8,168 common
shares. RDM will cancel any common shares purchased pursuant to the normal
course issuer bid.
RDM’s Board of Directors believes the Company’s common shares are
currently an attractive investment and that normal course purchases at recent
market prices represent an attractive investment and a desirable use of its
available funds. As at May 1, 2008, the Company had 21,487,826 issued and
outstanding common shares.

About RDM Corporation

RDM Corporation is headquartered in Waterloo, Ontario and trades on the
Toronto Stock Exchange under the symbol RC. RDM is a leading provider of
specialized software and hardware products for electronic payment processing.
RDM has pioneered electronic check conversion systems and web based image and
transaction management services for banks, retailers, payment processors and
government agencies as well as print quality control and image quality systems
for a variety of global customers. For further information, visit RDM’s
website at www.rdmcorp.com.

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/For further information: Douglas Newman, President & CEO, RDM
Corporation, (519) 746-8483, (519) 746-3317 fax, dnewman@rdmcorp.com; James
Merwin, Chief Financial Officer, RDM Corporation, (519) 746-8483, (519)
746-3317 fax, jmerwin@rdmcorp.com/

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RDM CORPORATION

: May 9, 2008 17:10

RDM Corporation Announces TSX Acceptance of Normal Course Issuer Bid

Toronto Stock Exchange Symbol: RC

WATERLOO, ON, May 9 /CNW/ - RDM Corporation (TSX: RC), a leading
developer of specialized software and hardware products for electronic payment
processing, announced today a Notice of Intention to make a Normal Course
Issuer Bid (the “Bid”) has been filed with and accepted by the Toronto Stock
Exchange (the “TSX”). Pursuant to the Bid, RDM may purchase of up to 1,074,391
common shares, representing approximately 5 per cent of the issued and
outstanding common shares as of May 1, 2008. The purchases may commence on May
13, 2008 and will terminate on May 12, 2009, or on such earlier date that RDM
completes its permitted purchases pursuant to the Notice or provides notice of
termination of the Bid. All purchases will be made through the facilities of
the TSX at prevailing market prices in accordance with regulatory
requirements. Subject to any block purchases made in accordance with TSX
rules, RDM will be subject to a daily repurchase restriction of 8,168 common
shares. RDM will cancel any common shares purchased pursuant to the normal
course issuer bid.
RDM’s Board of Directors believes the Company’s common shares are
currently an attractive investment and that normal course purchases at recent
market prices represent an attractive investment and a desirable use of its
available funds. As at May 1, 2008, the Company had 21,487,826 issued and
outstanding common shares.

About RDM Corporation

RDM Corporation is headquartered in Waterloo, Ontario and trades on the
Toronto Stock Exchange under the symbol RC. RDM is a leading provider of
specialized software and hardware products for electronic payment processing.
RDM has pioneered electronic check conversion systems and web based image and
transaction management services for banks, retailers, payment processors and
government agencies as well as print quality control and image quality systems
for a variety of global customers. For further information, visit RDM’s
website at www.rdmcorp.com.

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/For further information: Douglas Newman, President & CEO, RDM
Corporation, (519) 746-8483, (519) 746-3317 fax, dnewman@rdmcorp.com; James
Merwin, Chief Financial Officer, RDM Corporation, (519) 746-8483, (519)
746-3317 fax, jmerwin@rdmcorp.com/

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CANADA MORTGAGE ACCEPTANCE CORPORATION

: May 9, 2008 16:38

Canada Mortgage Acceptance Corporation - Recent Announcement by DBRS on Mortgage Pass-Through Certificates

TORONTO, May 9 /CNW/ - Canada Mortgage Acceptance Corporation (”CMAC”)
announces that, on May 7, 2008, DBRS Limited (”DBRS”) placed all of the
mortgage pass-through certificates issued by CMAC (the “Certificates”) under
review with developing implications, due to ratings downgrades of CMAC’s
ultimate parent, Residential Funding Company, LLC. DBRS noted that their
rating action does not reflect the credit quality of the underlying assets or
the credit protection available in respect of the Certificates. DBRS advised
that the performance of the underlying assets for all CMAC transactions has
been within expectations and the levels of structural enhancement for each
rated class of Certificates has been increasing since the closing of its
issuance due to the gradual repayment of the Class A Certificates and the
non-amortizing nature of the subordinated Certificates. Consequently, DBRS
upgraded the CMAC C-1 and C-2 Certificates in 2006 and 2007, respectively,
subsequent to their original closing dates.
Since CMAC’s first issuance of Certificates, GMAC Residential Funding of
Canada, Limited (”RFOC”), as Administrator, retained MCAP Service Corporation,
one of the largest mortgage servicing companies in Canada, to act as a
sub-servicer to administer and service such mortgages (including
administration of realty tax accounts).
CMAC is currently in discussions with DBRS regarding DBRS’ review of its
ratings of the Certificates, and CMAC and RFOC are actively working with DBRS
to remove any cause for uncertainty with respect to the Certificates. At the
suggestion of DBRS, registered title to the mortgages underlying the
Certificates is being re-registered in the name of Computershare Trust Company
of Canada, as nominee for the Certificate holders, and other related matters
are being completed.

CMAC was created as a special purpose entity and has issued Certificates
that entitle the holders thereof to: (i) the cash flows derived from discrete
pools of mortgages, hypothecs or other charges on real or immovable property
situate in Canada, or interests therein, and any other rights, interests,
benefits and assets acquired by CMAC pursuant to the related securitization
agreements (including the proceeds thereof and any related security)
(collectively, “Assets”), that by their terms convert into cash within a
finite time period; and (ii) any rights and other assets designed to assure
the servicing or timely distribution of proceeds from the Assets to the
holders of the related Certificates. The Certificates issued by CMAC evidence
whole or undivided ownership interests in, or interests in pools of,
particular Assets. CMAC does not carry on any business except in respect of
the issuance of Certificates and the acquisition of Assets.

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/For further information: Inquiries should be directed to Jean-Philippe
Latour, Vice-President of CMAC at (416) 207-3524/

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MARKET REGULATION SERVICES INC.
MARKET REGULATION SERVICES - HALTS/RESUMPTIONS

: May 9, 2008 16:29

Market Regulation Services - Trade Resumption - Parkland Energy Services Inc. - PKE

VANCOUVER, May 9 /CNW/ - Trading resumes in:

Issuer Name: Parkland Energy Services Inc.
TSX-V Ticker Symbol: PKE
Resumption Time: May 12, 2008 - 9:30AM EST

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/For further information: Market Regulation Services Inc., (416)
646-7299/

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MARKET REGULATION SERVICES INC.
MARKET REGULATION SERVICES - HALTS/RESUMPTIONS

: May 9, 2008 16:21

Market Regulation Services - Trade Resumption - DEVSTUDIOS INTERNATIONAL INC. - DVE

VANCOUVER, May 9 /CNW/ - Trading resumes in:

Issuer Name: DEVSTUDIOS INTERNATIONAL INC.
TSX-V Ticker Symbol: DVE
Resumption Time: May 12, 2008 - 09:30 EST

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/For further information: Market Regulation Services Inc., (416)
646-7299/

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MARKET REGULATION SERVICES INC.
MARKET REGULATION SERVICES - HALTS/RESUMPTIONS

: May 9, 2008 16:16

Market Regulation Services - Trade Resumption - Mistral Pharma Inc. - MIP

VANCOUVER, May 9 /CNW/ - Trading resumes in:

Issuer Name: Mistral Pharma Inc.
TSX-V Ticker Symbol: MIP
Resumption Time: May 12, 2008 - 9:30AM EST

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/For further information: Market Regulation Services Inc., (416)
646-7299/

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TSX VENTURE EXCHANGE

: May 9, 2008 16:16

TSX Venture Exchange Daily Bulletins

VANCOUVER, May 9 /CNW/ -

>

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/For further information: Market Information Services at 1-888-873-8392,
or email: information@venture.com/

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BMO FINANCIAL GROUP
BMO INVESTMENTS INC.

: May 9, 2008 16:00

BMO Investments Inc. Retains Existing Investment Objectives of BMO Short-Term Income Class

TORONTO, May 9 /CNW/ - BMO Investments Inc., the manager of BMO
Short-Term Income Class, announced today that it will not proceed with changes
to the investment objectives of the fund. Shareholders of BMO Short-Term
Income Class previously approved changes to the investment objectives of the
fund on April 26, 2007, although shareholders also gave the manager the right
not to proceed with the proposed changes in its sole and absolute discretion.
The proposed changes, including a name change from ‘BMO Short-Term Income
Class’ to ‘BMO Capital Yield Class’, will not be implemented as BMO
Investments Inc. is not in a position to proceed with the changes in a manner
that is cost-effective and compliant with applicable regulatory requirements,
and in the best interests of shareholders of BMO Short-Term Income Class.
The investment objectives of BMO Short-Term Income Class are to provide
the opportunity to invest in a fixed-income fund for the short term, as an
alternative or in addition to the equity funds included in the BMO Global Tax
Advantage Funds and to provide current income while preserving capital and
maintaining liquidity. As part of its current investment objectives, this fund
invests primarily in high quality securities like Canadian treasury bills,
other Canadian short-term fixed-income securities and highly rated commercial
paper with terms to maturity of less than three years. BMO Short-Term Income
Class is a class of shares of BMO Global Tax Advantage Funds Inc.

About BMO Investments Inc.

BMO Investments Inc. is a member of the BMO Financial Group and part of
the organization’s Private Client Group. The Private Client Group provides
integrated wealth management services in Canada and the United States and had
total assets under management and administration and term investments of
$283 billion as at January 31, 2008.

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/For further information: Media Contacts: Paul Gammal, Toronto,
paul.gammal@bmo.com, (416) 867-3996; Lucie Gosselin, Montréal,
lucie.gosselin@bmo.com, (514) 877-1101; Laurie Grant, Vancouver,
laurie.grant@bmo.com, (604) 665-7596; Internet: www.bmo.com/

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PARC JEAN-DRAPEAU

: May 9, 2008 15:50

The Complexe Aquatique de l’île Sainte-Hélène Opens its Doors for the Summer Season!

MONTREAL, May 9 /CNW Telbec/ - The Complexe aquatique de l’île
Sainte-Hélène (Ile Sainte-Hélène Aquatic Complex) at Parc Jean-Drapeau opens
its doors on Saturday, May 10, from 11 a.m., for length swimmers. Starting on
May 24, and until September 14, the heated recreational swimming pool will be
accessible to all for the open swim. Log on to www.parcjeandrapeau.com for
full schedule details.
Bring the whole family for some Saturday fun at the Samedis gonflés, on
June 21, July 5 and 19, and August 16, 17 and 23, featuring performances by
the Mouillés, adorable characters that the young ones are sure to enjoy.
Children will also have the opportunity to play on 15-meter-high inflatable
structures and jump on the trampolines. This year the Complexe aquatique
offers many new attractions, such as a kiosk of aquatic products and new
programming, including lifesaving courses, scuba diving courses, supervised
training sessions, aquatics camps for young swimmers and school group
packages.
From May 16 to 18, don’t miss the continental Olympic qualifications and
PanAm championship at the Olympic Basin on Ile Notre-Dame. Athletes from
thirty-six countries throughout the Americas will be competing. Come out and
cheer on the athletes. Admission is free and 10 000 places are available on
the stands.

Société du parc Jean-Drapeau (SPJD) has a mandate to manage and develop
Parc Jean-Drapeau, maintain relations with partners, conserve, protect and
develop green and blue spaces, and maintain and preserve buildings, equipment
and public works of art. SPJD is managed by a seven-member board of directors
representing primarily the business community. For further information on the
Parc’s summer program of activities, please call 514 872-6120 or log on to
www.parcjeandrapeau.com.

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/For further information: Eve Cardinal, Communications Coordinator,
Société du parc Jean-Drapeau, (514) 872-6120, ecardinal@parcjeandrapeau.com/

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TSX GROUP INC.
TORONTO STOCK EXCHANGE
TSX CORPORATE ANNOUNCEMENTS

: May 9, 2008 15:39

TSX Group - Closing for Victoria Day

TORONTO, May 9 /CNW/ - Toronto Stock Exchange, Montreal Exchange and TSX
Venture Exchange will be closed for Victoria Day on Monday, May 19, 2008.
All exchanges will re-open for business on Tuesday, May 20, 2008.

About TMX Group Inc.(1)
———————–
TMX Group is the product of the business combination of TSX Group Inc.
and Montréal Exchange Inc. TMX Group is the leading integrated exchange group
in Canada, operating markets for multiple asset classes.

>

About TSX Group Inc. (TSX-X)
—————————-
TSX Group operates Canada’s two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving the
public venture equity market, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country’s first fixed income
inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading
provider of investor relations and related corporate communication services in
Canada. TSX Group is headquartered in Toronto and maintains offices in
Montreal, Calgary and Vancouver.

About Montréal Exchange Inc.
—————————-
The Montréal Exchange (MX) is the Canadian derivatives exchange. MX
offers trading in Canadian interest rate, index and equity derivatives.
Clearing, settlement and risk management services are provided by an AA rated
clearing house. MX has interests in: the Boston Options Exchange (BOX), a U.S.
automated equity options market, the Canadian Resources Exchange (CAREX), a
corporation dedicated to developing the Canadian energy market; and the
Montréal Climate Exchange (MCeX), a joint venture with the Chicago Climate
Exchange(R), which aims to establish the leading market for publicly traded
environmental products in Canada.

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/For further information: Steve Kee, Director, Corporate Communications,
TSX Group Inc., Toronto Office, (416) 947-4682, Toll Free 1-888-873-8392,
Cellular (416) 358-3714, Vancouver Office (604) 602-6902, Calgary Office (403)
218-2892, steve.kee@tsx.com; Jean Charles Robillard, Director, Investor
Relations and Communications, Montréal Exchange Inc., (514) 871-3551,
jcrobillard@m-x.ca/

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BMO FINANCIAL GROUP

: May 9, 2008 15:25

Get in the Saddle with Olympic Star Ian Millar and BMO to Win a Trip to Spruce Meadows “Masters” Tournament

CALGARY, May 9 /CNW/ - The fourth annual BMO contest that will reward one
lucky winner with a riding lesson from Canadian sports legend Ian Millar
kicked off this week. Sponsored by BMO Financial Group, the winning prize
includes a trip for two to the Spruce Meadows “Masters” tournament to be held
September 3 to 7, 2008, in Calgary, AB, highlighted by the BMO Nations’ Cup on
Saturday, September 6, 2008.
Show jumping fans can look forward to the prestigious BMO Nations’ Cup,
which brings together the best show jumping countries in the world to compete
for the most lucrative prize in team show jumping.
“Having the opportunity to give a riding lesson to a true show jumping
fan is always a pleasure, and I am looking forward to meeting the winner of
this year’s BMO contest,” said Ian Millar, who already has eight Olympic
appearances on his resume and is on track to his ninth at this summer’s
Olympic Games.
The prize is a once-in-a-lifetime experience for any horse lover. In
addition to the private riding lesson with Millar, the winner will receive two
round-trip airfares to Calgary and three nights accommodation at Homeplace
Ranch, including meals and a daily trail ride. Two seats in the BMO Skybox for
the $350,000 BMO Nations’ Cup have also been reserved for the winner.
Millar will visit the BMO Skybox before the start of the $350,000 BMO
Nations’ Cup on Saturday, September 6, 2008, and will review the challenges of
the course. Guests of BMO, including the contest winner and his or her guest,
will then be invited into the International Ring to evaluate the obstacles for
themselves, providing a true “behind-the-scenes” look at the high calibre of
competition at Spruce Meadows.
“As a founding sponsor of Spruce Meadows we are very proud of our long
history of support for equestrian sport in Canada,” said Ted McCarron, Senior
Vice President, Prairies Division, BMO Bank of Montreal. Since 1977, BMO has
sponsored the BMO Financial Group Nations’ Cup at Spruce Meadows, attracting
the top international show jumping teams to compete in Canada.
To enter and view full contest rules, please visit www.horse-canada.com.
Entries close August 14, 2008, with a random draw held August 17, 2008.

BMO Financial Group employs more than 2,300 people in Alberta providing
personal, commercial and corporate customers with expertise in many areas,
including agriculture, oil and gas, corporate banking, international finance
and wealth management. BMO Bank of Montreal serves customers through
27 branches in the Calgary District.
BMO is an active supporter of community initiatives in Alberta, donating
to the new Alberta Children’s Hospital, and through a variety of scholarship
programs is a champion of post-secondary education. BMO and its employees are
also proud of the 100 year plus legacy built with the Calgary Stampede.

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/For further information: Media Contacts: Jennifer Ward, Starting Gate
Communications, (613) 569-2423, jward@startinggate.ca; Laurie Grant, BMO
Financial Group, (604) 665-7596, laurie.grant@bmo.com/

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IAT AIR CARGO FACILITIES INCOME FUND

: May 9, 2008 13:53

IAT Air Cargo Facilities Income Fund Declares Second Quarter 2008 Distribution to Unitholders and Announces First Quarter 2008 Results

RICHMOND, B.C., May 9 /CNW/ - IAT Air Cargo Facilities Income Fund (the
“Fund”) (TSX: ACF.UN), a limited purpose trust that owns all of the shares of
International Aviation Terminals Inc. (”IAT”), which owns and leases air cargo
and aviation related buildings on ground-leased land at Canadian airports in
Vancouver, Calgary, Edmonton, Saskatoon and Winnipeg, today announced a
distribution to unitholders and reported results for the first quarter of
2008.

Second Quarter 2008 Distribution

A distribution of $0.17 will be payable on July 15, 2008 to unitholders
of record at the close of business on June 30, 2008. The distribution
represents interest income on the subordinated notes of IAT for the second
quarter 2008 less estimated administrative expenses of the Fund, and was
determined by the Trustees of the Fund based on anticipated earnings, cash
flow and capital reserves of IAT and anticipated expenses of the Fund.

Consolidated Financial Results of the Fund and IAT for the First Quarter
of 2008

For the first quarter of 2008, the Fund reported consolidated earnings of
$0.10 per unit, as compared to consolidated earnings of $0.07 per unit for the
first quarter of 2007. Results for the quarter were in line with the Fund’s
2008 full-year business plan.

Operating Results

The Fund’s portfolio of properties was 87% leased as of March 31, 2008,
up 20 basis points from December 31, 2007 and 460 basis points from March 31,
2007.
As previously announced, the Vancouver Airport Authority has executed a
lease extension with IAT at Vancouver International Airport, for a ten-year
period, in a joint arrangement with the Airport Authority. This approximately
580,000-square foot lease includes a 166,000-square foot air cargo facility at
4840 Miller Road and an adjacent truck courtyard and parking lot.
For the first quarter 2008, total rental revenues were $4.7 million, as
compared to $4.3 million for the same quarter in 2007.

Supplemental Earnings Measures

For the first quarter of 2008, earnings before interest, income taxes,
amortization, accretion and non-controlling interest’s share of earnings
(”Adjusted EBITDA”) was $1.65 million, or $0.24 per unit, as compared to $1.65
million, or $0.24 per unit, for the same quarter in 2007. For the first
quarter of 2008, funds from operations (”FFO”) was $1.36 million, or $0.19 per
unit, as compared to $1.31 million, or $0.19 per unit, for the same quarter in
2007.
Adjusted EBITDA and FFO are not recognized appropriate earning measures
under Canadian generally accepted accounting principles (”GAAP”), and are not
construed as alternatives to earnings determined in accordance with GAAP, but
are considered useful supplemental indicators of the Fund’s performance.
Detailed definitions of Adjusted EBITDA and FFO, explanations as to why
management believes these are useful supplemental measures of operating
performance and reconciliations from net income to Adjusted EBITDA and FFO are
provided in the supplemental information package filed by the Fund at
www.sedar.com.

IAT AIR CARGO FACILITIES INCOME FUND

The Fund and IAT, the Fund’s wholly-owned subsidiary, specialize in the
ownership, construction, management and marketing of aviation-related
facilities. IAT currently owns, leases and manages approximately 1.1 million
square feet of air cargo and aviation related facilities on land leased at
five of Canada’s leading international airports. Approximately 65% of the Fund
and IAT’s holdings are located at Vancouver International Airport, Canada’s
second largest airport.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS: Forward-looking statements,
including statements with respect to expected distributions, cash flows,
revenues, earnings, capital expenditures, occupancy rates, growth rates, value
of future lease extensions, ongoing business strategies or prospects. Adjusted
EBITDA, possible future Fund and IAT action and other measures are based on
information available at the time they are made, assumptions made by
management, and management’s good faith belief with respect to future events,
and are subject to the risks and uncertainties outlined in the Fund’s annual
information form that could cause actual performance or results to differ
materially from those reflected in the forward-looking statements, historical
results or current expectations. All forward-looking statements may be
affected by and are subject to the risks set out under Risk Factors in the
Fund’s annual information form.

-30-

/For further information: IAT CONTACT: Alison M. Hill, President & Chief
Executive Officer, International Aviation Terminals Inc., Direct (415)
733-9499, Fax (415) 477-2199, Email ahill@amb.com/

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POWER CORPORATION OF CANADA

: May 9, 2008 13:40

Power Corporation of Canada - Appointment of Deputy Chairman; Election of a New Director

MONTREAL, May 9 /CNW Telbec/ - The Board of Directors of Power
Corporation of Canada today appointed Mr. Robert Gratton as Deputy Chairman of
the Board.
Mr. Gratton served as Chairman, President and Chief Executive Officer of
Power Financial Corporation’s subsidiary, Montreal Trust, from 1982 to 1989.
He was named President and Chief Executive Officer of Power Financial in 1990,
and was executive Chairman of the Power Financial Board from May, 2005 until
May 8, 2008, when he announced his retirement. He continues to be a member of
Power Financial’s Board of Directors.
Commenting on his appointment as Deputy Chairman, Mr. Gratton said that
he looks forward to his ongoing association with the Power group and that
shareholders of Power Corporation and Power Financial Corporation can count on
his continuing interest in and support of the group companies and their
management.

ELECTION OF A NEW DIRECTOR
————————–

At their meeting today the shareholders elected Raymond McFeetors to the
Board of Directors. Yesterday, Mr. McFeetors was appointed Vice-Chairman of
the Board of Power Financial Corporation.
Power Corporation is a diversified international management and holding
company with interests in the financial services industry in North America and
Europe. Through affiliates, Power Corporation holds diversified industrial
interests in Europe and China.

Forward-looking Statements
————————–

Certain statements in this press release, other than statements of
historical fact, are forward-looking statements based on certain assumptions
and reflect the Corporation’s or its subsidiaries’ current expectations.
Forward-looking statements are provided for the purpose of presenting
information about management’s current expectations and plans relating to the
future and readers are cautioned that such statements may not be appropriate
for other purposes.These statements may include, without limitation,
statements regarding the operations, business, financial condition,
priorities, ongoing objectives, strategies and outlook of Power Corporation
and its subsidiaries for the current fiscal year and subsequent periods.
Forward-looking statements include statements that are predictive in nature,
depend upon or refer to future events or conditions, or include words such as
“expects”, “anticipates”, “plans”, “believes”, “estimates”, “intends”,
“targets”, “projects”, “forecasts” or negative versions thereof and other
similar expressions, or future or conditional verbs such as “may”, “will”,
“should”, “would” and “could”.
This information is based upon certain material factors or assumptions
that were applied in drawing a conclusion or making a forecast or projection
as reflected in the forward-looking statements, including the perception of
historical trends, current conditions and expected future developments, as
well as other factors that are believed to be appropriate in the
circumstances.
By its nature, this information is subject to inherent risks and
uncertainties that may be general or specific. A variety of material factors,
many of which are beyond the Corporation’s and its subsidiaries’ control,
affect the operations, performance and results of the Corporation and its
subsidiaries, and their businesses, and could cause actual results to differ
materially from current expectations of estimated or anticipated events or
results. These factors include, but are not limited to: the impact or
unanticipated impact of general economic, political and market factors in
North America and internationally, interest and foreign exchange rates, global
equity and capital markets, management of market liquidity and funding risks,
changes in accounting policies and methods used to report financial condition,
including uncertainties associated with critical accounting assumptions and
estimates, the effect of applying future accounting changes, business
competition, technological change, changes in government regulation and
legislation, changes in tax laws, unexpected judicial or regulatory
proceedings, catastrophic events, the Corporation’s and its subsidiaries’
ability to complete strategic transactions and integrate acquisitions, and the
Corporation’s and its subsidiaries’ success in anticipating and managing the
foregoing factors.
The reader is cautioned that the foregoing list of factors is not
exhaustive of the factors that may affect any of the Corporation’s and its
subsidiaries’ forward-looking statements. The reader is also cautioned to
consider these and other factors carefully and not to put undue reliance on
forward-looking statements.
Other than as specifically required by law, the Corporation undertakes no
obligation to update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made, or to reflect
the occurrence of unanticipated events, whether as a result of new
information, future events or results, or otherwise.
Additional information about the risks and uncertainties associated with
the Corporation’s business is provided in its disclosure materials, including
its most recent Management’s Discussion and Analysis and Annual Information
Form, filed with the securities regulatory authorities in Canada, available at
www.sedar.com.

Non-GAAP Financial Measures
—————————

In analysing the financial results of the Corporation and consistent with
the presentation in previous years, net earnings are subdivided into the
following components:

>

Management has used these financial measures for many years in its
presentation and analysis of the financial performance of Power Corporation,
and believes that they provide additional meaningful information to readers in
their analysis of the results of the Corporation.
As a consequence of GWL&A’s sale of its healthcare business, the results
from Lifeco’s U.S. healthcare business are presented in the consolidated
financial statements as “discontinued operations”, in accordance with GAAP,
Power Corporation’s share of these results is included in operating earnings.
Operating earnings and operating earnings per share are non-GAAP
financial measures that do not have a standard meaning and may not be
comparable to similar measures used by other entities.

-30-

/For further information: Edward Johnson, Senior Vice-President, General,
Counsel and Secretary, (514) 286-7400/

—–

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PALA INVESTMENTS HOLDINGS LIMITED

: May 9, 2008 13:12

Investments of Pala Investments Holdings Limited in Gemcom Software International Inc.

TORONTO, May 9 /CNW/ - Pala Investments Holdings Limited (”PIHL”)
announced today that it has acquired, through the facilities of The Toronto
Stock Exchange, ownership of an aggregate 3,036,700 common shares of Gemcom
Software International Inc. (”Gemcom”). This acquisition increases PIHL’s
share ownership in Gemcom to 9,352,500 common shares representing, to the
knowledge of PIHL, 17.50% of the issued and outstanding shares of Gemcom. PIHL
has acquired the shares for investment purposes only. PIHL may acquire
additional securities if they become available at prices that are attractive
to PIHL.

-30-

/For further information: Jan Castro at 011 41 41 560 9070/

—–

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MARKET REGULATION SERVICES INC.
MARKET REGULATION SERVICES - HALTS/RESUMPTIONS

: May 9, 2008 12:35

Market Regulation Services - Trading Halt - Golconda Resources Ltd. - GA

VANCOUVER, May 9 /CNW/ - The following issues have been halted by Market
Regulation Services (RS):

Issuer Name: Golconda Resources Ltd.
TSX-V Ticker Symbol: GA
Time of Halt: 12:28 ET
Reason for Halt: Pending News

-30-

/For further information: contact - RS Inquiries (416) 646-7299 - *
Please note that RS is not able to provide any additional information
regarding a specific trading halt. Information is limited to general enquiries
only./

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CANADIAN SCHOOL OF ROCK

: May 9, 2008 12:11

Canadian School of Rock Summer Rockstar Camp

TORONTO, May 9 /CNW/ -

1 week programs for musicians ages 8 - 17 years
June 30 - August 15, 2008
HANDS ON LEARNING
Guitar, Bass, Drums, Keyboards, Vocals, Songwriting
Musical instruction, band rehearsals, stage presence,
Daily fitness
A LIVE ROCK SHOW PERFORMANCE
BEAUTIFUL LEASIDE LOCATION

-30-

/For further information: CONTACT: Carolyn Hotton, COMPANY NAME: Canadian
School of Rock, TELEPHONE: (416) 967-ROCK (7625), FAX: (416) 544-8154, EMAIL:
canadianschoolofrock@gmail.com, WEBSITE: www.canadianschoolofrock.com/

—–

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MARKET REGULATION SERVICES INC.
MARKET REGULATION SERVICES - HALTS/RESUMPTIONS

: May 9, 2008 11:30

Market Regulation Services - Trade Resumption - Esperanza Silver Corp. - EPZ

VANCOUVER, May 9 /CNW/ - Trading resumes in:

Issuer Name: Esperanza Silver Corp.
TSX-V Ticker Symbol: EPZ
Resumption Time: 12:15 EDT

-30-

/For further information: Market Regulation Services Inc., (416)
646-7299/

—–

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