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Press release from CNW Group

Exchange Income Corporation Announces Closing of Offering of Debentures

Tuesday, January 11, 2011

Exchange Income Corporation Announces Closing of Offering of Debentures09:22 EST Tuesday, January 11, 2011/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/WINNIPEG, Jan. 11 /CNW/ - Exchange Income Corporation (TSX:  EIF) (the "Corporation") announced today that it has closed its previously announced bought deal offering (the "Offering") of five-year 5.75% Series I Convertible Senior Secured Debentures (the "Debentures").  At the closing of the Offering, the Corporation issued $35,000,000 principal amount of Debentures to the underwriters of the Offering.The Corporation has also granted the underwriters an option to purchase up to an additional $5,250,000 aggregate principal amount of Debentures, exercisable for up to 30 days after the closing of the Offering.The underwriters of the Offering were National Bank Financial Inc., TD Securities Inc., Wellington West Capital Inc., CIBC World Markets Inc., Raymond James Ltd., Laurentian Bank Securities Inc., and PI Financial Corp. National Bank Financial Inc. and TD Securities Inc. acted as co-lead underwriters.The Corporation intends to use the net proceeds of the Offering to reduce the indebtedness of the Corporation outstanding under its revolving credit facility and for general corporate purposes.About Exchange Income Corporation Exchange Income Corporation is a diversified acquisition-oriented company, focused on opportunities in the industrial products and transportation sectors which are ideally suited for public markets except for their size. The strategy of the Corporation is to invest in profitable, well-established companies with strong cash flows operating in niche markets in Canada and/or the United States.The Corporation is currently operating in two niche business segments: aviation and specialty manufacturing. The aviation segment consists of Perimeter Aviation LP, Keewatin Air LP, Calm Air International LP and Bearskin Lake Air Service LP, and the specialty manufacturing segment consists of Jasper Tank Ltd., Overlanders Manufacturing LP, Water Blast Manufacturing LP, and Stainless Fabrication, Inc.  For more information on Exchange Income Corporation, please visit www.exchangeincomecorp.ca.Additional information relating to the Corporation, including all public filings, is available on SEDAR (www.sedar.com).For further information: Mike Pyle President and CEO Exchange Income Corporation (204) 982-1850 mpyle@eig.caJoe Racanelli Investor Relations The Equicom Group Inc. (416) 815-0700 Ext. 243 jracanelli@equicomgroup.com