Australian Banc Income Fund Declares Special Distributions

TORONTO, Dec. 18, 2012 /CNW/ - Connor, Clark & Lunn Capital Markets Inc., the Manager of Australian Banc Income Fund (the "Fund"), has declared the following distributions to be paid on January 15, 2013 to Unitholders of record on December 31, 2012.  The distribution amounts are inclusive of the regular quarterly distribution amount of $0.1875 per Class A and Class F Unit. The Fund's investment activities generated more taxable income than was distributed during the year. Accordingly, a special distribution to Unitholders is required.

Fund	Trading Symbol	Distribution Amount (per Unit)	Record Date	Payable Date
Australian Banc Income Fund, Class A	AUI.UN	$0.3043	Dec. 31, 2012	Jan. 15, 2013
Australian Banc Income Fund, Class F	Not listed	$0.3163	Dec. 31, 2012	Jan. 15, 2013

Connor, Clark & Lunn Capital Markets Inc. (CC&L Capital Markets) is a leading Canadian structured financial products investment firm that is focused on creating and managing high quality investment vehicles that will stand the test of time and ultimately allow our clients to achieve their personal financial goals. Formed in 2001, CC&L Capital Markets has designed, launched and currently manages several investment vehicles, raising approximately $2.2 billion in assets since 2004.

CC&L Capital Markets is part of the Connor, Clark & Lunn Financial Group.  Connor, Clark & Lunn Financial Group provides investment management services to individuals, advisors, pension plans, institutional investors and foundations.  The investment platform offers a broad range of traditional and alternative investment management services, including domestic and international equities and fixed income, hedge funds, private equity and infrastructure.

As Canada's only multi-boutique asset management firm, Connor, Clark & Lunn Financial Group is uniquely focused on creating the conditions for success for its clients, partners and employees.  The firm has offices in Vancouver, Edmonton, Calgary, Regina, Toronto, Ottawa and Montreal and through its affiliated investment managers is responsible for the investment of over $42 billion in assets under management.

SOURCE: Australian Banc Income Fund

For more information, please visit www.cclcapitalmarkets.com or contact:

Darren Cabral
Vice President & CFO
Connor, Clark & Lunn Capital Markets Inc.
416-214-6182
Toll Free: 1-888-276-2258
[email protected]