WINNIPEG, MB, Jan. 11 /CNW/ - Boyd Group Income Fund (TSX: BYD.UN) ("Boyd Group" or the "Fund") today announced that it has completed the acquisition of Automation Paint & Body in Calgary, Alberta and Abbotsford Auto Body in Abbotsford, British Columbia. These two locations had combined annual sales of approximately $3.2 million in 2004 and are expected to make a positive contribution to the Fund's distributable cash going forward. The acquisitions will be funded primarily by way of Boyd Group's forgivable capital funding program and supplier loan facility.

The Fund also announced that since reporting its 2004 third quarter financial results on November 15, 2004, it has continued with its plan to develop new collision repair facilities in the Chicago area. During the third quarter of 2004, two of these new facilities were opened and during the fourth quarter of 2004 two additional facilities commenced operations. The Fund anticipates that an additional Chicago area location that is under development will commence operations in the first quarter of 2005. These new facilities are expected to generate approximately $2.5 million in sales per store on an annual basis and are expected to contribute to the Fund's distributable cash in their first year of operation. Boyd Group is funding the development of these facilities primarily through a combination of forgivable capital funding and supplier loans.

Boyd Group Income Fund is an unincorporated, open-ended mutual fund trust created for the purposes of acquiring and holding certain investments, including a majority interest in The Boyd Group Inc. and its subsidiaries. Boyd Group Income Fund's policy is to pay monthly distributions to unit holders of record on or around the last business day of the month.

The Boyd Group Inc. is the largest operator of collision repair centres in Canada and among the largest in North America. The company operates locations in the four western Canadian provinces principally under the trade name Boyd Autobody & Glass and in six U.S. states principally under the trade name Gerber Collision & Glass. The Boyd Group Inc. is focused on its plan to be a leader in the consolidation of the highly fragmented North American collision repair industry, recently estimated to generate approximately $45 billion in revenue annually. For more information on The Boyd Group Inc. or Boyd Group Income Fund, please visit our Web site at www.boydgroup.com.

This press release contains forward-looking statements, other than historical facts, which reflect the view of the Fund's management with respect to future events. Such forward-looking statements reflect the current views of the Fund's management and are made on the basis of information currently available. Although management believes that its expectations are reasonable, it can give no assurance that such expectations will prove to be correct. The forward-looking statements contained herein are subject to these factors and other risks, uncertainties and assumptions relating to the operations, results of operations and financial position of the Fund. The Fund assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contemplated by the forward-looking statements.