Management Decides Not to Proceed With Proposal to Acquire Drive Products Income Fund (TSX:DPI.UN)

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2009) - Drive Products Income Fund (TSX:DPI.UN) -

Greg Edmonds and Russell Bilyk announced today that they will not proceed with their proposal to acquire all of the units of the Fund which they do not already own. Mr. Edmonds and Mr. Bilyk together currently hold approximately 52.8% of the outstanding units on a fully diluted basis (assuming the exchange of Class B LP units for units of the Fund). After receiving feedback from unitholders, it became clear that the price that would be required to complete the deal would be significantly higher than the financing available. Management is still confident in the business and views it with a long term outlook. They will concentrate their time and efforts on managing the business during these turbulent times and in the interest of all unitholders.

Mr. Edmonds is the Chief Executive Officer and Mr. Bilyk is the President of the general partner of Drive Products Limited Partnership ("DPLP"). The Fund indirectly holds an interest in DPLP and its operating subsidiary, Drive Products general partnership.