Citadel Income Fund Announces Special Meeting of Unitholders to Vote on a Change of Manager and Trustee of the Fund

CTF.UN

TORONTO, Nov. 26, 2012 /CNW/ - Crown Hill Capital Corporation, the manager and trustee of Citadel Income Fund (the "Fund"), announces it has called a special meeting of holders (the "Unitholders") of units of the Fund (the "Units") for December 18, 2012 at 9:00 a.m. (Toronto time) (the "Meeting").

The purpose of the Meeting is to consider and, if thought appropriate, approve:

(a) the appointment of Artemis Investment Management Limited as manager and trustee of the Fund;

(b) the right for Unitholders to voluntarily elect to receive a cash retraction of an aggregate of up to 1,000,000 (one million) Units of the Fund for an amount expected to be 100% of the net asset value per Unit,

all as further described in the extraordinary resolution attached as Schedule "A" to the management information circular (the "Circular").

The record date for the meeting was November 9, 2012. The Circular was mailed to all Unitholders of record on November 26, 2012 and has been filed on the System for Electronic Document Analysis and Retrieval (SEDAR). Unitholders are encouraged to refer to the Circular for further information about the Meeting and the matters to be voted upon.

Beneficial holders of Units should contact their financial advisors with respect to instructions on how to vote at the Meeting.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

SOURCE: Citadel Income Fund

please contact the Investor Relations department at 416.361.9673 or toll-free at 1.877.261.9674.