IAT Air Cargo Facilities Income Fund announces unitholder approval of
proposed combination with Huntingdon Real Estate Investment Trust

RICHMOND , BC, Dec. 7 /CNW/ - IAT Air Cargo Facilities Income Fund ("IAT") (TSX: ACF.UN) announced today that at the special meeting of its unitholders held today, unitholders passed all of the resolutions relating to the proposed combination (the "Combination") with Huntingdon Real Estate Investment Trust ("HREIT") with an exchange ratio of 9.75 trust units of HREIT for each IAT trust unit held, including: (i) a resolution approving the Combination; (ii) a special resolution, in the form set forth in the joint information circular dated November 5, 2009 , approving the IAT Declaration of Trust Amendments.

The resolution approving the Combination was passed by a majority of votes cast by unitholders. The Combination is expected to close effective January 1, 2010 .

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.

The Toronto Stock Exchange has not reviewed or approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

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