Wealhouse Partners Announces Acquisition of Units of Canadian Helicopters
Income Fund

    
    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES
    

TORONTO , Oct. 2 /CNW/ - Wealhouse Partners (the "Offeror"), the investment manager of a number of investment funds, segregated funds and managed accounts (collectively, the "Funds"), announces that on April 1, 2009 , the Offeror, on behalf of one or more Funds managed by it, acquired an aggregate of 25,000 units (the "Units") of Canadian Helicopters Income Fund (the "Issuer") on the open market through the facilities of the Toronto Stock Exchange (the "TSX") at a trading price of $9.14 per Unit (excluding commission charges). This acquisition represented 0.24% of the issued and outstanding Units as at April 1, 2009 .

The Units acquired by the Offeror, on behalf of one or more of the Funds managed by it, are held for investment purposes. These investments will be reviewed on a continuing basis by the Offeror and such holdings may be increased or decreased in the future. The Offeror, on behalf of one or more of the Funds managed by it, may in the future acquire or dispose of the Units, through the open market, privately or otherwise, as circumstances or market conditions warrant.

Immediately after the completion of the transaction referred to above, the Offeror, on behalf of one or more Funds managed by it, exercised control or direction over an aggregate of 1,053,900 Units, representing 10.19% of the issued and outstanding Units as at April 1, 2009 .

The Offeror, on behalf of one or more Funds managed by it, made several acquisitions and dispositions of Units on the open market through the facilities of the TSX after the date of the transaction giving rise to the reporting obligation. After giving effect to all acquisitions and dispositions of Units up to the date hereof, the Offeror, on behalf of one or more Funds managed by it, now exercises control or direction over an aggregate of 1,065,000 Units, representing 10.29% of the issued and outstanding Units as at the date hereof.

The Offeror has filed an early warning report pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues describing the above transaction with applicable securities regulatory authorities, a copy of which shall be sent promptly to anyone who requests it from the representative of the Offeror noted below.

For further information: Scott Morrison, Chief Investment Officer, Wealhouse Partners, Suite 2404, 401 Bay Street, Toronto, Ontario, M5H 2Y4, Telephone: [phone], Facsimile: [phone]