Attention Business/Financial Editors: Clearwater Seafoods Income Fund Announces Availability of 2007 Tax Information /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ HALIFAX, March 17/CNW/ - (TSX:CLR.UN): Clearwater Seafoods Income Fund (the "Fund") announced today that the breakdown of taxable income and return on capital relating to cash distributions declared in the 2007 calendar year was 76% dividend income, 23% return of capital and 1% other income for Canadian residents. A schedule of distributions declared in 2007 is available at www.clearwater.ca. The Fund is currently not paying distributions on its units and under this scenario currently estimates that holders of units will receive an allocation of taxable income as a result of their ownership of units of the Fund in 2008 of approximately 70% dividends and 30% other income. The Fund will update this at such time as there is a change in the status of distributions. This news release contains forward-looking statements limited to the taxation of distributions in fiscal 2008. Such statements involve known and unknown risks, uncertainties and other factors outside management's control that could cause actual results to differ materially from those expressed in the forward-looking statements. The Fund does not assume responsibility for the accuracy and completeness of the forward-looking statements and does not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. About Clearwater Clearwater is recognized for its consistent quality, wide diversity and reliable delivery of premium seafood, including scallops, lobster, clams, cold water shrimp, crab and groundfish. Since its founding in 1976, Clearwater has invested in science, people, technology, resource ownership and resource management to preserve and grow its seafood resource. This commitment has allowed it to remain a leader in the global seafood industry. For further information: Robert Wight, Chief Financial Officer, Clearwater, (902) 457-2369; Tyrone Cotie, Director of Corporate Finance and Investor Relations, Clearwater, (902) 457-8181.
Clearwater Seafoods Income Fund Announces Availability of 2007 Tax Information
| Source: Clearwater Finance Inc.