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<br />
<br /> IBIINCOME FUND
<br /> Interim Consolidated Statements of Changes in Unitholders' Equity
<br /> (In thousands of dollars)
<br /> (Unaudited)
<br /> Three months Three months Six months Six months
<br />t ended ended ended ended
<br /> June 30, June 30, June 30, June 30,
<br /> 2007 2006 2007 2006
<br />~ Unit capital:
<br />Unit capital, beginning of period $ 89,220 $ 89,220 $ 89,220 $ 50,258
<br /> Units issued from treasury 38,962
<br />t Unit capital, end of period 89,220 89,220 89,220 89,220
<br /> Deficit:
<br /> Deficit, beginning of period (10,246) (10,741) (10,659) (9,580)
<br /> Cumulative impact of implementing new
<br /> accounting standards (note 3) (315)
<br /> (10,246) (10,741) (10,974) (9,580)
<br /> Net earnings 5,566 2,839 9,064 5,159
<br /> Distributions declared to Unitholders (2,913) (2,570) (5,683) (4,401 )
<br /> Issue costs (108) (1,758)
<br /> Deficit, end of period (7,593) (10,580) (7,593) (10,580)
<br /> Accumulated other comprehensive loss (note 3):
<br /> Balance, beginning of period (768) (2)
<br /> Current impact of implementing new
<br /> accounting standards (867) (18)
<br /> Net change in cumulative translation
<br /> adjustment 26 (16) 33
<br /> Change in fair value of derivative designated
<br /> as cash flows hedge 655 747
<br />t Balance, end of period (87) (18) (87) (18)
<br /> Total Unitholders equity, end of period $ 81,540 $ 78,622 $ 81,540 $ 78,622
<br />~ Interim Consolidated Statements of Comprehensive Income
<br /> (In thousands of dollars)
<br />t (Unaudited)
<br /> Three months Three months Six months Six months
<br /> ended ended ended ended
<br />~ June 30, June 30, June 30, June 30,
<br /> 2007 2006 2007 2006
<br />~ Net earnings $ 5,566 $ 2,839 $ 9,064 $ 5,159
<br /> Other comprehensive income (note 3):
<br />~ Unrealized gains and losses on translating
<br />financial statements of self sustaining
<br />foreign operations 26 (16) 33
<br /> Change in fair value of derivative
<br />~ designated as cash flows hedge 655 747
<br /> Comprehensive income $ 6,247 $ 2,823 $ 9,844 $ 5,159
<br />~
<br />r 3
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