Company Sold

August 31, 2012 - Cinram International Income Fund (TSX: CRW.UN) (together with its subsidiaries, the "Fund") announced today that it has completed the sale of substantially all of the Fund’s assets and businesses in the United States and Canada to newly formed affiliate of Najafi Companies (“Najafi”). Under the transaction, Najafi purchased substantially all of the assets used in the Fund’s core businesses of the manufacture of pre-recorded multimedia products and the provision of related logistics services, digital media solutions and outsourced vendor management inventory services in North America. The Fund expects to complete the previously announced sale of substantially all of its European assets and businesses to affiliates of Najafi in the fourth quarter. The new organization will continue to be known and conduct business as “Cinram.”