News Releases

CALGARY, ALBERTA – October 15, 2007 /CNW/ - Newalta Income Fund ("Newalta") announced that it has entered into a new amended credit agreement with a lending syndicate of seven financial institutions led by CIBC.

The new, two-year, $425 million extendible revolving credit facility will be used to fund growth capital expenditures as well as general corporate purposes.

"This new credit facility provides us the financial capacity to continue to grow and diversify our business and to deliver superior value for our investors," said Ron Sifton, Executive Vice President and Chief Financial Officer.

Newalta Income Fund is one of Canada's leading industrial waste management and environmental services companies and focuses on maximizing the value inherent in industrial waste through the recovery of saleable products and recycling. It also provides environmentally sound disposal of solid, non-hazardous industrial waste. With talented people and a national network of facilities, Newalta serves customers in the automotive, forestry, manufacturing, mining, oil and gas, petrochemical, pulp and paper, steel and transportation service industries. Providing solid investor returns, exceptional customer service, safe operations and environmental stewardship has enabled Newalta to expand into new service sectors and geographic markets. Newalta Income Fund's units trade on the TSX as NAL.UN. For more information, visit www.newalta.com.