CTF.UN Citadel Income Fund

Citadel Income Fund (TSX:CTF.UN) (the "Fund") is pleased to announce that the
Fund's distribution policy is being revised and a cash distribution is being
reinstated for the remainder of the year. In addition, the Fund is pleased to
announce an improvement to its Distribution Reinvestment Plan ("DRIP").


The distributions for the remainder of 2014 will be $0.01 per unit per month in
cash. The decision to reinstate a cash distribution follows responses from many
unitholders expressing a desire for a cash distribution. The Manager of the Fund
believes this latest change responds to the concerns being expressed by
unitholders while also balancing the long term sustainability of the Fund's
operation. The amount of the reinstated cash distribution has been set based on
the Fund's outlook for 2014 and is intended to be a sustainable payout to
unitholders over the long term. Conor Bill, President of the Manager of the
Fund, commented, "We have listened to and are grateful for the feedback we
received from unitholders about the recent distribution changes. We believe the
changes we are announcing today address the concerns that were expressed to us
while still placing the Fund on a more solid, sustainable footing for the
future. In addition to providing distributions to unitholders we have a duty to
try and preserve the net asset value of the Fund. We believe this new policy
strikes a fair balance between these objectives."


As previously announced, unitholders of record on the last day of January 2014
will be paid a $0.03 distribution, paid in units of the Fund, on the 18th of
February 2014. For the remainder of the year, unitholders of record on the last
day of each month will be paid cash distributions of $0.01 on the 15th day (or
first business day thereafter) of the ensuing month.


The Fund also instituted a change to its existing DRIP plan. Going forward,
units issued under the program will be issued at a 5% discount to the applicable
5-day volume-weighted average trading price of the units. As a result,
unitholders participating in the plan will be acquiring units at a discount to
the market price of the Fund's units.


FOR FURTHER INFORMATION PLEASE CONTACT: 
For further information please contact
your financial advisor, call Artemis
Investment Management's investor
relations line at (647) 477-4885 or
visit our website at www.artemisfunds.ca.

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