News Releases

CALGARY, ALBERTA - Oct. 6, 2006 /CNW/ - Newalta Income Fund (TSX:NAL.UN) ("Newalta") today announced it has completed the previously announced acquisition of the hazardous waste and industrial cleaning division of Services Matrec Inc. from TransForce Income Fund for $31.8 million cash.

"The experienced people and high-quality facilities provide a solid platform for our expanding services in Quebec," said Al Cadotte, President and Chief Executive Officer of Newalta.

Newalta Income Fund has delivered dynamic profitable growth and generated compound annual revenue growth of 30% since 1993. Newalta, one of Canada's largest industrial waste management companies, focuses on maximizing the value inherent in industrial waste through the recovery of saleable products and recycling. Newalta 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. For more information, visitwww.newalta.com.