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ARCTIC GLACIER INCOME FUND TO HOLD ANNUAL AND SPECIAL MEETING WINNIPEG, May 21, 2003 - The Annual and Special Meeting of unitholders of Arctic Glacier Income Fund (TSX-AG.UN) will be held on Tuesday, May 27, 2003 at 4:15 p.m. at The Fairmont Winnipeg. The Fairmont is located at Two Lombard Place in Winnipeg, Manitoba. Following the formal meeting, Robert Nagy, Chairman and Chief Executive Officer and Keith McMahon, Executive Vice President and Chief Financial Officer, will discuss the operational and financial performance of Arctic Glacier Income Fund for 2002 as well as for the first quarter of 2003. For those unable to attend in person, the meeting will be webcast on Arctic Glacier Income Fund's website at www.arcticglacierinc.com or www.cdn-news.com. The full proceedings will be streamed with accompanying slides. The webcast will also be archived on the site. Instructions for accessing the event will be provided on the website. Arctic Glacier Income Fund, through its operating company, Arctic Glacier Inc., is a leading producer, marketer and distributor of high-quality packaged ice in North America under the brand name of Arctic Glacier® Premium Ice. Arctic Glacier operates 16 production plants and 34 distribution facilities across Canada and the central United States servicing 35,000 retail accounts. Arctic Glacier Income Fund trust units are listed on the Toronto Stock Exchange under the trading symbol AG.UN. There are 15.66 million trust units outstanding. -- 30 --
(Signed) On behalf of the Board of Trustees of Arctic Glacier Income Fund, Robert Nagy, Chairman & CEO. The Toronto Stock Exchange does not approve or disapprove of the adequacy or accuracy of this release.
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