Company Taken Over

Effective July 20th, 2007, Arriscraft International Income Fund was taken over by General Shale Brick for a price of $7.65 per unit. Following this initial payment, the Trustee continued to hold funds of $0.20 per unit in a reserve, which may be paid to unitholders after closing. Please refer to documentation from Arriscraft regarding the exact details of the taxation of this transaction.