Tree Island Announces Appointment of Dale MacLean as President and CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2011) - Tree Island Wire Income Fund (TSX VENTURE:TIL.UN) (the "Fund") today announced that Dale MacLean has been appointed President and Chief Executive Officer of Tree Island Industries ("Tree Island" or "the Company") effective July 18^th, 2011. Mr. MacLean will also join the Board of Trustees of the Fund on that date.

"We are very pleased to welcome Dale MacLean as Tree Island's new CEO," said Amar Doman, Chair of the Board of Trustees. "Dale is a results-oriented leader with extensive knowledge of marketing, sales, operations, and supply chain logistics."

Prior to joining Tree Island, Mr. MacLean served as Executive Vice President and General Manager of Taymor Industries, a leading supplier of decorative and builders' hardware to the North American building products market. In this position, he worked with many of the same clients and distribution channels that Tree Island currently serves. Mr. MacLean has also served as Chairman of the Board for the Prince Rupert Port Authority for the past 5 years.

Mr. MacLean's career includes over two decades with CN Rail and BC Rail where he held progressively senior positions in sales, marketing, customer service and operations management. Prior to joining Taymor, he held responsibility for BC Rail's $325 million Forest Products, Bulk and Intermodal commercial portfolios as Vice President Marketing and Sales. He is an honors graduate of Seneca College and holds a Masters of Business Administration degree from the University of Western Ontario.

Mr. MacLean succeeds Ted Leja who served as President and CEO of Tree Island from 1994 to 2006 and returned to assume interim leadership of the company in July 2009. Mr. Leja will continue to serve as Vice-Chair of Tree Island Wire Income Fund's Board of Trustees.

Said Mr. Doman, "On behalf of the Board, I thank Ted Leja for coming out of retirement to lead Tree Island these past two years. He has played a key role in helping us rebuild a fundamentally strong and sound business during difficult times, and he has assured us of his continuing assistance over the coming months to ensure a smooth transition to new leadership. Over the longer term, we will continue to benefit from Ted's wise counsel as a member of our Board of Trustees. I believe Tree Island is now well positioned for the future with a capable and energetic management team, and a strong and experienced Board of Trustees."

About Tree Island

Headquartered in Richmond, British Columbia, Tree Island Industries produces wire products for a diverse range of construction, agricultural, 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 and TI Imports brand names. Tree Island also owns and operates a Hong Kong-based trading company that helps source products internationally for the Company and its customers.

Tree Island Wire Income Fund was launched on November 12, 2002 with the completion of an initial public offering. The Fund has a 100% ownership interest in Tree Island and its performance depends entirely on the performance of Tree Island.

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 the risks and uncertainties discussed under the heading "Risk Factors" in the Fund's annual information form and management discussion and analysis for the year ended December 31, 2010.

Forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the statements. Such risks and uncertainties include, but are not limited to: general economic conditions and markets and, in particular, the potential impact of the current economic downtown, risks associated with operations such as competition, dependence on the construction industry, market conditions for the company's products, supplies of and costs for its raw materials, dependence on key personnel, labour relations, regulatory matters, environmental risks, the successful execution of acquisition and integration strategies and other strategic initiatives, foreign exchange fluctuations, the effect of leverage and restrictive covenants in financing arrangements, the cost and availability of capital, the possibility of deterioration in working capital position, the impact on liquidity if the Fund were to go offside of covenants in its debt facilities, the impact that changes in supplier payment terms or slow payment of accounts receivable could have on liquidity, product liability, the ability to obtain insurance, energy cost increases, changes in tax legislation, other legislation and governmental regulation, changes in accounting policies and practices, operations in a foreign country, and other risks and uncertainties set forth in the Fund's publicly filed materials.

This press release has been reviewed by the Fund's Board of Trustees and its Audit Committee, and 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.