Cargojet agrees to acquire remaining 49% interest in Prince Edward Air

Cargojet Income Fund reported that Cargojet Airways, a company owned by the Fund, has agreed to acquire the remaining 49% interest in Prince Edward Air (“PEAL”), its regional operator of cargo aircraft based in Eastern Canada. Cargojet Airways had previously acquired a 51% interest in PEAL on May 1, 2008. The transaction is scheduled to close March 31, 2009 and is subject to completion of Cargojet’s operational due diligence.