VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2012) - Tree Island Wire Income Fund ("Tree Island" or the "Fund") (TSX:TIL.UN) (TSX:TIL.DB) - Tree Island Wire Income Fund announced today that its operating company, Tree Island Industries Ltd. and Teamster Local 213 have successfully concluded a new three-year collective agreement. The agreement, which covers hourly employees at Tree Island's Richmond, BC manufacturing facility, was concluded after the unionized employees voted for ratification this past weekend. The new collective agreement is retroactive to July 1, 2012 and introduces, among other improvements, a new wage and benefits structure that will provide for a long term foundation of improved labour and productivity costs.

"We are pleased to have reached a balanced, long-term agreement with the Teamsters and I want to thank the bargaining unit and all members for their continued support and leadership as we re-position the company toward sustained profitability," said Dale R. MacLean, President and CEO of Tree Island Industries and a Trustee of the Fund. "This now gives us added stability for our customers, employees and suppliers as we continue to build on our strengths and focus on our goals of manufacturing and service excellence, while growing profitable business lines."

About Tree Island Wire Income Fund

The Fund was launched on November 12, 2002 with the completion on an initial public offering. The Fund has a 100% ownership interest in Tree Island Industries Ltd and its performance depends on the performance of Tree Island Industries Ltd. Headquartered in Richmond, British Columbia, Tree Island Industries Ltd. produces wire products for a diverse range of construction, industrial, residential, manufacturing, and industrial applications. Its products include bright wire, stainless steel wire and galvanized wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products, engineered structural mesh, fencing and other fabricated wire products. The company markets these products under the Tree Island, Halsteel, K-Lath, Industrial Alloys, Tough Strand, and TI Select brand names.

Forward-Looking Statements

This press release includes forward-looking information with respect to the Fund and the company, including their business, operations and strategies, as well as financial performance and conditions. The use of forward-looking words such as, "may," "will," "expect" or similar variations generally identify such statements. Any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Although management believes that expectations reflected in forward-looking statements are reasonable, such statements involve risks and uncertainties including risks and uncertainties discussed under the heading "Risk Factors" in the Fund's most recent annual information form and management discussion and analysis.

The forward looking statements contained herein reflect management's current beliefs and are based upon certain assumptions that management believes to be reasonable based on the information currently available to management. By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward looking statements. In evaluating these statements, prospective investors should specifically consider various factors including the risks outlined in the Fund's most recent annual information form and management discussion and analysis which may cause actual results to differ materially from any forward looking statement. Such risks and uncertainties include, but are not limited to: general economic, market and business conditions, the cyclical nature of our business and demand for our products, financial condition of our customers, competition, volume and price pressure from import competition, deterioration in the Company's liquidity, disruption in the supply of raw materials, volatility in the costs of raw materials, significant exposure to the Western United States due to lack of geographic diversity, dependence on the construction industry, transportation costs, foreign exchange fluctuations, leverage and restrictive covenants, labour relations, trade actions, dependence on key personnel and skilled workers, reliance on key customers, intellectual property risks, energy costs, un-insured loss, credit risk, operating risk, management of growth, changes in tax, environmental and other legislation, and other risks and uncertainties set forth in our publicly filed materials.

This press release contains information that is current as of the date of this press release, unless otherwise noted. Events occurring after that date could render the information contained herein inaccurate or misleading in a material respect. Readers are cautioned not to place undue reliance on this forward-looking information and management of the Fund undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise except as required by applicable securities laws.

Contact Information:

Tree Island Industries Ltd.
Nancy Davies
Chief Financial Officer
(604) 523-4587