ARCTIC GLACIER TO HOLD SECOND QUARTER RESULTS CONFERENCE CALL AND WEBCAST

Fund to release 2004 Q2 results August 13

WINNIPEG, August 11, 2004 – Arctic Glacier Income Fund (TSX:AG.UN) today announced it will hold a live webcast of a conference call on Monday, August 16, 2004, at 2 p.m. EDT to discuss the fund’s 2004 second quarter results.

The results will be released on Friday, August 13, 2004, after market close.

The event will be hosted by Robert Nagy, President and Chief Executive Officer, and Keith McMahon, Executive Vice President and Chief Financial Officer.

To listen to the webcast, visit the fund’s investor website at www.arcticglacierinc.com or dial 416-640-4127 or 1-800-814-4857.

An audio replay of the conference call will be available until midnight on Monday, August 23, 2004. To access it, dial 416-640-1917 or 877-289-8525 and enter passcode 21090811#.

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 20 production plants and 35 distribution facilities across Canada and the central and northeastern United States, servicing more than 40,000 retail accounts.

Arctic Glacier Income Fund trust units are listed on the Toronto Stock Exchange under the trading symbol AG.UN. There are 23.3 million trust units outstanding.

(Signed) On behalf of the Board of Trustees of Arctic Glacier Income Fund, Robert Nagy, President & CEO.

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Contact Information:

For further information, call Robert Nagy, President and Chief Executive Office or Keith McMahon, Executive Vice President and Chief Financial Officer TOLL FREE at 1-888-573-9237 or log on at www.arcticglacierinc.com

The Toronto Stock Exchange does not approve or disapprove of the adequacy or accuracy of this release.