IAT Air Cargo Facilities Income Fund Announces Receipt of Updated Fairness
Opinion

RICHMOND , BC, Dec. 3 /CNW/ - IAT Air Cargo Facilities Income Fund ("IAT") (TSX: ACF.UN) announced today that further to its News Release of November 24, 2009 , regarding the proposed combination with Huntingdon Real Estate Investment Trust ("HREIT") (TSX: HNT.UN) pursuant to the amended combination agreement dated November 24, 2009 (the "Amended Agreement") between IAT and HREIT, it has received an updated written fairness opinion dated November 26, 2009 from its financial advisor, Dundee Securities.

IAT's financial advisor, Dundee Securities, opined that the consideration to be received pursuant to the Amended Agreement is fair, from a financial point of view, to IAT unitholders.

IAT is an unincorporated, open-ended mutual fund trust under the laws of British Columbia, which is listed on the Toronto Stock Exchange under the symbol ACF.UN. IAT owns all of the shares of International Aviation Terminals Inc. ("IAT Inc.") and IAT Management Limited Partnership ("IAT Management LP"). IAT, IAT Inc. and IAT Management LP, specialize in the ownership, construction, management and marketing of aviation-related facilities. IAT currently owns, leases and manages approximately 1.1 million square feet of air cargo and aviation related facilities, on ground-leased land at five of Canada's leading international airports. Approximately 65% of IAT's holdings are located at Vancouver International Airport, Canada's second largest airport, with the balance of the facilities located in Calgary , Edmonton , Saskatoon and Winnipeg . IAT Management LP provides management, operation and administrative services to IAT. More information about IAT Air Cargo Facilities Income Fund can be found on its website www.iat-yvr.com.

    
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For further information: IAT CONTACT, Zachary R. George, President and Chief Executive Officer, Tel: [phone], Fax: [phone], Email [email protected]