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ARCTIC GLACIER SIGNS FIVE-YEAR AGREEMENT TO SUPPLY ONTARIO BEER
STORES WITH
As of May 1, 2003, the fund's operating company, Arctic Glacier Inc., will supply Arctic Glacier® Premium Ice for in-store resale to 376 of the chain's 436 retail outlets. The new contract replaces an earlier three-year agreement that expired April 30, 2003 and expands market coverage by 61 outlets. The only stores not included in the new contract are those in the far north and in the greater London region, where service will be provided by local ice producers. "We are pleased to be selected by The Beer Store as its premier supplier of packaged ice," said Robert Nagy, Chairman and CEO of Arctic Glacier Income Fund. "This agreement further reinforces the Arctic Glacier® Premium Ice brand in the largest single Canadian retail consumer market." Officials from The Beer Store investigated production facilities, quality standards and supply capabilities of all bidders for the contract. "We selected Arctic Glacier on the basis of their consistent quality standard and our expectation of a high level of service," said Scott Simmons, Vice President of Marketing for The Beer Store. "In addition, the ice industry has undergone a significant amount of consolidation over the past several years, and we were looking to enter into a stable, long term relationship with the preeminent supplier in Ontario." The Beer Store chain, founded in 1927, sells refrigerated beer and packaged ice in outlets throughout Ontario. The stores offer more than 300 brands of beer from over 70 brewers worldwide. 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 -- Contact Information For further information, call Arctic Glacier Inc. TOLL FREE at 1-888-573-9237 or log on at www.arcticglacierinc.com (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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