General Donlee Income Fund Announces June 2010 Distribution

TORONTO, July 15 /CNW/ - General Donlee Income Fund (TSX: GDI.UN) announced today that it has declared a cash distribution of $0.090 per unit for the month of June 2010, payable on July 30, 2010 to Unitholders of record at the close of business on July 27, 2010. The ex-distribution date for the June distribution is July 23, 2010.

General Donlee Income Fund pays cash distributions to Unitholders near month end, for the prior month, with a record date, usually three business days earlier. Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.

General Donlee Income Fund is a trust established to hold the securities of General Donlee Limited, which is a leading diversified manufacturer of precision-machined products for the military, commercial and general aerospace industries and also is a specialist in the manufacture of precision-machined products for the industrial products and power generation industries.

Certain forward-looking statements contained in this news release are based on information, currently available to management, but are subject to a number of uncertainties and risks that could cause actual results to differ materially from the results discussed in the forward-looking statements. These uncertainties and risks include, but are not limited to: dependence on commercial aircraft sales and defence procurement, power generation sales and sales to the industrial sector, production rates, timing of deliveries, dependence on key customers, dependence on third party suppliers and manufacturers, competition, product liability and warranty claims, environmental and other government regulation, quality certification requirements, hedging effects, interest and foreign exchange rates, leverage and restrictive debt covenants, pension performance, funding and expenses, continued availability of credit facilities, insurance availability and coverage, regulatory requirements, reliance on key personnel and our skilled workforce, changes in accounting policies, the ability to obtain orders and domestic and international economic conditions. Further information can be found in the disclosure documents filed by General Donlee Income Fund with the securities regulatory authorities, available at www.sedar.com. or through the Fund's website at www.generaldonlee.com.

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For further information: Gerald Thain, Chief Financial Officer, Telephone: [phone], E-mail: [email protected], Web site: www.generaldonlee.com