Montreal, Canada/London, UK – April 03, 2008 – Aeroplan Income Fund’s (Aeroplan) (TSX: AER.UN) wholly-owned subsidiary, Loyalty Management Group Limited (LMG), owner and operator of Nectar, today announced that HM Revenue & Customs’ (HMRC) application for leave to appeal the decision in relation to the VAT treatment of Nectar to the House of Lords has been granted and the case has been referred to the European Court of Justice. The case will be heard at a future date to be set. LMG will continue to argue this case. Aeroplan remains confident that this case will be resolved to the company’s satisfaction.
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Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, amongst other things, changing external events, general uncertainties of the business and matters that are not within the control of Aeroplan. Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements to differ materially from those expressed in the forward-looking statements. The forward-looking statements contained herein represent Aeroplan’s expectations as of the date they are made and are subject to change after such date. However, Aeroplan disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations. About Aeroplan Income Fund Aeroplan Income Fund is an unincorporated, open-ended trust established under the laws of the
Province of Ontario. Aeroplan Income Fund is the owner of Aeroplan Limited Partnership, Canada’s premier loyalty marketing company and operator of the Aeroplan loyalty program and Loyalty
Management Group Limited, operator of Nectar, the United Kingdom’s leading coalition loyalty program.
For more information about Aeroplan, please visit www.aeroplan.com
LMG is based in the United Kingdom and develops, owns and manages large retail-based coalition loyalty programs and provides customer data driven marketing services to retailers, CPGs and service providers worldwide. The group owns and operates the Nectar brand, the United Kingdom’s leading coalition loyalty program. It also majority owns the Air Miles programme in the Middle East as well as owning the Air Miles trademark around the world. It employs approximately 190 staff at its HQ in London.
For more information about LMG, please visit www.loyalty.co.uk.
Nectar is the UK’s leading coalition loyalty program with multiple partners representing grocery, fuel, energy, entertainment and credit card sectors. 50% of UK households participate in the program and 19 Nectar cards are swiped every second of every day. Nectar has given back over £1 billion worth of rewards to its collectors since its launch in September 2002.
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