Management Proposes Transaction to Acquire Drive Products Income Fund (TSX:DPI.UN)

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2009) - Greg Edmonds and Russell Bilyk announced today that they have proposed a transaction to the board of trustees of Drive Products Income Fund (the "Fund")(TSX:DPI.UN) under which an entity controlled by Mr. Edmonds and Mr. Bilyk would acquire all of the units of the Fund which they do not already own at a price of C$1.55 per unit, which represents a premium of C$0.30 or 24%, based on the volume weighted average closing price of the units of $1.25 for the 20 day period ending on January 19, 2009. 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).

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.

A formal offer has not yet been made to unitholders. At this time, Mr. Edmonds and Mr. Bilyk are not legally obligated to proceed with a formal offer and no assurance can be given that any transaction will be undertaken.